The trend of ‘self financing’ (Un-aided) institutions has implemented for the last twenty two years in Maharashtra state and other parts of India. The Government does not financially support these institutions. The ‘job satisfaction’ of teachers working in such institutions is always questionable, particularly in those institutions that are situated in rural part of India. It causes a large amount of turnover of teachers. Here, we have attempted to analyze this question by making use of structural equation modeling. Such type of work is useful to institutions to retain their teachers and increase their involvement in institution. It also helps to determine quality of education.