Is satisfaction is a part of compensation or not? whether the satisfaction is a part of compensation or not?
Of course, job satisfaction is not a formal part of compensation. It is not measurable and so you cannot make it be part of a job offer. You cannot negotiate for how much job satisfaction you will get (if you are an employee).
However, job satisfaction is clearly part of what will make an employee decide to continue working at a given firm or not. So in that sense, firms do need to pay attention to how satisfied their workers are so that they will not constantly be losing workers. This would be bad because it would lower their efficiency as they were constantly having to train new workers.
What would you consider key ingredients of job satisfaction? If you can determine what those are, then you'll be able to measure "job satisfaction" from a monetary perspective. For example if you value employer sponsored tuition reimbursement/assistance then if they don't offer this, you'll already know you're not satisfied. If you value vacation and paid time off, and this employer gives 4 weeks in the first year of employment, then you're satisfied!