Although previous research often showed a positive relationship between pay satisfaction and job satisfaction, we dispute the universality of this finding. Cluster-wise regression analyses on three samples consistently show that two types of individuals can be distinguished, each with a different job reward-job satisfaction relationship. For the first person type, job satisfaction relates to financial and psychological reward satisfaction, whereas for the second person type job satisfaction relates to psychological reward satisfaction only. In addition, between-person type differences were found for the work value financial security but not for recognition, which suggests that differences in work values may lie at the basis of between-person differences in the rewards-satisfaction relationship. Moreover, person types 1 and 2 differ in turnover intention and affective organizational commitment, which implies that differences in the rewards-satisfaction relationship relate to important organizational outcomes as well. Theoretical and practical implications of these findings are discussed. (Contains 5 tables.)