Logit, binary and multinomial models are used in this study to determine the impact of objective and perceived working conditions on workers’ job satisfaction. Possible differences between job satisfaction in the Metropolitan Region and in other areas of Chile are also explored. The data used in this analysis are drawn from the first National Survey on Employment, Work, Health and Quality of Life of Workers in Chile (ENETS). Wage levels were found to have a positive impact across the board, while residence in an area other than the Metropolitan Region also had a significantly positive effect. These results were corroborated using matching techniques. The finding that subjective perceptions have a great deal of explanatory power and that their impact outweighs the influence of objective conditions may be of interest in the areas of both public policy and business administration.