Background: Job satisfaction of medical teachers has an impact on quality of medical education and patient care. In this background, the study was planned to develop scale and measure job satisfaction status of medical teachers. Materials and Methods: To generate items pertaining to the scale of job satisfaction, closed-ended and open-ended questionnaires were administered to medical professionals. The job satisfaction questionnaire was developed and rated on Likert type of rating scale. Both quantitative and qualitative methods were used to ascertain job satisfaction among 245 health science faculty of an autonomous educational institution. Factor loading was calculated and final items with strong factor loading were selected. Data were statistically evaluated. Results: Average job satisfaction score was 53.97 on a scale of 1–100. The Cronbach's alpha reliability coefficient was 0.918 for entire set of items. There was statistically significant difference in job satisfaction level across different age groups (P 0.0358) showing a U-shaped pattern and fresh entrants versus reemployed faculty (P 0.0188), former showing lower satisfaction. Opportunity for self-development was biggest satisfier, followed by work, opportunity for promotion, and job security. Factors contributing toward job dissatisfaction were poor utilization of skills, poor promotional prospects, inadequate pay and allowances, work conditions, and work atmosphere. Conclusion: Tertiary care teaching hospitals in autonomous educational institutions need to build infrastructure and create opportunities for their medical professional. Job satisfaction of young entrants needs to be raised further by improving their work environment. This will pave the way for effective delivery of health care.