This study aims to shed light on the inherent natures of academic life at private higher education institutions in Cambodia in light of neoliberal education discourse. A phenomenological approach was adopted and a series of systematic in-depth interviews was used as the main method for data collection about life of academics. The overall anecdotes about life of the academics have revealed many downsides in this profession, incorporating unfavorable working conditions, inappropriate employment practices, poor institutional arrangement and unsupported system to nurture the life of academics as the intellectual stimulus. Institutional capacity of private universities has been critically questioned as the so-called patronage system or principal-agent relationships have reportedly existed along the functioning of the institution. The underlying system in which academics have been overwhelmingly employed under casual basis coupled with low hourly wage, and professional development for academic excellence has never been treated as a part of professional identity, has made this profession precarious and undesirable among the intellectual individuals in Cambodian society. Reciprocally, academic profession has been treated as a spare job for additional incomes by many academics, which in turn has posted a severe threat to the legitimacy and accountability of the private universities in Cambodia.