The objectives of this study are of two-fold: one is to investigate the selected factors which determine sustainable quality education and the other is to examine the moderating effect of working condition between faculty retention and quality education in the private higher education institutes (HEIs) in Bangladesh. In so doing, the study employs Herzberg’s two-factor theory as its theoretical base. Data were analyzed using AMOS-SEM. The findings of the study reveal that all factors influence faculty retention strongly except a weak influence of job security. It also shows that faculty working condition has a strong moderating effect between faculty retention and sustainable quality education. The results of the current study imply that the authorities of the private HEIs ought to be cautious to pay their special attention to the enjoyable working condition which can retain quality faculty longer in order to potentiality excel in quality education.