Focusing on the mid-high level managers, this paper studies the impacts of expectation and competition on employee satisfaction and loyalty by conducting empirical studies, and further establishes employee satisfaction and loyalty models based on expectation and competition. Our empirical study reveals that, the negative impact of employee value lower than expectation on satisfaction is greater than the positive impact of employee value higher than expectation. In addition, the comparison of employee values between enterprises concerned and competitors also influence employee satisfaction. For high level managers, the influence on employee satisfaction from competition is even larger than that from expectation. For loyalty, intentions to leave for all managers of different levels are significantly influenced by expectation and competition. For the two groups, competition has more significant influence than expectation on intention to leave. Intentions to leave for lowermid level managers are higher than high level mangers.