This study examined job satisfaction and job stress across 19 higher education systems. We classified the 19 countries according to their job satisfaction and job stress and applied regression analysis to test whether new public management has impacts on either or both job satisfaction and job stress. According to this study, strong market driven countries are in the high stress group and European countries are in the high satisfaction group. The classification implies that market oriented managerial reforms are the main source of academic stress while the high social reputation of academics in their society and academic autonomy are the source of job satisfaction. Our regression analysis also shows that the new public management which is measured by the performance-based management in this study is the main source of academic job stress. In addition, this study highlighted the higher education systems that are classified as the high satisfaction and high stress group. These countries represent the conflicting nature of current academic society--on the one hand they are satisfied, but on the other they are highly stressful.