This study investigates the effect of academic factors and student service on student satisfaction among business students with a specific focus on teacher attributes, program features, physical amenities, and administrative service. This study is one of the first attempts to identify crucial determinants of student satisfaction by combining data from business students from India and Nepal. For this purpose, a survey using the HEdPERF scale was conducted to collect data from 659 respondents using convenience sampling from North Eastern Hill University in India and Pokhara University in Nepal. PLS-SEM was used to assess the proposed links between the latent constructs. The findings indicated that program features and administrative services positively influence student satisfaction. However, teacher attributes and physical amenities were found to have no effect on student satisfaction. These findings demonstrate that universities should prioritize improving the quality of their programs and the efficiency of their administrative services in order to enhance student satisfaction. This study contributes to existing body of knowledge by delivering valuable insights into the factors that influence student satisfaction in the higher education institutions. It also provides practical recommendations for university administrators and education policymakers who are interested in improving educational experiences and outcomes.