The purpose of this study to investigate the impact of rewards on job satisfaction and whether economic trends moderate the relationship of job satisfaction and rewards or not. Furthermore, this study also investigates whether the relationship between job satisfaction and reward is linear or nonlinear and whether the relationship diminishes or improves with predictor inclusion. Data collection was done through online and self-administered questionnaires by adopting cluster sampling technique from higher education institutions of Pakistan. Results based on 2160 responses suggest that economic trends moderate the relationship of job satisfaction and reward while assuming the economic trends as perceived rewards. The logit model was adopted to probabilistic relationship between job satisfaction and reward in moderation with economics trends. The moderations magnify the impact of rewards on job satisfaction. The job satisfaction is more sensitive to extrinsic reward as compared to intrinsic reward. The relationship of job satisfaction and reward is nonlinear for both extrinsic and intrinsic reward suggesting the diminishing relationship of job satisfaction and rewards. This study has pivotal implication for the higher education sector as it helps the sector to align the rewards with economic and trends and can normalize the reward after assessing the nonlinear stricture of relationship.