This paper focuses on job satisfaction characteristics of self-employed who recently switched into self-employment coming from a private sector paid employment or another self-employment status. We use the European Community Household Panel for the EU-15 covering the years 1994-2001 and distinguish between three types of job satisfaction, i.e. job satisfaction with type of work, with earnings and
... [Show full abstract] job security. Findings from our generalized ordered logit regressions indicate that self-employed who recently made a transition into self-employment out of a private sector paid employment status are more satisfied with type of work and earnings and less satisfied in terms of job security than private sector employees who did not make any labor market transition. Furthermore, for private sector employees a transition into self-employment seems to be preferred over a transition into another paid employed job in the private sector in terms of all satisfaction types. We also find that self-employed who have re-entered self-employment ("serial entrepreneurs") are more satisfied in terms of earnings than static self-employed.