This study focuses on investigating impact of supervisor -- PhD student relationship on PhD students' satisfaction with their supervisors' supervisory styles and their skill development. A survey was conducted among 430 respondents who both finished or were doing their doctoral study at universities in Northern, Central and Southern cities in Vietnam in social science, economics and business management majors. Findings revealed that the leadership, helping, understanding and responsibility relationship between supervisors and PhD students were positively associated with PhD students' satisfaction with supervisors' supervisory style while the uncertain, dissatisfied and admonishing types of relationships were negatively associated with PhD students' satisfaction. The strict relationship did not negatively affect PhD students' satisfaction with their supervisors' supervisory styles. Furthermore, PhD students' satisfaction with their supervisors' supervisory styles positively influenced their satisfaction with academic skill development during their PhD candidature. Implications and future research directions were then discussed.