Liudmila Klimenko — Doctor of Sciences in Sociology, Associate Professor, Professor, Higher School of Business, Southern Federal University.

Address: 43 23rd Line Str., 344006 Rostov-on-Don, Russian Federation. E-mail: lucl@yandex.ru

Liudmila Skachkova — Candidate of Sciences in Economics, Associate Professor, Head of the Department of Human Resource Management, Southern Federal University.

Address: 88 Gorkogo Str., 344002 Rostov-on-Don, Russian Federation. E-mail: lskachkova@gmail.com

Drawing upon findings of applied research, this article explores the indicators of subjective well-being among faculty of Russia’s leading universities. Methodological design of the study discriminates between subjective and objective measures of well-being, examines the affective and cognitive components of wellbeing, makes allowance for a set of subjective well-being determinants when zeroing in on a group of occupational factors, and uses time-tested scales for better measurement validity. Using empirical data, we demonstrate the priority of interesting work, freedom and fulfillment over income on sample of faculty members. Correlations are found among subjective well-being, teaching faculty’s age and qualifications. A negative impact of modern education reforms on occupational well-being of faculty is observed. Along with faculty retention and motivation strategies, universities should develop and implement worker subjective well-being initiatives.