Impact of Rewards on Job Satisfaction: A Study of Privately Owned Colleges

Provision of appropriate rewards to bring employees’ job satisfaction has always been a matter of prime importance for the employers. This is an empirical study aiming at to explore the nature of the relationship between rewards (financial non-financial) and job satisfaction of the teachers working in privately owned colleges. The study is conducted in the commerce/management sciences colleges of Lahore affiliated with University of the Punjab, Pakistan. Data was collected through a self-administered questionnaire which was distributed to 240 teachers in 44 colleges. SPSS version 16 was used for descriptive and inferential statistical analysis. On the basis of data analysis, recommendations for the employers as to how they can bring job satisfaction to their employees have also been made.