Research suggests that the work domain is important for facilitating individual well-being as people tend to spend a significant amount of time at work. Among faculty in academia, the work domain may be essential to consider given the increasing concerns about faculty mental health related to increasing workloads and responsibilities. Therefore, it is pertinent to investigate various personal and work-related factors in association with well-being and ill-being. Not only are such investigations important for understanding faculty fulfillment, they may also provide key insights needed to ensure quality in teaching and research in higher education. This study utilized questionnaire data, collected in 2021, from a representative sample of faculty with doctoral degrees across Swedish academia (n = 2661, 47 percent women, average age = 50). Personal and work-related variables included age, sex, civil status, children, employment contract, managerial responsibilities, and organizational tenure. These were modeled as predictors of well-being, including hedonic and eudaimonic measures, in addition to ill-being measures, specifically exhaustion and depressive symptoms. Four multiple hierarchical regressions revealed significant relationships between personal and work-related factors and measures of well-being and ill-being. Age and civil status were associated with well-being and ill-being, and among work-related factors, a permanent contract was associated with lower exhaustion and depressive symptoms, whereas possessing managerial responsibilities was linked to higher hedonic and eudaimonic well-being. Overall, the study findings reveal that personal and work-related factors may differentially influence faculty well-being and ill-being. These insights have the potential to inform organizational efforts to enhance faculty well-being.