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Table of Content

CHAPTER

NAME List of Table List of Abbreviation Acknowledgement Abstract

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Chapter: One

Chapter: Two

Introduction 1.1 Rationale of the Study 1.2 Research Question 1.3 Objective of the Study 1.3.1 Broad Objective 1.3.2 General Objective 1.4 Limitation of the study Literature Review 2.0 Literature Review 2.1 Theory behind Compensation 2.1.1 Reinforcement and Expectancy Theories 2.1.2 Equity Theory 2.1.3 Agency Theory 2.2 Major Components of compensation 2.2.1 Basic wages/Salaries 2.2.2 Dearness allowance 2.2.3 Bonus 2.2.4 Commissions 2.2.5 Mixed plans 2.2.6 Piece rate wages 2.2.7 Sign on Bonuses 2.2.8 Profit sharing payments 2.2.9 Fringe benefits 2.2.10 Reimbursements 2.2.11 Sickness benefits/pregnancy 2.3 Overview of United Commercial Bank Ltd 2.4 Background of United Commercial Bank Ltd 2.5 Mission & Vision 2.6 Corporate Information of UCBL at A Glance 2.7 Board of Directors 2.8 Executive Committee
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Chapter: Three

Chapter Four

2.9 Audit Committee 2.10 Risk Management Committee 2.11 Management 2.12 Senior Management 2.13 Products & Services of UCBL Methodology 3.0 Methodology 3.1 Study Design 3.2 Study Place 3.3 Study Period 3.4 Study Population 3.5 Data Collection Technique 3.6 Data Processing and Analysis 3.7 Ethical Consideration Findings of the Study 4.1 Total Compensation and Benefits Package of UCBL 4.1.1 Objectives 4.1.2 Salary Structure 4.1.3 Revision of Pay Elements 4.1.4 Employee Compensation Records 4.2 Basic Employee Benefits for Permanent Employees 4.2.1 Provident Fund 4.2.2 Bonuses 4.2.3 Accommodation 4.2.4 Utilities Allowances 4.2.5 Mobile Telephone 4.2.6 Medical Benefits for the Executive Staff 4.2.7 Car Purchase Scheme 4.2.8 Loan Scheme 4.2.9 Basic Leave Types 4.3 Definitions of Basic Leave Entitlements 4.3.1 Casual Leave 4.3.2 Sick Leave 4.3.3 Earned Leave 4.3.4 Maternity Leave 4.3.5 Study Leave 4.3.6 Hajj Leave 4.3.7 Special Leave Discussion 5.0 Compensation Discussion

Chapter: Five

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Chapter: Six

5.1 Compensation Philosophy of UCBL 5.1.1 Paying for performance 5.1.2 Encouraging Long-Term Focus 5.1.3 Maintaining Safety and Soundness 5.1.4 Attracting and Retaining Talent Conclusion and Recommendation 6.0 Conclusion 6.1 Recommendation References Annexure Questionnaires

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List of Tables

SI No. 1. 2. 3. 4. 5. 6. 7.

Name of the Table Corporate Information of UCBL. Statistical Weighted Mean of data processing and analysis. Salary Structure of UCBL. Employee Bonus. Utility Allowances for employees. Basic Leave entitlements for the Executives. The Basic Leave entitlements for the Executives at Branches

Page No.

iv

List of Abbreviation

SI. NO. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11.

List DPS ESOP EVP HRM NFCD NRB NWD RFCD RMG SMS UCBL

Abbreviation Deposit Pension Scheme. Employee Stock Ownership Plan. Executive Vice President. Human Resource Management. Non Resident Foreign Currency Deposit Account. Non-Resident Bangladeshi. Nation Wide Direct. Resident Foreign Currency Deposit Account. Ready Made Garments. Short Message Service. United Commercial Bank Ltd.

Acknowledgement

I begin by thanking the Almighty for my successful completion of the project report, which is a significant part of the BBA Program. I would like to take the opportunity to thank those people who have given me constant support while doing my project report. At first Its a pleasure to convey my heartiest gratitude and greeting to my honorable supervisor, , ASA University Bangladesh. I deeply appreciate his cooperation, advice and guidance in preparing this report.

I would like to extend my heartiest thanks to the General Banking Division of United Commercial Bank Ltd for allowing me to complete my internship. I would like to acknowledge and thanks the following personnel who has extended their whole-hearted co-operation for preparing the report- Mr Ziaur Rahman, Zubaer Anam, Aminur Rahman and Farida Yeasmin who took time out of their busy schedule to guide me for the successful completion of my report.

I am also grateful to all other officers, specially Meherun Nesa Merry, Jobaeda Khanam and Arifa Afrin for their guidance in my new path of corporate life.

I am very grateful to all of the people mentioned above for their cooperation in every step to prepare my report successfully.

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Abstract

Compensation is a systematic approach to provide monetary value to employees in exchange of work performed. Compensation may achieve several purposes assisting in recruitment, job performance, and job satisfaction. The purpose of my project was to monitor how the private commercial banks in Bangladesh used the compensation system. To elaborate the purpose I choose United Commercial Bank Ltd as my working project. To find out the compensation system of UCBL I collect data from face to face interview, survey questionnaires and personal observation by visiting the bank. I also collect data from the annual report of the bank and from internet. The main problem of my project report is the short period of time and I also faced problem and difficulties when accessing the confidential data of the bank. The main finding that I get when I tried to find out the compensation system of UCBL is that the compensation system of the bank is revised when it is necessary with the approval of the executive committee including director, Admin/HR, and head of the department finance and the chief executive. UCBL keeps the record of their employees and provides all the basic benefits to their permanent employees. My project report has been focused on the compensation system, practiced by UCBL. But the compensation system varies significantly among banks regarding pay. It could have been better if I might have worked with all types of banks.
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