A Study on School Teachers' Satisfaction with Salary and Compensation

Abstract Teacher is a key aspect in education system. The quality of education largely depends on the quality of teachers. The entire education system revolves around teachers and the students. Teachers are the architectures where and the students are their creation. Among the many factors influencing job satisfaction, salary and allowances occupy a central position, as they directly impact the economic stability, motivation, and overall quality of work life of teachers. Money is the main source of satisfaction for workers. Money can be considered as a hygienic factor and motivational factor. If an employee has given salary below his expectation he may be dissatisfied. But the salary above the expectation may leads to higher satisfaction and provides motivation. In Maharashtra compensation policy of the permanent teaching staff working in the primary, secondary and higher secondary schools is decided by state government. The compensation is given according to grades of position of teachers. The aim of the present paper is to understand the salary and compensation packages for teachers in primary secondary and higher-secondary schools, to study teachers’ opinions on various aspects of salary and compensation and analysis teachers’ satisfaction on salary and compensation. The study has conducted in Ichalkaranji city and its surrounding area, located in Kolhapur District, Maharasshtra, India. Ichalkaranji is one of the fastest growing cities in India.