This study examines the effects of work related factors (such as mobbing, job security and job concern) and academic related factors (such as publications, time for research and pressure) and relative income effect (social comparison and self-income evaluation) on life satisfaction and overall job satisfaction of young faculty members working at leading universities located in major cities in Turkey. The analysis is based on a unique survey conducted with 1215 research assistants. Separate regressions were run for the whole sample and for gender categories. Findings of the research revealed that life satisfaction and overall job satisfaction were strongly correlated with mobbing, time for research, formal and informal pressure and subjective job security. Separate regression results revealed that the significant predictors for overall job satisfaction differed among male and female respondents. In regard to relative income effect, findings were in line with the existing literature: attaching importance to income comparison has a negative impact on life satisfaction. In addition, downward self-income evaluation for the present has a negative effect on life satisfaction, whereas upward self-income evaluation for the future (expectations) has a positive effect on life satisfaction.