The purpose of this study is to observe the impact of different factors on student’s academic performance and make selection, comparison between multilevel and multiple regression regarding and disregarding the actual hierarchal or nested structure of the data. To obtain these objectives primary data were collected through a well-defined questionnaire from 2132 students of 48 different public and private schools in Charsadda District, Khyberpukhtun Khwa. It is recorded that both in multilevel and multiple context the effect of age, gender, mother education, family type, family size, family monthly income school standard and school type are found significant on student’s academic performance. The results of both multilevel and multiple regression were found quit similar. It is recommended that proper simulation study is needed to observe difference in multilevel and multiple regression, also more extensive similar studies covering province/country will bring good impact on the standard of education.