Generation Y and Generation X already comprise the majority of the global workforce. Generation Y employees are different from those of prior generations. They have different expectations and bring different personalities and attitudes to the workplace, but share many of the characteristics of Generation X. In our study, we tried to identify whether there are differences between the importance and satisfaction with factors related to job satisfaction between Generation X and Generation Y. The target population in this study was limited to Generation X (1965-1980) and Generation Y (1981-1996) living and working in Slovenia. The questionnaire contained questions referring to (i) general data, (ii) work and working conditions, (iii) leadership and senior management, (iv) compensation and benefits, (v) career development, and (vi) technology. In order to examine the research, questions mean values and standard deviations of the responses to individual items were calculated and Paired-Samples T-Tests were conducted to examine the averages. The study results revealed that most of the job-related factors are important to members of Generation Y, and workplace satisfaction is low. The most important factor is leadership & senior management, the least important is technology and they are most satisfied with work and working conditions and least satisfied with compensation and benefits. The same goes for Generation X, which means that there is still a lot of room for improvements in all five job satisfaction factor groups of our study.