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The dissertation is theoretical and empirical study of the perceived pay justice and job satisfaction of employees in Bulgarian private companies. Subject of the study is are the perceptions of employees on different levels (expert and managerial) regarding (a) the procedural and distributive justice, (b) factors for perceiving ones pay as just, (c) level of job satisfaction and pay satisfaction and (d) level of tolerance over pay differential between peers and between manager and direct reports. The resulys from the study are indicative that in the companies which took part in the research the pay systems are still not sufficiently clear, structured and objective. The job satisfaction is rather moderate and the lowest levl is regarding the current pay. Considering the pay satisfaction in particular the lowest level is on scale "pay administration". The analyse of the respoces on procedural and distributive justice show that the reposndents perceive their pay as most stongly corresponding to their responsibilities and least corresponding to the level of stress in their work. The criteria for just pay, according to the respondents, are close to the criteria for distributive justice defined by Price and Mueller (1986). Additional factor appears in the study - the competency of the employee. Interesting are the results on the tolerance over paydifferentials. Most of the respondents would consider just a pay differential not more than 30 between peers and not more than 50 between manager and direct reports. The hypothesis that people earning more than 2000 BGN would be more tolerant was not confirmed.
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