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Nest‐site characteristics can have a strong impact on reproductive success in birds. Nest sites should simultaneously protect from predators, offer shelter and provide a favourable microclimate. We studied the relationship between three agents of natural selection (predators [i.e. Adders and birds/mammals], snowfall and microclimate), nest‐site characteristics and reproductive success to determine whether these influenced preference for specific nest‐site characteristics in the Water Pipit Anthus spinoletta. Pooled over all nests, the relative importance as agents of natural selection decreased from mammalian/avian predation (15% of all nests) through Adder predation (12%) to snowfall (7%), but there were clear differences in space and time. Predation by Adders selected for nest sites surrounded by few medium‐sized shrubs. Selection by mammalian and avian predators favoured no specific nest‐site …