The study explores the relationship among job satisfaction, psychological well-being and personal variables. Job satisfaction and psychological well-being were measured on 144 randomly selected employees working in different organizations, using Warr, Cook and Wall's `Job Satisfaction Scale' and Goldberg and Williams' `General Health Questionnaire-12', respectively. Five personal variables (age, gender, marital status, educational level and rank) were also recorded for each respondent. Correlation analysis has revealed that job satisfaction was positively related with age and psychological well-being. Regression analysis has proved that job satisfaction is a significant predictor of psychological well-being. t- test on the mean has brought out that married employees experience higher job satisfaction than their unmarried counterparts. Analysis of variance (ANOVA) on job satisfaction and psychological well-being with respect to respondents' age, education and rank has revealed that employees differ on job satisfaction and psychological well-being on the basis of their education and rank. Existence of an inverted U-shaped relationship between employee rank and psychological well-being, peaking at mid-ranks has also been reported in this study.

In today's competitive world, organizations are trying their best to recruit, select, and retain talented, committed, successful and performing employees. With the ever increasing mobility of employees, keeping employees satisfied in their jobs, is most important to ensure reasonable employee retention. Job satisfaction is necessary to promote functional employee behaviors in the organization. Job satisfaction has been found to produce many favorable outcomes, such as high performance; reduced absenteeism and turnover; increased motivation and citizenship behavior; and organizational commitment (Hacket, 1989; Wright and Cropanzano, 2000; Judge et al., 2001; Kinicki et al., 2002; and Wright and Bonett, 2007).

In addition to producing organizationally relevant outcomes, job satisfaction has been found to affect the personal life of employees. Research in the field of management and industrial/organizational psychology has shown that job satisfaction is related with the employees' health and psychological well-being (Gechman and Weiner, 1975; Koen and McDonald, 1982; Chandraiah et al., 2003; Ho and Au, 2006; and Oliver et al.,2006).