Research on the importance and performance of work trip attributes for users of different transportation modes—such as public transit, two-wheelers, and four-wheelers—and their impact on travel satisfaction remains limited. This gap is particularly evident when considering the influence of negative externalities of urban transport on travel satisfaction in developing countries. This study seeks to fill this gap by performing an importance-performance analysis of work trip attributes and evaluating the impact of these attributes on travel satisfaction through the use of an ordered hybrid choice model. Findings underscore the significant impact of negative externalities on work trip-related travel satisfaction across all mode users. Additionally, a higher travel cost is negatively associated while a lower travel time is positively associated with travel satisfaction. Higher-income individuals and four-wheeler users exhibit relatively high travel satisfaction compared with two-wheeler and public transit users. Furthermore, the analysis of work trip attributes reveals that the most crucial factors are the access time for public transit users, travel time reliability and travel time delay for four-wheeler users, and the risk of road crashes for two-wheeler users. The study's findings offer insights for policymakers and planners when prioritizing strategies within the urban transport sector in the Mumbai Metropolitan Region (MMR). On a global research scale, the study advocates for the inclusion of negative externalities in travel satisfaction research, emphasizing their pivotal role in shaping the travel experience.