Although several studies in the affluent world have examined the job satisfaction and dissatisfaction of lecturers in higher education, little is known about academic job satisfaction in the low-resource countries. This study probes those factors contributing to academic satisfaction and dissatisfaction in higher education in the developing world. Using a sample of 182 respondents drawn from two universities in Uganda, this analysis reports that the factors most prevalent in the prediction of dons' satisfaction relate to co-worker behaviour, supervision and intrinsic facets of teaching. Analogously, the stimuli that create academic dissatisfaction are largely extrinsic (contextual) factors with respect to facets of remuneration, governance, research, promotion, and working environment. This article discusses these findings in the light of Herzberg's dichotomy and concludes that any given factor be it intrinsic or extrinsic can either evoke academic satisfaction or induce dissatisfaction. The present analysis finds that while age, rank, and tenure significantly predict academic job satisfaction, no evidence is adduced to support a gender influence on dons' job satisfaction. Implications for Ugandan academics' job satisfaction are formulated, recommendations made, and a further research agenda proposed.