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This article analyses the effect of perceived lean degree on job satisfaction in back-office environments in the financial services industry. The relationship between perceived lean principles and job satisfaction in general are analysed through an industry-wide survey and a focus on specific aspects of job satisfaction in a case study. The findings show a positive relationship between the perceived lean degree and job satisfaction, and highlight the importance of supervisors' roles, and of keeping the introduction of lean separate from reducing staff. Financial service companies can expect not only efficiency gains but also an increase in job satisfaction for employees perceiving lean management. However, the results point to aspects that should be considered in order to avoid negative effects. In conclusion, increased process efficiency using methodologies such as lean management does not necessarily have a negative effect on job satisfaction, or, thus, on employee well-being. [ABSTRACT FROM AUTHOR]