This study examines the mediating effect of Generation Y employees’ emotional intelligence levels on the relationships between their personality characteristics and job satisfaction. Participants were 477 engineers, who completed the Big Five Model of personality, Wong Law Emotional Intelligence Scale and Minnesota Job Satisfaction Scale. The results show a significant relationship between Generation Y employees’ emotional intelligence and their job satisfaction. Hierarchical regression analyses reveal that personality characteristics and job satisfaction of Generation Y employees are mediated by their emotional intelligence. The negative relationships between Generation Y employees’ neuroticism and their job satisfaction are fully mediated, whereas the relationships between their being extraverted, conscientious, agreeable and open to experiences and job satisfaction are partially mediated by their emotional intelligence. The findings indicate that organizations should focus more on giving importance to the emotional intelligence of Generation Y employees, which is the underlying effect between their personality characteristics and job satisfaction. Implications for future research and practice are discussed. Key Words: Generation Y, Personality, Emotional Intelligence, Job Satisfaction.