As the population of students in higher education increases, the issues of over education and mismatch of study field emerge. The purpose of present study is threefold. First was to construct subjective and objective assessments to measure over-education and job-education mismatch. Second was to investigate the incremental variation of job satisfaction that over-education and job-education mismatch could account for. Third was to explore the path of mismatch to job satisfaction mediated by salary for groups of adequate, over-, and under-education. A self-reported on-line survey was administered, and 1522 subjects were recruited. After comparing the results of contingent tables and Gamma coefficients, the subjective approach was selected to use for subsequent analysis. The hierarchical regression analyses showed that over-education and job-education mismatch negatively affected job satisfaction after controlling for job-related variables and salary. Finally, the mediating effects between salary and job satisfaction were not significant for adequate and over-educated groups but significant for under-educated group. Based on the findings, further direction for research and suggestion for policy were provided.