COMPENSATION EFFECT ON JOB SATISFACTION AMONG PRIVATE SCHOOL TEACHERS IN BENIN CITY, NIGERIA

Abstract

Compensation practices among private schools are relatively poor when
compared with what obtains in public academic institutions. Many school
proprietors lay more emphasis on basic pay while undermining the import
of incentives and employee benefits and hence fail to approach the concept
of compensation holistically. The study examined the influence of
compensation practices on job satisfaction among teachers in private
schools in Benin City. The specific objective was to ascertain whether pay
level, incentive and employee benefits have significant influence on the job
satisfaction of teachers in private schools in Benin City. The paper adopted
a survey study, whereby copies of the questionnaire were administered to
188 teachers in private schools in Oredo Local Government Area, Benin
City. The data were analyzed using both descriptive and inferential
statistics. The study established that job satisfaction of teachers is
dependent on the compensation practices of the schools and that Incentives
are the most significant factor that influence job satisfaction of private
school teachers in Oredo LGA, Benin City. The study recommended that
private school management review their compensation policies to include
more incentives and benefits such as contributory and loan schemes.