University of Adelaide3 TABLE OF CONTENTS Table of content …………………………………………………………… 3 Abstract
Part Two- Table of Content to Abstract
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Table of Content
CHAPTER NAME PAGE NO.
List of Table ivList of Abbreviation vAcknowledgement viAbstract vii
Chapter: One Introduction
1.1 Rationale of the Study1.2 Research Question1.3 Objective of the Study
1.3.1 Broad Objective 1.3.2 General Objective
1.4 Limitation of the studyChapter: Two Literature Review
2.0 Literature Review2.1 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 Ltd2.4 Background of United Commercial Bank Ltd2.5 Mission & Vision2.6 Corporate Information of UCBL at A Glance2.7 Board of Directors2.8 Executive Committee2.9 Audit Committee
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2.10 Risk Management Committee2.11 Management2.12 Senior Management2.13 Products & Services of UCBL
Chapter: Three Methodology3.0 Methodology3.1 Study Design3.2 Study Place3.3 Study Period3.4 Study Population3.5 Data Collection Technique3.6 Data Processing and Analysis3.7 Ethical Consideration
Chapter Four Findings of the Study4.1 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
Chapter: Five Discussion5.0 Compensation Discussion5.1 Compensation Philosophy of UCBL
5.1.1 Paying for performance 5.1.2 Encouraging Long-Term Focus
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5.1.3 Maintaining Safety and Soundness 5.1.4 Attracting and Retaining Talent
Chapter: Six Conclusion and Recommendation6.0 Conclusion6.1 RecommendationReferencesAnnexure
Questionnaires
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List of Tables
SI No. Name of the Table Page No.1. Corporate Information of UCBL.2. Statistical Weighted Mean of data processing and analysis.3. Salary Structure of UCBL.4. Employee Bonus.5. Utility Allowances for employees.6. Basic Leave entitlements for the Executives.7. The Basic Leave entitlements for the Executives at Branches
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List of Abbreviation
SI. NO.
List Abbreviation
1. DPS Deposit Pension Scheme.2. ESOP Employee Stock Ownership Plan.3. EVP Executive Vice President.4. HRM Human Resource Management.5. NFCD Non Resident Foreign Currency Deposit Account.6. NRB Non-Resident Bangladeshi.7. NWD Nation Wide Direct.8. RFCD Resident Foreign Currency Deposit Account.9. RMG Ready Made Garments.10. SMS Short Message Service.11. UCBL United Commercial Bank Ltd.
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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 It’s 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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