PAY DISPARITY AND PAY SATISFACTION IN PUBLIC AND PRIVATE UNIVERSITIES IN NIGERIA

This study examines pay disparity and pay satisfaction in public and private sector universities in Nigeria using two universities from each sector. Pay satisfaction results in higher performance and greater productivity while pay dissatisfaction may bring about poor performance, lack of commitment, moonlighting, absenteeism, and high rate of labour turnover which affects productivity. The study employed the survey research design. The sample size used in this study was 200 academic staff consisting of 50 respondents randomly selected from each of the two public and two private universities in Nigeria selected for the study. Five hypotheses were tested. The results show disparity in pay between public and private sector academic staff with the private universities paying better than the public university. Pay satisfaction is low both in the public and private sector universities. Working conditions in the two sector s differ; while those in the public sector have the benefits of job security, flexible working hours, less supervision, freedom of association, lesser workloads, and clearer lines of communication, for those in the private sector the pay package and promotion prospects are better but job security is low, there is less freedom and heavier workloads. Those in the private sector have better opportunities of career training and development programmes that provided in and outside the organisation, promotion and advancement, regular payment, fringe benefits, team work.The study recommends closure of the pay gaps; improvement in the level of pay satisfaction both in public and private sector universities; constant improvement of work conditions, and opportunities for training and career development. Pay and promotion policies should be reviewed to avoid stagnation