An Internship Report On

An Internship Report On
Employee job satisfaction with compensation of

jamuna bank limited
Prepared for:
Nazma Akhter
Supervisor
Lecturer
Department Of business Administration
Notre Dame University of Bangladesh
Prepared by:
Imam Hossain Mishor

ID: 6-16010128
BBA Program
Double Major in HRM & Accounting
Department Of business Administration

Motijheel, Dhaka-1000
https://www.ndub.edu.bd/
Date of submission: 10th april 2020
Letter of Transmittal
April 10, 2020
Nazma Akhter
Lecturer
Notre Dame University Of Bangladesh, Dhaka.
Subject: Submission of Internship Report on “Employee Job Satisfaction with compensation of

jamuna Bank Limited”..
Dear Madam,
This is my pleasure to present my internship report entitled “Internship Report On Employee Job
Satisfaction with compensation of Jamuna Bank Limited.” I have conducted my internship
program in Jamuna Bank Limited, (munshiganj sme krishi branch) , under your close supervision. I
believe that knowledge and experience I gathered during the internship period will be helpful in my
future professional life. I will be grateful to you if you accept the report. I will be available for defense
on this report any time.
Your support in this regard will be highly appreciated. Thanking you for your time and kind
considerations.
Sincerely yours,
____________
Imam Hossain Mishor
ID – 6-16010128
BBA, Internship Semester
Notre Dame University Of Bangladesh
Preface
There is great difference between the theoretical and practical affairs. To justify the theoretical
knowledge practical orientation is greater importance internship program bringing the students close
to the practical world. The internship program has given me an immense opportunity to maximize
theoretical and practical knowledge. As a BBA student it is my great privilege to enter into this kind
of internship program. In this report, I have tried my best to make the study successful for which I
have been assigned. I am confessing some important information’s may be missing here but I have
tried to place authentic and realistic information in this report.
Certificate Of supervisor
This is to certify that, the report entitled “Effects of promotion system on employee job satisfaction of
Jamuna Bank Limited.” on (Munshiganj SME Krishi Branch), done by Md. Imam Hossain Mishor,
bearing ID: (6-16010128) as a partial fulfillment of “Bachelor Of Business Administration” from
BBA Department, Notre Dame University Of Bangladesh. This report has been complete as an
internship program under my supervision. The content of this report is prepared by himself from his
short working experience in Jamuna Bank Limited at (Munshiganj SME Krishi Branch). I have found
his hardworking and sincere throughout the internship period. Wishing him all the best for the future.
____________
Nazma Akhter
Supervisor
Lecturer
BBA Department
Faculty of Business Studies
STUDENT’S DECLARATION
I am Md. Imam Hossain Mishor, the student of Bachelor of Business Administration double major in
Human Resource Management and accounting ID: 6-16010128,I would like to somberly declaration
that the internship report on “Employee Job Satisfaction with compensation of Jamuna Bank
Limited: munshiganj sme krishi Branch” has been authentically prepared by me. While preparing
this report, I didn‟t breach any copyright act intentionally. I am further declaring that I didn’t submit
this report anywhere for awarding any degree, diploma or certificate.
I also confirm that the report is only prepared to my academic requirement not for any other purposes.
It will not be used with the interest of opposite party of jamuna Bank Limited.
Sincerely Yours,
____________
Md. Imam Hossain Mishor
ID: 6-16010128
Department Of Business Administration
Notre Dame University Of Bangladesh
Motijheel, Dhaka
Acknowledgement
Praise to Allah, the most magnificent and the most merciful, for granting me the opportunity to
complete the BBA program and therefore this report. Then I would like to take the opportunity to
express my gratitude to my honorable teacher Nazma Akhter, Lecturer, Notre Dame University Of
Bangladesh to provide guideline and opportunity to complete the report as a supervisor.
I like to express my thanks and deepest gratitude to Jamuna Bank Limited for giving me opportunity,
appointment and lastly certification for the internship program that I have completed. I also want to
acknowledge the guidance of the Manager and all officers and staffs of JBL (C Branch), who spread
their valuable time for me. I will never forget their kind and friendly behavior.
I am really thankful to branch Manager Mr. And Mr. Nuzmul Islam, munshiganj sme krishi Branch
who helped me to complete this report. I got full support from all staffs of the JBL (Munshiganj SME
Krishi Branch) especially I express my gratitude towards Mrs. Asiya khatun, Mrs morsheda and Mrs
nipa akter who gives all the support that I need to prepare the report.
I like to express my thanks and deepest gratitude to Mr. Nazmul Hassan (Executive Officer) Md.
Arshad Hossain (AGM) for his cordial behavior and help.
Executive Summary
This is the internship report based on the three month long internship program that I had successfully
completed in Jamuna Bank Limited under JBL Department from 10.01.2020 to 11.02.2020 as a
requirement of my BBA program on Department of Business Studies, Notre Dame University Of
Bangladesh. As being completely new to practical, corporate world setting, every hour spent in the
HRD gave me some amount of experience all the time all of which cannot be explained in words. But
nevertheless, they were all useful for my career.
Though I worked in JBL Department but for project work I had also an opportunity to take
information and know In HRD how to keep employees motivated as well as how to control
insubordinations, Employee Job satisfaction with compensation , how to lead etc. This report based on
Jamuna Bank Limited with Compensation, Pay and Benefits and HR Administration. Jamuna Bank
has a rich Human Resource Department. It maintains the organizational responsibilities successfully.
The HR team of Jamuna Bank is completely organized and well reputed team.
My personal views about the HRD, my value addition to the HRD are also included in the report.
With limited knowledge and experience I tried my best to make this report as much understandable as
possible and translated the real world experience into a document. The various boundaries to process
improvement and maintaining ethical standards in a corporate environment have also been
experienced. But even so, how those policies and practices are In-Line with the corporate strategy are
discussed in this report. Before drawing any conclusion based on this report it may be noted that the
report was prepared in a very short term and there is lack in data. But still the report may be useful for
designing any further study to evaluate the HR facilities provided by the banks.
Table Of Content
Chapter Pg No
 Letter Of Transmittal  Pg No - 2
 Preface  Pg No – 3
 Certificate Of supervisor  Pg No – 3
 Student’s Declaration  Pg No - 4
 Acknowledgement  Pg No - 4
 Executive Summary  Pg No - 4
Chapter Pg No
1 Organization  Pg no (1-5)
 Abstract  Pg no - 1
 Introduction  Pg no - 1
 Scope of the Report  Pg no - 2
ORGANIZATION OF
THE REPORT  Pg no - 3
 Pg no - 4
 History
 Pg no - 5
 Product/service offerings
 Operational Network
Organogaram Of Jamuna  Pg no - 5
Bank
 Pg no - 6
 Vision
 Pg no (6- 11)
 Mission
 Pg no - 6
 specific Objective of JBL
 Pg no – 7
02 Job
 Pg no – 7
 Job Description
 Specific Responsibilities of the  Pg no – (8-9)

Job
 Different aspect of job  Pg no – (9- 10 )

performance
 Observation  Pg no – 11
03. Description of the Project  Pg no – 12
 Objective of the Project  Pg no – (12- 13)
 Methodology  Pg no - (13 -14 )
 Methods of Collection: Data  Pg no – (14 -15)
 Limitation  Pg no – (15 – 17 )
 JOB SATISFACTION  Pg no – 17
Main body of the Project  Pg no – 17
 Organizational Practice  Pg no – ( 17 – 25)
Finding and Analysis  Pg no – 26
 Questionnaire On  Pg no – (26 -32)
 Measurement the Level of Job

Satisfaction of Employees  Pg no – (26 -32)
 Compensation, pay and benefit

of Jamuna Bank  Pg no – (32-33)
 Overview of Mutual Trust Bank  Pg no – (34- 36 )

 Pg no – (37 – 44)
on Mutual Trust Bank
 Pg no - 45
 Overview of Premier Bank
on Premier Bank  Pg no - 45
 The Comparison of Jamuna

Bank, Mutual Trust Bank and
Premier Bank  Pg no - 45
 Mejor Findings Of The Study  Pg no - 45
 Recommendation & Conclusion  Pg no - 45
 References  Pg no – 46
 Appendix  Pg no – 47
 Pg no - 48
Chapter 1
The organization:
Abstract: Modern Banking is an outcome development driven by changing financial activities
and lifestyle. It offers‐the widest range of financial services‐specially credit, savings, and
payment services and performs the widest range of financial functions of any business firm in
the economy. By definition, bank collects deposits from the money holders and invests the
accumulated saving of the depositors in the form of credit and other financial services to the
clients. At one hand the bank pays interest at a higher rate from borrowers to Realize profit. So,
we find that money works both as the input and output of the banking industry. The important
feature of banking operation is to earn a good image of trustworthiness to deal with money of
the depositors. Jamuna Bank is one of the recognized banks in our country. Commercial banks
are one of the key contributors in the economy of developing countries. The act as financial
intermediaries by performing of mobilizing the funds for one group and leading the same to
another while making a reasonable amount of profit after meeting the cost of fund. Banking
sector in Bangladesh has been pursuing the policy of expansion and growth of branches. People
and the government itself are very much dependent on the services provided by the 55 banks in
the financial markets. To know how well commercial banks perform actually. The banking
practice of conventional banking and Islamic banking is highly different from the concept. The
report is beginning introduced Introduction chapter. Then this report shows the banking sector
in Bangladesh. After that, the report represents Jamuna Bank Ltd. Which shows the
organizational chapter, the establishment, mission, vision, objectives, the next chapter shows
main part of the report Training and development of Jamuna Bank. The last chapter shows
findings of the study, Recommendations, conclusion and reference.
Introduction:
Each honors degree needs practical knowledge of the respective field of discipline to be fruitful. Our
BBA program also has an internship program, relating to the exchange of theoretical knowledge into
the real life practical situation.
It was great opportunity for me to complete my internship program in the largest commercial bank
"Jamuna Bank Ltd." This internship study was assigned as a part of the course requirement in order to
complete my BBA program.
The internship report titled “employee job satisfaction with compensation” is submitted of the
Bachelor of Business Administration program of University .The purpose of this internship report is to
learn how to conduct a professional research by exploring practically in banking sector. The topic was
assigned by my internship supervisor Lecturer Nazma Akhter Department of Business Administration.
It comprises the relationship analyst that private sector banks of Bangladesh in the compensation &
employee satisfaction. Bank is very old institution that is contributing toward the development of any
economy and is treated as an important service industry in the modern world. Economic history shows
that development has started everywhere with the banking system and its contribution towards
financial development of a country is the highest in the initial stage. Modern banks play an important
part in promoting economic development of a country. Bank provides necessary funds for executing
various programs in the process of economic development .they collect savings from large masses of
people scattered throughout the country, which in the absence of banks would have remained ideal
and unproductive, these scattered amounts are collected, pooled together and made available to
commerce and industry for meeting the financial requirement.
Bank plays a vital role in the economy by providing means of payment and mobilizing resources.
Bank is the most important financial institution in the economic development of a country depends on
the development of banking sector. Today’s modern banks are not only providing traditional banking
but also expanding the many financial services. In today’s world the life of the people directly are
within the arena of banking whether conventional or Islamic banking is not a newer concept in
Bangladesh as it has started its operation since 1983, very few people are aware about its operation.
But things are changing. Islamic banking is also getting popularity in the country.
Internship program essential for every student, especially for the students of Business Administration,
which helps them to know the real life situation, for this reason a student takes the internship program
at the last stage of the bachelor’s degree, to launch a career with some practical experience. Against
this backdrop, I have competed my three months internship in the Jamuna Bank Ltd., Munshiganj
SME Krishi, Branch, which has helped me a lot to understand the real life situation of banking
business.
Scope of the Report:
Jamuna Bank Ltd is now well known and it’s containing 1200 branches. Out of them,
342 are located in urban areas, 854 in rural areas, and 2 are located overseas.The scope of the report
will be limited to the organizational setup, function and operation of the Jamuna Bank Ltd in the
Bangladesh specially concerntrating on Jamuna Bank Ltd operations in
Foreign Exchange Branch but not the entire realmof the As I was sent to Jamuna Bank Ltd, Uttara
Branch, the scope of the study is only limited of this branch. The report covers its Employee job
satisfaction with compensation of Jamuna Ltd. Report also covers details about Jamuna Bank Ltd.
ORGANIZATION OF THE REPORT:
I developed the report by dividing it into five parts that are suggested by the department. The
introduction part covers the rationale of the study, objective of the study, research methodology, this
part and limitation of the study. In description of the organization part I discuss the organization’s
history, vission-mission and objectives the organization where I worked for internship. In the part of
literature review I tried to find out the exact definitions of the basis of my topics based on different
books and web sites. In data analysis and findings I tried to make relationship between literature
review and the exact scenario of the organization and at the last part I added my log book and daily
activities. At last part I tried to show summary, conclusion and recommendation from analysis and my
daily activities. At the ending I added references and appendix. In reference part I show the sources
from where I have taken the important messages. In appendix part I showed acronyms.
History:
Jamuna Bank Limited is a private commercial bank in Bangladesh. It was established on June 3, 2001.
Jamuna Bank has now in total of 97 branches as on April, 2015. Jamuna Bank Limited (JBL) is a
Banking Company registered under the Companies Act, 1994 of Bangladesh with its Head Office
currently at Hadi Mansion, 2, Dilkusha C/A, Dhaka-1000, and Bangladesh. The Bank started its
operation from 3 June 2001.
The Bank provides all types of support to trade, commerce, industry and overall business of the
country. JBL's finances are also available for the entrepreneurs to set up new ventures and BMRE of
existing industrial units. Jamuna Bank Ltd., the only Bengali named 3rd generation private
commercial bank, was established by a group of local entrepreneurs who are in the field of trade,
commerce, industry and business of the country.
The Bank offers both conventional and Islamic banking through designated branches. The Bank is
being managed and operated by a team with diversified experience in finance and banking.
At present the Bank has real-time Online banking branches (of both Urban and Rural areas) network
throughout the country having smart IT-backbone. Besides traditional delivery points the bank has
ATMs of its own, sharing with other partner banks and consortium throughout the country.
Product/ service offerings: JBL is a highly capitalized new generation bank

started its operation with an authorized capital of TK. 390 million as of December 2006 Paid-up
capital of Tk. 1072.50 million. As of June 30, 2007, their paid up capital is Tk. 1,072,500.00, share
premium is Tk. 85,800,000.00, statutory reserve is Tk. 249,667,430.00 and profit is Tk.
154,504,076.00.According to December 30,2009 their paid up capital is tk. 3,055,000.00, share
premium is tk.95,600,000, statutory reserve is 45,990,500.00 and profit is tk. 300,779,500.00. Their
profit reached to 350,100,000 on 30th October.
JBL undertakes all the types of banking transactions to support the development of trade and
commerce in the country. JBL’s services are also available for the entrepreneurs to set up new
ventures and BMRE of industrial units. The bank gives special emphasis on Export, Import, Trade
Finance, SME Finance, Retail Credit and Finance to the Women Entrepreneur. Jamuna Bank Ltd. the
only Bengali named new generation private commercial bank was established by a group of winning
local entrepreneurs conceiving an idea of creating a model banking institution with different outlook
to offer the valued customers, a comprehensive range of financial services and innovative products for
sustainable mutual growth and prosperity. The sponsors are reputed personalities in the field of trade,
commerce and industries.
The scenario of banking business is changing day by day, so the Bank’s responsibility is to device
strategy and new products to cope with the changing environment. Jamuna Bank Ltd. has already
achieved tremendous progress within only nine years. The bank has already ranked at top of the
quality service providers & is known for its reputation.
Jamuna Bank offers different types of Corporate and Personal Banking Services involving all
segments of the society within the purview of rules and regulations laid down by the Central Bank and
other regulatory authorities. As per the provisions of Bangladesh Bank license, the Bank has offered
initially its shares to public by Pre – IPO and subsequently sold shares to the public through IPO in the
year 2004. The shares of the Bank are listed with both Dhaka Stock Exchange Ltd. & Chittagong
Stock Exchange Ltd. JBL has established wide corresponded banking relationship with local and
foreign banks in order to provide services to its clients in respect of international trade. JBL is attempt
to covering major trade and financial interest home and abroad from the starting time stage.
Operational network Organgram of Jamuna Bank
Ltd:
Vision:
1. To become a leading banking institution and to play a pivotal role in the development of the
country.
2. To stand out as a pioneer banking institution in Bangladesh
3. To contribute significantly to the national economy
Mission:
The bank is committed to satisfying diverse needs of its customers through an array of products
at a competitive price by using appropriate technology and providing timely service so that a
sustainable growth, reasonable return and contribution to the development of the country can be
ensued with a motivated and professional work force.
Jamuna Bank Limited aims to become one of the leading banks in Bangladesh by prudence, flair
and quality of operations in their banking sector. The bank has some mission to achieve the
organization goals. Some of them are follows as:
1. Fast and accurate customer service and Innovative banking at competitive price.
2. High quality financial services with the help of latest technology.
3. Deep commitment to the society and the growth of national economy
4. Attract and retain quality human resource, high standard business ethics
5. Balanced growth strategy, steady return on shareholder’s equity.

Specific Objectives of JBL
 To earn and maintain CAMEL Rating ‘Strong’

 To establish relationship banking and improve service quality through development of
Strategic Marketing Plans.
 To remain one of the best banks in Bangladesh in terms of profitability and assets quality.
 To introduce fully automated systems through integration of information technology.
 To ensure an adequate rate of return on investment
 To keep risk position at an acceptable range (including any off balance sheet risk)
 To maintain adequate liquidity to meet maturing obligations and commitments.
 To maintain a healthy growth of business with desired image.
 To maintain adequate control systems and transparency in procedures.
 To develop and retain a quality work-force through an effective human Resources
Management System To ensure optimum utilization of all available resources
 To pursue an effective system of management by ensuring compliance to ethical norms,
transparency and accountability at all levels.
 To identify the compensation structure of Jamuna Bank.
 To evaluate the structure of Jamuna Bank and two other bank which open with together like
Mutual trust Bank, Premier bank.
 To compare the benefit of Jamuna Bank and two other banks also.
Chapter 2
Job Description:
I have worked JBL intern in three month at foreign exchange department. Foreign Exchange
department is international department of the bank. It deals globally. It facilitates international trade
through its various modes of services. It bridges between importers and exporters. If the branch is
authorized dealer in foreign exchange market it can remit foreign exchange from local country to
foreign country.
For providing better service in foreign trade JBL established correspondent relationship many foreign
Banks. Foreign Exchange department of JBL is divided into three sections:
 Import
 Export
 Foreign Remittance
Import financing:
The most important method of import is -financing International trade take place between sellers and
buyers located in different countries. The parties to a trade transaction are not always known to each
other. Even if they are known to each other the seller may not have full confidence in the carried
worthiness of the buyer or the buyer may not like to pay before he actually receives the goods. In
letter of credit the banker’s credit worthiness is substituted for the credit worthiness of the importer.
Under a bank- cards letter of credit, the issuing bank gives a written undertaking on behalf of the
buyer that the bank will honor the obligation of payment or expectance as the case may be on
presentation of stipulated documents. As the request of the importers bank issue the letter of credit at a
merging by the govt. instruction. Bail: does not generally issue the letter of credit less than 50%
margin. JBL follow the margin prescribed by the government strictly.
Specific responsibilities of the job: As an internee I have performed
numerous activities. My main task was to assist officers and in every aspects of their daily work. It
includes every activity that the officials performed like computer posting, document analysis etc.
1. Computer posting of transactions
2. Sorting of cheque according to serial number
3. Maintaining different registers
4. Filing different L/C related documents
5. Matching month wise L/C and Bills transaction value between server and register
6. Filling up EXP and IMP forms
7. Editing of L/C issue statement
8. Endorsement of different papers
9. Entry of cheque and deposits slips number and amount in the registers and give the serial
number to those slips
Different aspects of job performance: Within three months I have

learned lot of banking activities in banking sector. My supervisor and my other colleagues also helped
me to lot. Employees were very helpful and encouraged me to do activities.
Observation:
1. Due to regulations and policies of the country, there are great differences in the documentary
requirements of export and import LCs in Bangladesh. LCs issued from abroad i.e. export LC
asks for fewer documents than the LCs issued from our country. However, both import and
export LCs, submission of insurance documents are rarely asked for their requirement to be
covered by domestic insurance companies
2. There is shortage of computer in import section. Sometimes the shortage of computer makes
some unfortunate event in that section
3. Lack of skillful manpower in import section
4. Flora On-line banking software is used by JBL Gulshan Branch and this is quite difficult to
use for the employee as the employees are not well trained
5. Foreign exchange department has highly adhered with procedures; rules and regulations
provided by Bangladesh bank but most of the cases the officers are not knowledge about this
regulation and Acts
6. Branch has no any IT expert person as a result they are fully depending on Head Office IT
section and its time consuming when face any computer problem
7. The procedures to open documentary credit are full of hard and fast rules & regulations (as per
Bangladesh bank) but compare to other banks, JBL is very much fasted to open documentary
credit
8. Internet services are not available and slow internet speed as a result banking activities
hampered
9. In our country, financial problem is a great constraint in foreign trade. JBL is very
conservative for post shipment finance
10. The Bank undertaken strong policy Guideline to regulate and monitor to minimize the foreign
exchange risk due to exposure in currency movement
Chapter 3
Project:
Broad Objective:
The main objective of this report is to analyses the pay structure and benefits of banking sector. In
2001, our Government gave permit for opening lots of banks like Jamuna Bank, Meghna bank, one
bank, Mutual trust bank, First security bank, Premier Bank etc. I have to compare Jamuna Bank with
two other banks about their compensation and get benefits from bank.
Specific Objective:
1. To identify the compensation structure of Jamuna Bank.
2. To evaluate the structure of Jamuna Bank and two other bank which open with together like
Mutual trust Bank, Premier bank.
3. To compare the benefit of Jamuna Bank and two other banks also.
Methodology:
Primary data sources:

The following methodology will be followed for the study based on observation and interpretation.
Data sources are scheduled on an informal discussion with officials, company website and observation
while working in different desks.
Secondary data sources: Secondary data are data collected for some purpose other than
the main facts. Secondary data are quick source of background information. I also collected
information from secondary data sources. The sources are:
 Internet
 Financial statements
 Interview with the HR (Human Resource) personnel
 Previous reports on HR of Jamuna Bank and Premier Bank, Mutual trust Bank.
Methods of Data Collection:

For data collection ― Interview method was used. Interviews were taken with the officers of
Munshiganj SME Krishi Branch of Jamuna Bank Ltd. through questionnaire.
Sampling Method: Convenience sampling method has been performed for selecting samples.
Sample Size: There are 31 respondents.
Data Analysis Technique: MS Excel was used for data analysis.

Limitation:
1. Insufficient information is found from the annual report, company’s website regarding with
my topic.
2. Important publications, prospectus, article etc are not available in the brunch related my topic
of the project.
3. The bank staffs are restricted to disclose about the compensation package
4. Bank is a very busy pecuniary institution; therefore it would be harsh and complicated for
them to give me sufficient time
5. Constant and continuous changes in HR policies is the most problematic issue for me, since
being updated with the most recent decision seemed to be very critical as they were more
confidential than they used to be.
6. Only my experience of three months is not that much enough to describe the policies in detail
since they have more than 14 hundred people working in the organization. Knowing policies
and benefits for different level and band seems to be very tough while I was analyzing the
issues within such a short period of time.
7. For recent political issues they have changed so mane HR policies and the minimized their
talent acquisition activities and that actually is not the usual scenario for the company which
unfortunately I had to take into consideration.
8. It was tough to manage the tine to complete the report due to time constrains of the
Interviewees.
9. The branch is too much dependable on Head Office because whenever I asked any question
they were confused and then take information in main branch.
JOB SATISFACTION: A LITERATURE REVIEW
Job satisfaction represents one of the most complex areas facing today’s managers when it comes to
managing their employees.
Many studies have demonstrated an unusually large impact on the job satisfaction on the motivation
of workers, while the level of motivation has an impact on productivity, and hence also on
performance of business organizations. Unfortunately, in our region, job satisfaction has not still
received the proper attention from neither scholars nor managers of various business organizations.
Despite its vide usage in scientific research, as well as in everyday life, there is still no general
agreement regarding what job satisfaction is. In fact there is no final definition on what job represents.
Therefore before a definition on job satisfaction can be given, the nature and importance of work as a
universal human activity must be considered. Different authors have different approaches towards
defining job satisfaction. Some of the most commonly cited definitions on job satisfaction are
analyzed in the text that follows. It is defined job satisfaction as any combination of psychological,
physiological and environmental circumstances that cause a person truthfully to say I am satisfied
with my job. According to this approach although job satisfaction is under the influence of many
external factors, it remains something internal that has to do with the way how the employee feels.
That is job satisfaction presents a set of factors that cause a feeling of satisfaction. Job satisfaction
represents a combination of positive or negative feelings that workers have towards their work.
Meanwhile, when a worker employed in a business organization, brings with it the needs, desires and
experiences which determinates expectations that he has dismissed. Job satisfaction represents the
extent to which expectations are and match the real awards. Job satisfaction is closely linked to that
individual's behavior in the work place Job satisfaction can be defined also as the extent to which a
worker is content with the rewards he or she gets Out of his or her job, particularly in terms of
intrinsic motivation Job satisfaction is the collection of feeling and beliefs that people have about their
current job. People’s levels of degrees of job satisfaction can range from extreme satisfaction to
extreme dissatisfaction. People also can have attitudes about various aspects of their jobs such as the
kind of work they do, their coworkers, supervisors or subordinates and their pay The importance of
job satisfaction specially emerges to surface if had in mind the many negative consequences of job
dissatisfaction such a lack of loyalty, increased absenteeism, increase number of accidents etc. lists
three important features of job satisfaction. First, organizations should be guided by human values.
Such organizations will be oriented towards treating workers fairly and with respect. In such cases the
assessment of job satisfaction may serve as a good indicator of employee effectiveness. High levels of
job satisfaction may be sign of a good emotional and mental state of employees. Second, the behavior
of workers depending on their level of job satisfaction will affect the functioning and activities of the
organization's business. From this it can be concluded that job satisfaction will result in positive
behavior and vice versa, dissatisfaction from the work will result in negative behavior of employees.
Third, job satisfaction may serve as indicators of organizational activities. Through job satisfaction
evaluation different levels of satisfaction in different organizational units can be defined, but in turn
can serve as a good indication regarding in which organizational unit changes that would boost
performance should be made.
16
MEASURING JOB SATISFACTION
Usually job satisfaction is measured by using general scientific research methods such as the
questionnaire. Some of the most commonly used techniques for measuring job satisfaction include:
_ Minnesota satisfaction questionnaire and
_ Job description index
The Minnesota Satisfaction Questionnaire is a paper-pencil type of a questionnaire and can be

implemented both individually and in group, but it does not take sex differences into consideration.
This questionnaire has one short form and two long forms that date from 1967 and 1977. In fact 20
work features in five levels are measured with this questionnaire. Responding to this questionnaire
usually takes between 15-20minutes.The 1967 version of the Minnesota Satisfaction Questionnaire
uses the following response categories:
_ not satisfied,
_ Satisfied,
_ Very satisfied and
_ extremely satisfied.
The 1977 version of the Minnesota Satisfaction Questionnaire uses the following response categories:
_ Very satisfied,
_ Satisfied,
_ Neither satisfied nor dissatisfied,
_ Dissatisfied and
_ Very dissatisfied.
Main Body of the Project:
Compensation: Compensation is a systematic approach to provide extrinsic and intrinsic

benefits, monetary and non monetary benefits to the employees. It is also considered as measurement
how employees are being treated in an organization. Each and every organization has their own
compensation planning where they specify what facilities are going to provide their employees, how it
17
should be provided and based on what category. Having the theoretical knowledge of compensation I
feel interest to know about the real scenario of compensation practices and how it is being
implemented in an organization of our country. I have selected Jamuna Bank to know about their
compensation system and employee satisfaction. The human resources policy and procedure manual
of Jamuna Bank provides the policies and procedures for managing and developing staffs. It also
provides the guideline will use to administer these policies with the correct procedure to follow. These
policies and procedures are applied to the employees of Jamuna Bank. It refers to all forms of pay or
rewards going to employee and arising from their employment, and it has two main components.
There are direct financial payments in the form of wages, salaries, incentives, commissions, and bonus
and there are indirect payment in the form of financial benefits like employer- paid insurance and
vacations.
Reward:
Reward basically provided to the employees of the organization for their good performance. It is of
two types (1) Intrinsic and (2) Extrinsic.
(1) Intrinsic Reward:
It is the personal satisfactions one gets from the job itself. These are self-initiated rewards, such
as having pride in one’s work.
(2) Extrinsic Reward:

It includes money, promotions and benefit. Their common thread is that they are external to the
job and come from outside source, mainly management.
Benefits:
Benefits include mandatory protection programs, pay for time not worked, optional protection
programs, private retirement plans and a wide variety of other services.
18
Organizational Practice:
Jamuna Bank Limited usually provides more or less the above compensation, reward and benefits.
They provided financial compensation like Basic salary, Bonus, Wages, Incentives and Non-financial
like Housing, Medical, Transportation, Insurance.
Compensation, rewards, benefits:
Pattern of Compensation
Financial Non Financial

Basic salary Housing facilities
Incentives Transportation
Bonus Vacation
Wages Insurance
Pattern of Reward and Benefit
Reward Benefit
Increment (Double/ Triple) Provident firm
Promotion Gratuity
Profit bonus
19
Finding and Analysis:
Compensation, pay and benefit on Jamuna Bank:
The Bank is committed to follow a fair, competitive and flexible remuneration policy. The Board is
the final authority for approval of this policy and will amend and review the policy on
recommendation of the Managing Director / Management Committee periodically. The remuneration
policy of the bank will cover all persons engaged in permanent service of the bank.
The different job grades at Jamuna Bank are as follows:
 Managing Director
 Associate Managing Director
 Deputy Managing Director
 Senior Executive Vice President
 Executive Vice President
 Senior Vice President
 Vice President
 Senior Assistant Vice President
 Assistant Vice President
 First Assistant and Vice President
 Senior Executive Officer
 Executive Officer
 First Executive Officer
 Officer
 First Officer
 Assistant Officer
18
Elements of job satisfaction:
I feel, the employees are satisfied with the organization. Based on the following elements of job
satisfaction:
 Bank Profile: The Bank is well reputed and the employees are satisfied with the
Organization and its reputation.
 Authority: The authority of every employee is well defined and distributed.
 Autonomy: Some autonomy among employees has been found in this organization.
 Service Rules: The service rule is not well designed.
 Behavior of Management: Majority of the employees are satisfied with the behavior of
the Management.
 Awareness about Bank Goal: Employees are aware about the bank’s Goal and the goal
regularly reviewed by the Management.
 Style of Management: Style of Management is acceptable by every employee.
 Work Rules: The work rules are well defined in the memorandum of the bank.
 Working Condition: Working condition of the bank is very friendly and employees are
enjoying their work for this reason.
 The Job Itself: Despite some drawback, employees are satisfied with their job.
 Salary/Yearly Increment: Satisfaction regarding salary is high among the senior
employees only. But junior employees showed dissatisfaction regarding this. And Yearly 2
increment is available in this Bank.
 Transport Facility: The bank does not provide any transport facility but bank provide
transportation cost.
 Medical: Medical allowance is included in the salary.
 Home Rent: House Rent allowance is included in the salary.
 Provident Fund: There is provident fund in the bank.
 Gratuity: There are provisions of provident fund in the bank.
 Promotion Policy: There is structured promotion policy available here. For this reason
employees are satisfied.
 Bonus: Though bank promotes employees on time, the employees are provided incentive
bonus and special increments for their performance.
 Security: The employees are satisfied on their job security.
 Technology Support: Technological support by the Bank is moderate.
 Training: Bank cannot provide off the job training facility for the employees and they are
not satisfied in this regard.
19
The above aspects are very important for employee satisfaction, which is an important path to achieve
customer satisfaction too. The employees want the improvement of the organization, its technology,
its management policy etc.
Data Analysis and Interpretation:
The data after collection is to be processed and analyzed in accordance with theoutline and down for t
he purpose at the time of developing research plan. Technically speaking, processing implies editing,
coding, classification, tabulationand of collected data so that they are amenable to analysis. The term
analysis refers to the computation of certain measures along with searching for pattern groups.
Thus in the process of analysis, relationshipor difference should be subjected to statistical tests of
significance to determine with what validity data can be said to indicate any conclusions.
The analysis of data in a general way involves a number of closely related operations,
which are performed with purpose of summarizing the collected data and organizing them in such a m
anner that they answer the research questions.
In this study the researcher followed above process carefully and it is presented in this chapter.
Maximum employees of this bank work for more than 5 years or above.
The employees are familiar with the departmental goals as well as organizational goal.
All employees are agreeing to the point that they work well together to solve problems and get the
job done. Senior level employees are involved in decision making.
All employees got training to do the job efficiently and effectively.
Questionnaire Analysis:
One set of questionnaire were used in the research. In this questionnaire
close ended and open ended questions were used in the questionnaire. The average
questionnaire administered time is 30 minutes for each employee. A
Questionnaire survey was conducted on several high officials,
mid managers and general employees to collect information. To collect information by survey,
personally I have interviewed both employees in shape of depth interview.Through the interview proc
ess I gathered a lot of internal and external knowledge and information.
Depending on various types of questions, the analyses are given below:
20
Components that Prompt Job Satisfaction of the Employees:
According to studies conducted by Hoppock, the important factors that matter in job satisfaction are:
1) Financial: It goes without saying that the financial considerations like fair wages, do matter in job
satisfaction, but apart from that there are good many other things that influence job satisfaction. These
are:
 1) Relative status, which an individual holds within the economic and social groups with which he
identifies himself.
 2) Relationships with supervisors and associates on the job.
 3) Work situations, including the nature of work.
 4) Working conditions-earnings, hour of work, facilities, etc.
 5) Greater opportunities for advancement.
 6) Variety in work, that does away with the dullness and monitoring of work.
 7) Thrill and excitement of the work.
 8) Job security-steady employment.
 9) Ability to adjust oneself to unpleasant circumstances.
In 1959, psychologist Frederick Herzberg and his associates in their research report findings entitled
“The Motivation of Work” in Pittsburgh have stated that five factors are important in job satisfaction
and these are:
2) Achievement: It brings to the workers, feelings that he has done something of which he could
naturally be proud of. He feels satisfied and pleased with his achievements.
3) Recognition: If the workers supervisors, recognizing his good work, appreciate and say a word or
two of praise and give a pat at his back for good quality of product, he has turned out, the worker
feels, his achievement has been recognized and so he gets job satisfaction.
21
4) The Work Itself: The job that involves work, which is interesting, challenging and has variety all
through, from the beginning to the end, itself stands complimented and afford job satisfaction to the
worker.
5) Responsibility: Jobs done by the workers of their own initiatives, with full responsibility and
without being supervised, merits consideration with the workers, as having been well accomplished
and thus workers feel very much satisfied with their jobs.
6) Advancement: Sudden promotion of the employees in recognition of his good work, caused the
employees much satisfaction about his job.
Questionnaire Sample
Dear Respondents,
I am Md. Imam Hossain Mishor, A student of BBA program Notre Dame University Of Bangladesh,
conducting a survey on “Effects of promotion system on employee job satisfaction of Jamuna bank
Limited”. The following questions are designed to get your valueable opinion regarding the employee
job satisfaction with compensation of your organization. Kindly noted that this is an academic study
and the findings will remain confined within academic interests. No part of this study will be
disclosed. Your kind cooperation will be highly appreciated.
22
Section-01 Personal Information
1. Name of the Respondent ……………………………………………………………….
2. Age …………………………..
3. Gender:
o Male
o Female
4. Designation
o Assistant General Manager

o Senior executive
o Executive
o Officer
o Staff
5. What do you prefer more in your job?
o Salary
o Recognition
o Security
o Peomotion
o Honour
o Contact
o All of the above
6. In thinking about the verify of tasks your position require, would you say that there are
too many, enough or not enough?
o Too many
o Enough
o Not enough
7. Would you advice a friend to apply for a job at this company?
o Definitely
o Probably
23
o Not sure
o Probably not
o Definitely not
8. Have you observed or experienced any of the following forms of discrimination on the
promotion system at this company?
o Gender discrimination
o Racial discrimination
o Rural discrimination
o Urban discrimination
o Other discrimination
o None observed
9. What is preferred more in promotion system?
o Experience
o Seniority
o Juniority
o Performance
o Nepotism
24
please trick () your option about the following statements range from Strongly Agree to
Please trick () your option about the following statements range from Strongly Agree to
Strongly Disagree]
Employees Job Satisfation with compensation of jamuna bank limited (munshiganj sme krishi
branch)
Dissastified
SL.No To what extent do you agree with Strongly Satisfied Neutral Strongly
the following statement: Satisfied (2) (3) (4)
Dissastified
(1) (5)
1 I am satisfied with my working
environment in this company
2 I am satisfied with the overall job
security that's are provided from
my company
3 The company paid the basic
salary on time
4 I am satisfied with my dearness
allowance
5 I am satisfied with my house rent
allowance
6 I am satisfied with my house loan
25
allowance
7 I am satisfied with my travel
allowance
8 The company paid the bonus in
just time
9 I am satisfied with my level of
increment and welfare facilities
10 The increment increase in the
correct proportion in every year
11 The incentive are always given in
the correct proportion
12 I am satisfied with my city
compensation allowance
13 I am satisfied with my skills upg
allowance
14 Employer are provided me
enough insurance coverage
15 I am satisfied with my career
advancement opportunities
16 I am satisfied with the benefits
(like tea, coffee, biscuit, snake)
provided by my company
17 I am satisfied with the other
benefits offered by my company
18 I am satisfied with the company
provident funds facilities
19 My pay structure and promotions
are appropriate enough
20
I am satisfied with the leave
encashment facility
21 I am satisfied with the future
retirement medical benefits
22 I am satisfied with the pension plan
23 I am satisfied with extrinsic
26
rewards
24 I am satisfied with the rewards
related to performance
25 I am satisfied with the reward for
overtime or any other extra work
26 I am satisfied with my current job
because of efficiency compensation
system
27 I have all the tools and resources I
need to do my job
28 I have the proper training and
development opportunities I need
to do my job
29 I am satisfied with my holiday
provide through my company
30 I am satisfied with my company
tour and picnic festival in every
year
Measurement the Level of Job Satisfaction of Employees:
In below, I targeted my sample size as 35. Collected data is analyzed using Microsoft Excel, 2007 The
findings part requires 30 questions, each question has 5 options and those question answers with
graphical presentation. The data of each question were used for analyzing the level of job satisfaction
of employees of Jamuna Bank Ltd at Munshiganj SME Krishi Corporate Branch. Level of job
satisfaction measured through strongly satisfied to strongly dissatisfy with percentage. The findings
from each of the questions are given below with analysis:
27
Satisfaction survey data.1
I am satisfied with my working environment in this company
Strongly satisfied Satisfied Neutral Dissatisfied Strongly

dissatisfied
17 14 0 0 0
I am satisfied with my working environment in this company
Strongly dissatisfied
Dissatisfied
Nautral
Satisfied
Strongly satisfied
0 2 4 6 8 10 12 14 16 18
Explanation: The above diagram reports among the total number of responders, 17 are strongly
satisfied, among them 14 responders are satisfied, 0 are neutral, 0 responders are dissatisfied and 0
strongly dissatisfied. That means more employees are strongly satisfied to their working environment
in this company.
Interpretation: That means most of the employees are satisfied to their working environment in
this company.
28
I am satisfied with the overall job security that are provided from my company

dissatisfied
16 10 5 0 0
I am satisfied with the overall job security that are provided from my
company
Dissatisfied
Neutral
Satisfied
Strongly satisfied
0 2 4 6 8 10 12 14 16 18
strongly dissatisfied. That means more employees are strongly satisfied to their overall job security
that are provided from company.
Interpretation: That means most of the employees are satisfied and very few are neutral to their
overall job security that are provided from company.
29
The company paid the basic salary on time

dissatisfied
12 18 1 0 0
The company paid the basic salary on time
Dissatisfied
Neutral
Satisfied
Strongly satisfied
0 2 4 6 8 10 12 14 16 18 20
strongly dissatisfied. That means more employees are satisfied to The Company are paid the basic
salary on time.
Interpretation: That means most of the employees are satisfied and very few are neutral to The
Company paid the basic salary on time.
30
I am satisfied with my dearness allowance

dissatisfied
5 14 9 3 0
I am satisfied with my dearness allowence
Dissatisfied
Neutral
Satisfied
Strongly satisfied
0 2 4 6 8 10 12 14 16
strongly dissatisfied. That means more employees are satisfied with the company dearness allowance.
Interpretation: That means most of the employees are satisfied and very few are neutral and others
dissatisfied with the company dearness allowance.
31
I am satisfied with my house rent allowance

dissatisfied
5 11 15 0 0
I am satisfied with my house rent allowence
Dissatisfied
Neutral
satisfied
Strongly satisfied
0 2 4 6 8 10 12 14 16
strongly dissatisfied. That means more employees are neutral with the company house rent allowance.
Interpretation: That means most of the employees are neutral and very few are satisfied with the
company house rent allowance.
32
I am satisfied with my house loan allowance

dissatisfied
5 13 12 1 0
I am satisfied with me house loan allowence
Dissatisfied
Neutral
Satisfied
Strongly satisfied
0 2 4 6 8 10 12 14
satisfied, among them 13 responders are satisfied, 12 are neutral, 1responders are dissatisfied and 0
strongly dissatisfied. That means more employees are satisfied with the company house loan
allowance.
Interpretation: That means most of the employees are satisfied and very few are neutral and other
dissatisfied with the company house loan allowance.
33
I am satisfied with my travel allowance

dissatisfied
7 9 15 0 0
I am satisfied with my travel allowence
Dissatisfied
Neutral
Satisfied
Strongly satisfied
0 2 4 6 8 10 12 14 16
strongly dissatisfied. That means more employees are neutral with the company travel allowance.
company travel allowance.
34
The company paid the bonus in just time

dissatisfied
16 13 3 0 0
The company paid the bonus in just time
Dissatisfied
Neutral
Satisfied
Strongly satisfied
0 2 4 6 8 10 12 14 16 18
strongly dissatisfied. That means more employees are strongly satisfied with the company paid the
bonus in just time.
Interpretation: That means most of the employees are satisfied and very few are neutral with the
company paid the bonus in just time.
35
I am satisfied with my level of increment and welfare facilities

dissatisfied
9 16 5 1 0
I am satisfied with my level of increment and welfare facilities
Dissatisfied
Neutral
satisfied
Strongly satisfied
0 2 4 6 8 10 12 14 16 18
strongly dissatisfied. That means more employees are satisfied with the company level of increment
and welfare facilities.
dissatisfied with the company level of increment and welfare facilities.
36
The increment increase in the correct proportion in every year

dissatisfied
7 17 6 1 0
The increment increase in the correct proportion in every year
Dissatisfied
Neutral
satisfied
Strongly satisfied
0 2 4 6 8 10 12 14 16 18
strongly dissatisfied. That means more employees are satisfied with the company increment increase
in the correct proportion in every year.
dissatisfied with the company increment increase in the correct proportion in every year.
37
The incentive are always given in the correct proportion in every year

dissatisfied
7 16 5 2 1
The incentive are always given in the correct proportion in every year
Dissatisfied
Neutral
satisfied
Strongly satisfied
0 2 4 6 8 10 12 14 16 18
strongly dissatisfied. That means more employees are satisfied with the company incentive are always
given in the correct proportion in every year.
dissatisfied with the company incentive are always given in the correct proportion in every year.
38
I am satisfied with my city compensation allowance

dissatisfied
6 3 18 4 0
I am satisfied with my city compensation allowence
dissatisfied
Neutral
Satisfied
Strongly satisfied
0 2 4 6 8 10 12 14 16 18 20
strongly dissatisfied. That means more employees are neutral with the company city compensation
allowance.
Interpretation: That means most of the employees are neutral and very few are satisfied and
others dissatisfied with the company city compensation allowance.
39
I am satisfied with my skill upgrade allowance

dissatisfied
5 12 10 4 0
I am satisfied with my skill upgrade allowence
Dissatisfied
Neutral
satisfied
Strongly satisfied
0 2 4 6 8 10 12 14
strongly dissatisfied. That means more employees are satisfied with the company skill upgrade
allowance.
dissatisfied with the company skill upgrade allowance.
40
Employer are provided me enough insurance coverage

dissatisfied
3 10 17 1 0
Employer are provided me enough insurance coverage
Dissatisfied
Neutral
satisfied
Strongly satisfied
0 2 4 6 8 10 12 14 16 18
strongly dissatisfied. That means more employees are neutral with the company provided enough
insurance coverage.
Interpretation: That means most of the employees are neutral and very few are satisfied and others
dissatisfied with the company provided enough insurance coverage.
41
I am satisfied with my career advancement opportunities

dissatisfied
6 18 7 0 0
I am satisfied with my career advancment opportunities
Dissatisfied
Neutral
satisfied
Strongly satisfied
0 2 4 6 8 10 12 14 16 18 20
strongly dissatisfied. That means more employees are satisfied with the company provided career
advancement opportunities.
company provided career advancement opportunities.
42
I am satisfied with the benefits (like tea, coffee, biscuit, snack) provided by my company

dissatisfied
3 10 14 4 0
I am satisfied with the benefits(like tea,coffee,biscuit,snack)provided by my

company
Dissatisfied
Neutral
satisfied
Strongly satisfied
0 2 4 6 8 10 12 14 16
strongly dissatisfied. That means more employees are neutral with the benefits (like tea, coffee,
biscuit, snack) provided by my company.
43
Interpretation: That means most of the employees are neutral and very few are satisfied and other
dissatisfied with the benefits (like tea, coffee, biscuit, snack) provided by company.

I am satisfied with the other benefits offered by my company

dissatisfied
7 16 7 1 0
I am satisfied with the other benefits offered by my company
Dissatisfied
Neutral
satisfied
Strongly satisfied
0 2 4 6 8 10 12 14 16 18
strongly dissatisfied. That means more employees are satisfied with the other benefits offered by
company.
44
dissatisfied with the other benefits offered by company.

I am satisfied with the company provident funds facilities

dissatisfied
6 5 19 1 0
I am satisfied with the company provident funds facilities
Dissatisfied
Neutral
Satisfied
Strongly satisfied
0 2 4 6 8 10 12 14 16 18 20
45
strongly dissatisfied. That means more employees are neutral with the company provident funds
facilities.
dissatisfied with the company provident funds facilities.

My pay structure and promotions are appropriate enough

dissatisfied
4 15 12 0 0
My pay structure and promotions are appropriate enough
Dissatisfied
Neutal
satisfied
Strongly satisfied
0 2 4 6 8 10 12 14 16
46
strongly dissatisfied. That means more employees are satisfied with the company pay structure and
promotions are appropriate enough.
dissatisfied with the company pay structure and promotions are appropriate enough.

I am satisfied with the leave encashment facility

dissatisfied
4 8 19 0 0
I am satisfied with the leave encashment facility
Dissatisfied
Neutral
Satisfied
Strongly satisfied
0 2 4 6 8 10 12 14 16 18 20
47
strongly dissatisfied. That means more employees are neutral with the company pay leave encashment
facility.
company pay leave encashment facility.

I am satisfied with the future retirement medical benefits

dissatisfied
6 13 12 0 0
I am satisfied with the future retairment medical benefits
Dissatisfied
Nuetral
Satisfied
Strongly satisfied
0 2 4 6 8 10 12 14
48
strongly dissatisfied. That means more employees are satisfied with the company future retirement
medical benefits.
company future retirement medical benefits.

I am satisfied with my pension plan

dissatisfied
5 16 10 0 0
I am satisfied with my pension plan
Dissatisfied
Neutral
Satisfied
Strongly satisfied
0 2 4 6 8 10 12 14 16 18
49
strongly dissatisfied. That means more employees are satisfied with the company pension plan.
company pension plan.

I am satisfied with extrinsic rewards

dissatisfied
4 15 12 0 0
I am satisfied with extrinsic rewards
Dissatisfied
Neutral
Satisfied
Strongly satisfied
0 2 4 6 8 10 12 14 16
50
strongly dissatisfied. That means more employees are satisfied with the company extrinsic rewards.
company extrinsic rewards.

I am satisfied with the rewards related to performance

dissatisfied
3 21 7 0 0
I am satisfied with the rewards related to perfomance
Dissatisfied
Neutral
Satisfied
Strongly satisfied
0 5 10 15 20 25
51
strongly dissatisfied. That means more employees are satisfied with the company rewards related to
performance.
company rewards related to performance.

I am satisfied with the reward for overtime or any other extra work

dissatisfied
2 12 16 0 0
I am satisfied with the reward for overtime or any other extra work
Dissatisfied
Neutral
Satisfied
Strongly satisfied
0 2 4 6 8 10 12 14 16 18
52
strongly dissatisfied. That means more employees are neutral with the company rewards for overtime
or any other extra work.
company rewards for overtime or any other extra work.

I am satisfied with my current job because of efficiency compensation system

dissatisfied
7 21 3 0 0
I am satisfied with my current job because of efficiency compansation system
Dissatisfied
Neutral
Satisfied
Strongly satisfied
0 5 10 15 20 25
53
strongly dissatisfied. That means more employees are satisfied with the company current job because
of efficiency compensation system.
company current job because of efficiency compensation system.

I have all the tools and resources I need to do my job

dissatisfied
3 20 7 1 0
I have all the tools and resources I need to do my job
Dissatisfied
Neutral
Satisfied
Strongly satisfied
0 5 10 15 20 25
54
strongly dissatisfied. That means more employees are satisfied with the company which are provide
all the tools and resources that’s needed to do the job.
dissatisfied with the company which are provide all the tools and resources that’s needed to do the
job.

I have the proper training and development opportunities I need to do my job

dissatisfied
4 20 6 1 0
I have the proper training and development opportunities I need to do my job
Dissatisfied
Neutral
Satisfied
Strongly satisfied
0 5 10 15 20 25
55
strongly dissatisfied. That means more employees are satisfied with the company which are provide
proper training and development opportunities that’s needed to do the job.
dissatisfied with the company which are provide proper training and development opportunities that’s
needed to do the job.

I am satisfied with my holiday provide through my company

dissatisfied
4 10 11 6 0
I am satisfied with my holiday provide through my company
Dissatisfied
Neutral
Satisfied
Strongly satisfied
0 2 4 6 8 10 12
56
strongly dissatisfied. That means more employees are neutral with the holiday provide through the
company.
dissatisfied with the holiday provide through the company.

I am satisfied with my company tour and picnic festival in every year

dissatisfied
10 11 10 0 0
I am satisfied with my company tour and picnic festival in every year
Dissatisfied
Neutral
Satisfied
Strongly satisfied
0 2 4 6 8 10 12
57
strongly dissatisfied. That means more employees are satisfied with the company tour and picnic
festival in every year.
company tour and picnic festival in every year.
Salary structure:
Managing Director TK 600000 – TK 800000
Associate Managing Director TK 600000 – TK 700000
Deputy Managing Director TK 500000
Senior Executive Vice President TK 300000
Executive Vice President TK 250000
Senior Vice President TK 200000-TK 220000
Vice President TK150000 –TK 180000
Senior Assistant Vice President TK130000- TK 150000
Assistant Vice President TK 100000 – TK 120000
First Assistant Vice President TK 85000 – TK 90000
Senior Executive Officer TK 75000 – TK 80000
Executive Officer TK 65000- TK 70000
58
First Executive Officer TK 55000- TK 60000
Officer TK 30000 – TK 35000
First Officer TK 25000-TK 30000
Assistant Officer TK 20000 – TK 25000
59
Salaries are confidential between the employees concerned and the Management. The salary ranges
for these job grades are reviewed from time to time.
HR Temporary & outsource staff do not have any assigned job grade. The contracts get a consolidated
payment per month and there are no other entitlements applicable except commission based on job
criteria.
Basic Pay
Basic Salary Ranges (BSRs) is commensurate with the job grades and is determined by the Board on
the recommendation of the Managing Director. The Board reviews the BSR at least once every
two/three years.
□ Annual increment: All confirmed staffs get increment each and every year based on their
level.
□ Advance payment: If someone goes outside of office and there is no chance of coming
back within that month he/she will be given advance payment salary.
Festival Bonus
All regular and confirmed employees get two bonuses each year. One in Eid-Ul-Fitr and another
during Eid-Ul-Azha only for Muslims and employees of different religion gets that bonus during their
respective religious festival.
Other than the above benefit there is a Provident Fund System, a Gratuity System, Insurance Policy,
Employee Security and Welfare Fund maintained by the Bank.
Regular and confirmed employees can apply for House Building Loan and Car Loan. Allowances are
also available to only regular and confirmed employees but Car Allowances are only for the grades
above Assistant Vice President (AVP).
There is an annual increment for all regular and confirmed employees on their joining anniversary.
 Festival Bonus will be paid to all confirmed officers/staff at one month basic salary which will
be reimbursed twice in each calendar year. All confirmed employees would get one bonus
during Eid-ul-Fitre and another one for Muslims during Eid-ul-Azha and for others based on
their respective religious festival.
 Non-confirmed employees will be entitled to get Festival bonus as pro rata basis depending on
his/her joining Date.
 HR Contract & Outsource Staff would get 1 bonus, which is 50% of this gross salary
Pay for time not worked:
Weekly Holiday: Two holidays (Friday & Saturday) per week for the employees of JAMUNA
Bank. Security guards (male) can enjoy one holiday for every 15 working days. That means they get 2
holidays in a month.
Annual Holiday: According to the published list of leave by main office the annual leave plan for
the employees of JAMUNA Bank is decided. These holidays are basically the government holidays. It
is determined based on government holidays.
Sick Leave: 14 days sick leave with pay is provided to the staffs of JAMUNA each and every year.
Maternity Leave: JAMUNA provides 6 months with pay maternity leave to its female staffs.
Extra 6 months non paid maternity leave is also given to the staffs of JBL.
Paternity Leave: 7 days paternity leave is given to the all confirmed staffs of JBL at a stretch. Non
confirmed staffs are not eligible to get this leave.
Accidental Leave: Every employee can take this leave due to accident in work place, in case of
hospitalized because of accident or surgery issues. JBL gives 21 days with pay accidental leave for
accidental or surgical issue to its staff. If required more leave, staffs of JBL can take more days leave
but that will be given as without pay. For certain cases authority provides 21 day’s extra leave.
Compulsory leave: Those who work five days in a week they get 5 days compulsory leave in a
year at a stretch.
Extra ordinary leave: It is without pay leave. To get this leave staffs must work for JBL at least 5
years. Those who work 5 years they are given 1 year extra ordinary leave at a stretch. Those who
work 10 years or more they are given 2 years extra ordinary leave at a stretch.
Gratuity: The Gratuity Fund is a terminal benefit that an employee receives at the time of
retirement/resignation.
Eligibility: Regular confirmed employees who have completed at least 5 Years continuous service
are entitled to receive Gratuity Benefit.
Security Fund:
The objective of the fund is to provide predetermined monetary benefit against death and permanent
disability of regular confirmed staff to his/her Dependent/Heir/Nominee by the Bank. All Regular
Confirmed employees are eligible to avail this benefit. The fund for this benefit is created solely with
The Bank’s Contribution.
The Bank will contribute Taka 5.00/Thousand on a yearly basis against the last basic salary of each
eligible employee. (The rate of contribution may be changed subject to the approval of the board.) The
Bank maintains a liability account to manage the fund.
The total amount of benefit will be equal to 36 times of the last basic salary of the employee.
Exclusion from Employee Security Benefit:
Employees will not be eligible for the benefit, if Death or disability is caused by:
- For further injury of Employees with pre-existing degree of disablement.
- Attempted suicide or self-inflicted injury.
- Civil commotion, Assault, homicide or any war like operations
- Making an arrest as an officer of law.
- Committing a felony.
- Racing on wheels.
- Accident while the employee is affected by Alcohol/Drug.
The Board of Directors reserves the power to close fund at any time. At such event the fund shall
be refunded to the Bank.
Jamuna Bank Employee’s Provident Fund: The Jamuna Bank employees’ provident
fund requires the employer i.e. Jamuna Bank Limited to contribute to the fund 10% of basic salary
for all regular confirmed employees. Every member of this fund on retirement is provided with a
sum of money as determined by the established rules for the fund on retirement or resignation from
his or her services. A board of trustee is entrusted with the control, management and investment of
the fund.
Contribution:
As stated by the rules, each member contributes a sum equal to 10% of the basic salary each month
that is deducted by the bank at the time of payment. JAMUNA Bank Limited matches the employee’s
contribution with a monthly payment equal to 10% of the basic salary of each member. Every half
year, each member’s account is credited with interest pertinent to the income earned on the
investments from the fund. The sum of money given by the members and the amount contributed by
the bank are credited separately to his/her account in a special ledger kept by the trustee at the head
office of the bank in Dhaka.
Payment:
At the time of resignation or retirement, the employee is entitled to receive the employer’s
contribution and the accumulated interest subject to his or her length of membership in the
contributory provident fund.
If the employee has been a member for less than or equal to year then he/she will not be eligible to
receive any of the above mentioned contributions. He/she will only be able to obtain his added
contributions over the period of his membership.
If the duration of membership has been equal to or less than three years then the member will be
entitled to receive 50% of the employer’s contribution and accumulated interest.
If the duration of membership has been more than 3 years then the member will be entitled to receive
100% of the accumulated interest and employer’s contribution.
In case a member is dismissed due to negligence or incompetence, he or she will be entitled to receive
her/her own contribution along with the accrued interest thereon at the settled interest rate. The bank’s
contribution however may be forfeited and distributed among the members according to the individual
balances of the members.
The same is applicable in case of an employee dismissed from the bank due to misconduct or fraud.
However, for such purposes, only the trustees shall be the sole judge of whether the cause of dismissal
or forced retirement is significant enough or not.
Car Loan Scheme:

The car loan facility is extended to employees of or above the grade PO. The amount of loan that
these employees can take obviously varies according to their respective job grades.
Principal and Senior Principal Officers can take loan amounting to Tk.800, 000 AVP, FAVP, SAVP
can file for loan amounting to Tk.10, 00, 000
VP and SVP can file for loan extending up to Tk 14, 00,000
Car Allowances:
Employees of or above the grade of AVP are also provided with car allowances that incorporate
expenses for Fuel, Driver and Maintenance.
AVP, FAVP, SAVP can have an amount of TK.29, 000 allocated as car allowance per month. The VP
and SVP can have an amount of TK.37, 000 allocated as car allowance per month.
Staff Loan:
Staff loan is granted to regular confirmed employees of the bank. The duration of service of the
employee has to be at least a year long. The employee can apply for loan extending up to 5 times of
his/her gross salary at 10 % interest rate.
House Building loan:
Employees who have had a service length of 5 years and above are eligible to apply for house
building loan. A committee will oversee the loan application and monitor the location for house
building the debt burden ration of the employee and other relevant issues. The debt burden ratio for
the employee has to be 50% or below for the loan to be approved. The repayment schedule for the
loan has to be before the retirement of the employee. The interest rate of the loan is 3%.
Termination Benefit:
In case a confirmed employee is asked to resign from his/her services by the relevant authority
without stating any reason, he/she is eligible to receive one month’s notice in writing or one month’s
gross salary as payment. If the employee is duly notified with one month’s notice, he/she will not be
entitled to receive any form of compensation for the termination of services.
Suspension Benefit:
In the event that a report/information about misconduct or fraud is received against an employee,
he/she has to undergo stages of disciplinary proceedings. The employee is presented with charge sheet
and is given 4 days to come up with an explanation. A preliminary enquiry committee is formed and
an enquiry notice is issued that marks the beginning of a proper domestic enquiry. If, according to the
committee’s report, the employee is found guilty he is duly punished. In case the employee is found
not guilty, he/she is retained with due respect. During the period of enquiry, the employee may be
suspended and will only receive 50% of his basic salary. In case he/she is proven to be not guilty, then
the full amount of salary must be refunded to the employee.
Overview of Mutual Trust Bank

Mutual Trust Bank Limited (MTBL) is one of the leading private sector commercial banks that started
its banking operation in Dhaka on 24th October 1999. It has focused on the established and emerging
markets of Bangladesh. Concentrating hard on the activities of its area of specialization, MTBL has
been able to achieve excellent market standard with competent customer service. The bank makes
pure effort to accomplish its share in community responsibilities. By means of such measures the bank
intends to grow and increase shareholders' value. Mutual Trust Bank pledges to maximize customer
satisfaction through services and build a trusting relationship with customers, which has stood in the
test of time for the last 14 years.
The corporate head office is in Gulshan 1 Dhaka. The Bank has 86 branches, 14 SME Branches, 107
ATMs Booth all over Bangladesh. The bank has no overseas branch as on December 2011. It has one
booth which is located at Hazrat Shahjalal International Airport, Dhaka from where the customer can
exchange their money. The bank carries out international business through a Global Network of
Foreign Correspondent Banks. . The total number of employees of the bank is 1200. The management
of the bank is vested in 13-member board of directors. The managing director is its chief executive.
The bank conducts all types of commercial banking activities including foreign exchange business and
other financial services. During the first two years of operations, the bank's main focus was on the
delivery of personalized customer services and expansion of its clientele base.
Salary Strategy: Basically in Mutual Trust Bank salary strategy based on -Job requirement,
employee’s knowledge, skill and ability, employee’s performance and experience also.
Pay structure:
Managing Director Not Applicable

Senior Executive Vice President Not Applicable
Executive Vice President Not Applicable
Vice President TK 115000
Senior Assistant Vice President TK 110000
Assistant Vice President TK 96000- TK 104000
First Assistant Vice President TK 90000
Junior Assistant Vice President TK 85000
Senior Officer TK 60000
Officer/Trainee Officer TK 39000-TK42000
Junior Officer TK 30000- TK 35000
Assistant Officer TK 26000-TK 28000
Salary and benefits
□ Salary is termed “Gross Salary” divided in two parts – Basic Salary (60%) and Allowances
(House Rent - 30%, Medical allowance – 5% and conveyance Allowances – 5%) which is 40%
of Gross salary), it shall be paid to the employee at the time of salary payment.
□ Except for casual employees, every employee, every other regular employee will be
compensated for services rendered to the MTB in relation to his / her Grade / Step position.
□ Payment should be made in local currency for all national employees.
□ Salary shall be made within seven (07) working days of the following months unless any
severe case will be raised.
□ 6 days a week and 42 hours per week and standard 26 working days in a months
□ Working days (paid days) include MTB holidays and authorized leave days.
The scale of pay and other allowances of officers and employees of the bank are prescribed by the
Competent Authority from time to time. The initial pay of an employee appointed or promoted to the
higher post are ordinarily fixed at the initial stage of the scale of pay of the post to which he
promoted or appointed. President and Managing Director to Banking Officer the
Salary breaks down are Basic pay, House Rent Ceiling, Conveyance Allowance, Medical Allowance
and Entertainment Allowance. Here House Rent Ceiling is 54%, Conveyance Allowance is 26%,
Medical Allowance is 10% and Entertainment Allowance is 10% of basic salary. Tellers and Trainee
Officers are got Consolidated Salary only, because they are on provision period. Top level Officers
from President and Managing Director to First Assistant Vice President (FAVP) got extra charges like
House Maintenance, Utilities and Car Maintenance. Deputy Managing Director (DMD) and Senior
Executive Vice President (SEVP) got Electricity, Gas, Telephone and Domestic Aids also. President
and Managing Director to Executive Vice President (EVP) got direct car from the bank. From Senior
Vice President (SVP) to First Assistant Vice President (FAVP) got Car Loan facility. And President
and Managing Director to First Assistant Vice President (FAVP) got House Loan also. These loan
special for bank staff only, and the name of these loan are Staff Car Loan, Staff House Building Loan.
The bank takes only 7% interest on these loan. Group Insurance facilities will get the entire confirmed
employee. This insurance basically health insurance and will get facilities on only hospitalization. In
this insurance officers and executives will get the benefit of one spouse and two children.
37
Kinds of Terminal Benefits:
The following kinds of terminal benefits are allowable to a regular and full-time employee of the
bank. Gratuity Contributory Provident Fund Benevolent Fund
Two types benefit employee get:

 Increment
 Bonus
Annual Increment:
If employee’s service records and Annual Confidential Report (ACR) are satisfactory then the
Competent Authority sanctions the increment on the salary. The percentage of salary increment is not
fixed; it varies on Competent Authority decision. If the service records and Annual Confidential
Report (ACR) are not satisfactory of an employee then the Competent Authority put him/her on
special report for a period not exceeding six months and upon receipt of such report may sanction the
increment either from demonstration or from immediate effect or may defer it for the whole year If an
employee recognized of his/her outstanding and meritorious performance then the Board may decide
to give him/her another special increment in one year period of time.
Festival Bonus:
Regular employee will be entitled to Festival Bonuses payable on the occasion of Eidul-Azha and Eid-
ul-Fitre. The bonus amount will be the half of his/her salary.
Performance Bonus:
If the bank makes profit, the employees will be entitled to 3% of pre-tax profit as performance bonus.
Fifty percent of such bonus distributed on the basis of basic pay of an employee, and balance fifty
percent on the basis of performance of individual employees. Performance appraisal for the purpose
made on the criterion set by the management time.
38
Cash award: The Competent Authority may grand cash reward to any of its employee for
performance of a work which is occasional in character and innovative or research and
development oriented warranting special merit as to justify the payment of the same.
Rewards for Passing Banking Diploma Examination:
The employee of the who will pass Banking Diploma Part-I Examination in the first chance will get a
cash reward of TK.25, 000 and those who will pass Banking Diploma will pass Banking Diploma
Part-I Examination in the first chance securing highest mark will receive an additional cash reward of
TK. 25,000 and those who will pass Banking Diploma Part-II Examination in the first chance securing
highest mark will receive an additional cash reward of TK.50,000. The cash rewards for Banking
Diploma Part-I and Part-II Examination in one more than one setting will be TK. 10,000 and TK.
20,000 respectively.
Travel allowance and Daily Allowance:
When bank send any employee for training and call any employee for interview then the bank will
give him/her travel allowance and daily allowance. In this case the employee has to claim his/her
allowance with bus/ train/ plane tickets. Human Resource Department will verify the claim and pay
the employee.
Promotion:
The criteria for promotion to a specified post usually merit-cum-seniority. A person will be eligible
for promotion if he has the satisfactory records of service, meets the criteria for promotion, and has
clear recommendation for promotion in his/her ACR. If there is any departmental proceeding in
underway against him/her or any penalty other than censure or warning has been imposed on him/her
within the last three years then the employee will not be promoted. In terms of every promotion the
employee has to face interview board.
39
Post Eligibility for Promotion:
Officer Two years experience as Junior Officer or one year’s experience as Probationary Officer
selected through competitive test.
Leave Fare Assistant (LFA):
Leave Fare Assistant is the fifteen days leave with one month gross salary amount Payment and this
payment will not count in monthly salary. After one year of confirmation of service every employee
will get this facility for every year. For mental and physical recreation of employee Mutual Trust
Bank provides this facility and this mandatory for an employee. Leave Fare Assistant is payable to the
employees or their nominee(s) who are not in the payroll of the bank on the date of payment due to
retirement/death. With the provision that those who have completed one full year of service in the
Bank before the date of payment will receive entire amount of LFA and others not completing one full
year on the date of payment will receive LFA proportionate to his/her period of service during the
concerned year.
Leave:
Following kinds of leave allowable to employees of the bank:
Earn Leave:
On completion of period of one year of continuous service in the Bank all employees get earned leave
on full pay. The maximum amounts of such leave that may be accumulate four months.
Disability Leave:
Disability leave may be granted by the Board to an employee who is disabled by injury inflicted or
caused in accident.
40
Maternity Leave:
Maternity leave may be granted by the competent authority to an employee for a maximum three
months period at a time.
Casual Leave:
Casual leave means a leave of absence for very short period of days, granted to an employee who may
be unable to attend duty due to sudden illness or urgent private/family affairs. On completion of
period of three years of continuous service in the Bank employee may earn study leave without any
pay and allowances, for a period not exceeding two years may be granted by the Board to an
employee to enable him/her to study considered useful for his/her services under the Bank.
Overview of Premier Bank:
To light up the spirit of 21st century, The Premier Bank limited set off its voyage of success with a
motto “Service First” in 1999 to stand out from the crowd as a distinguished financial service
provider. The motto reflects the Bank’s concern for customers‟ satisfaction, flexibility,
responsiveness and productivity. Service to the Premier Bank Limited is meant not only for clients but
also for the community, not only for gain but also for governance and not only for delivery but to
ensure dynamism, discipline and accountability.
The Premier Bank Limited is incorporated in Bangladesh as banking company on June 10, 1999 under
Companies Act.1994. Bangladesh Bank, the central bank of Bangladesh, issued banking license on
June 17, 1999 under Banking Companies Act.1991. The Premier Bank Limited launched its formal
activities of banking business on 26 October, 1999 with an Authorized Capital of BDT 6000.00
Million and Paid up Capital of BDT 2242.30 Million. The Head Office of the Premier Bank Limited is
located at Banani, one of the fast growing commercial and business areas of Dhaka city. The Board of
the Premier Bank Limited consists of 14 directors and Dr. H.B.M Iqbal is the honorable Chairman of
the Board.The members of the Board of Directors of the Bank hold very respectable positions in the
society. They are from highly successful group of business and industries in Bangladesh. Out of 14
members one is from Taiwan. Each member of the Board of director plays a significant role in the
socio-economic domain of the country.
Compensation, Pay and Benefit: It differs based on their designation, performance and experience.
Also performance Evaluation reflects skills & job responsibilities of employees.
41
Pay structure:
Managing Director Not Applicable

Deputy Managing Director Not Applicable
Senior Executive Vice President TK 137000
Senior Vice President TK 126000
Vice President TK 102000
First Vice President TK 85000
Assistance Vice President TK 77000
First Assistance Vice President TK 65000
Senior Executive Officer TK 52000
Executive Officer TK 47000
Senior Officer TK 39800
Management Trainee Officer TK 32000
Officer TK 25000
Junior Officer TK 22000
Trainee Junior Officer TK 19200
42
COMPENSATION SYSTEM
DIRECTSCOMPENSATION:
 Disability income continuation
 Deferred Income:
From Salary: 10%
from Bank: 10 %
Total Savings for future : 20%
 Health, Accident, Liability protection

 Pay for time, not worked.
o 15 days : Compulsory/Refreshment leave
o 10 days : Casual leave.
o 15 days : Cornet leaves.
o 15 days : Sick leave
o 1 month : Earn leave after 1 year
o Gratuity Income : Work in the Bank
INDIRECT COMPENSATION:
1. Promote constructive social relationship with co-workers:
Employees’ get together: Picnic
2. Enhance dignity & satisfaction from work perform:
PBL encourage employee for their good performance.
3. Allocate sufficient resources to perform work assignment: PBL provide sufficient resource,
available modern technology, and internet support, online support to the employees to do their
work effectively & fast.
43
4. Offer supportive leadership & Management:
PBL give employee more authority which makes employee responsible. It also increases the
employees’ commitment to their work.
5. Ensure employees physiological health, intellectual growth and emotional maturity. They
provide a safe working environment. They also gave employees training for their development.
6. In PBL employees have sufficient control over the job to meet personal demands. The
Bank gives more freedom and autonomy to its employees
COMPENSATION ACCORDING TO PERFORMANCE

APPRAISAL:
Based on Performance Appraisal the compensation / increment of the employees are selected.
PBL gives increment, promotion and other facilities to the employees whose are in better
position according to Performance Appraisal. Again they give demotion to the employees who
are below standard according to Performance Appraisal. If employees have lack of knowledge or
something, then a training program is arranged.
Sometimes better performance employees are awarded by Promotion. Promotion is given after 2
years. The Promotion of the higher executives is maintained by the Promotion Committee Board
but the promotion of the lower executives is maintained by the Branch Management Committee.
Generally promotion of the employees depends on the result of the Performance Appraisal and
high recommendation. Comparing to the standards set PBL has already issued more
compensation program as well as employee benefit programs. PBL should focus on the
employee facilities and Human Resource Policies of their competitors and step by step develop
their Human Resource Policy which will help to develop their manpower skilled as well as
productive. PBL should give emphasis not only in giving the better compensation packages to
their employees but also create a better working environment for the employees.
44
Results and Discussion:
If we compare these three banks we can find some same facilities all banks have or some facilities
extra all banks do not have. Every bank has their own management system and employee get
convenience according their job and designation. The factors are- basic salary range, benefits provided
incentives, performance evaluation system, increment given system and other motivational factors.
The objective of this section is to compare the system of Jamuna Bank, Mutual Trust Bank, Premier
Bank.
The comparisons are as follows:

Basic Salary Range:
Jamuna Bank Mutual Trust Bank Premier Bank
The Basic starts with The Basic starts with The Basic starts with Trainee
Assistant Officer to Officer Assistant Officer to Senior Junior Officer to Senior
and their salaries ranges is TK Officer salaries range is TK Officer salaries range is TK
20000- TK 35000. TK 55000- 26000 –TK 60000. Also, 19200- TK 39800.TK 47000
TK 80000 for First Executive Junior Assistant Vice –TK 52000 for Executive
Officer to Senior Executive President to Vice President Officer to Senior Executive
Officer. And Also, First salaries range is TK 85000 – Officer. Also, First Assistance
Assistant to Vice President TK 115000 Vice President to Vice
salaries range is TK 85000 – President salaries range is TK
TK 180000 65000 –TK 102000
45
Benefits:
Jamuna Bank Mutual Trust Bank Premier Banefit

All regular and confirmed Their gross salary divided in All regular and confirmed
employees get two bonuses two parts – Basic Salary (60%) employees get two bonuses
each year. Car allowances are and allowances (House Rent - each year. From their salary
only for the grades above 30%, Medical allowance 5% their bank cut extra 20% for
Assistant Vice President. In and Conveyance allowances – future benefit. Every year they
Case a confirmed employee is 5%) which 40% from their Have a picnic for
asked to resign from his/her salary. Top level Officers from refreshmentfrom their work.
services by the relevant President and Managing Based on Performance
authority without stating any Director to (FAVP) got extra Appraisal the compensation of
reason; he/she is eligible to charges like House the employees is selected. PBL
receive one month’s notice in Maintenance, Utilities and Car gives increment, promotion and
writing or one month’s gross Maintenance. (DMD) and other facilities to the employees
salary as payment. If the (SEVP) got Electricity, Gas, whose are in better position
employee suspended without Telephone and Domestic Aids according to Performance
reason he or she will be also. President and Managing Appraisal. Car allowances are
received 50% gross salary Director to (EVP) got direct only for the grades above
benefit. If bank send any car from the bank. Terminal Assistant Vice President. If
employee for training and call benefits are allowable to a bank send any employee for
any employee for interview regular and full- time employee training and call any employee
then the bank will give him/her of the bank. Regular employee for work then the bank will
travel allowance and daily will be entitled to Festival give him/her travel allowance
allowance. If someone goes Bonuses payable on the and daily allowance.
outside of office and there is no occasion of Eidul- Azha and
chance of coming back within Eid-ul-Fitre. The bonus amount
that month he/she will be given will be the half of his/her
advance payment salary. salary. The employee who will
pass Banking Diploma Part-I
46
Examination in the first
chance will get cash reward of
TK.25, 000. Those who will
pass banking Diploma Part-II
Examination in the first chance
securing highest mark Will
receive an additional cash
reward of TK.50, 000. The
cash rewards for Banking
Diploma Part-I and Part-II
Examination in one more than
one setting will be TK. 10,000
and TK. 20,000 respectively.
When bank send any employee
for training and call any
employee for interview then
the bank will give him/her
travel allowance and daily
allowance. The competent
Authority may grand cash
reward for performance of a
work which is occasional in
character and innovative or
research and development.
47
Increment system:

All confirmed staffs get If employee’s service records PBL gives increment,
increment each and every year and Annual Confidential promotion and other facilities
based on their level. Report (ACR) are to the employees whose are in
Satisfactory then the better position according to
Competent Authority sanctions Performance Appraisal
the increment on the salary.
The percentage of salary
increment is not fixed; it varies
on competent Authority
decision
Provident Fund:

Jamuna Bank Limited to MTB also contribute to the Premier Bank contributes to
contribute to the fund 10% of fund 10% of basic salary for the fund 10% of basic salary
basic salary for all regular all regular confirmed for all regular confirmed
confirmed employees employees employees.
Gratuity system:

Regular confirmed employees Confirmed employees who It depends on how many year
who have completed at least 5 have completed their 3-4 they are working then they
Years continuous service are Years continuous service are decide about gratuity benefit.
entitled to receive Gratuity entitled to receive Gratuity
Benefit Benefit
Promotion:

In every promotion they have Every promotion the Sometimes better performance
to give an examination. After employee has to face employees are awarded by
pass the examination they will interview board. A person will Promotion. Promotion is given
have to face interview then be eligible for promotion if he after 2 years. The Promotion
they will get promotion. has the satisfactory records of of the higher executives is
service, meets the criteria for maintained by the Promotion
promotion. In terms of every Committee Board but the
promotion the employee has to promotion of the lower
face interview board. Officer executives is maintained by
Two years experience as the Branch Management
Junior Officer or one year’s Committee. Generally
experience as Probationary promotion of the employees
Officer selected through depends on the result of the
competitive test Performance Appraisal and
high recommendation.
Loan facility:

The car loan facility is From Senior Vice President Staff loan is granted to regular
extended to employees of or (SVP) to First Assistant Vice confirmed employees of the
above the grade PO. The President (FAVP) got Car bank. The duration of
amount of loan that these Loan facility. And President service
of the employee has to be at
Employees can take obviously And Managing Director to Least a year long of his/her
varies according to their First Assistant Vice President gross salary at 10 % interest
respective job grades. (FAVP) got House Loan also. rate. From Senior Vice
Principal and Senior Principal These loan special for bank President (SVP) to First
Officers can take loan staff only, and the name of Assistant Vice President
amounting to Tk.800, 000 these loan are Staff Car Loan, (FAVP) got Car Loan facility
AVP, FAVP, SAVP can file Staff House Building Loan. and President and Managing
for loan amounting to Tk.10, The bank takes only 7% Director to First Assistant
00, 000 VP and SVP can file interest on these loan. Group Vice President (FAVP) got
for loan extending up to Tk14, Insurance facilities will get the House Loan also. They take
00,000. Staff loan is granted to entire confirmed employee. 7% to 10% loan interest
regular confirmed employees This insurance basically health according their Grade.
of the bank. The duration of insurance and will get
service of the employee has to facilities on only
be at least a year long. The hospitalization. In this
employee can apply for loan insurance officers and
extending up to 5 times of executives will get the benefit
his/her gross salary at 10 % of one spouse and two
interest rate. Employees who children.
have had a service length of 5
years and above are eligible to
apply for house building loan
and the interest rate is 5%.
Leave:

Two holidays (Friday & Two holidays (Friday & Two holidays (Friday &
Saturday) per week for the Saturday) per week for the Saturday) per week for the
employees of JBL. 14 days employees of MTB. One year employees of PBL. One year
sick leave with pay is of continuous service in the of continuous service in the
provided to the staffs of JBL Bank all employees get earned Bank all employees get leave
each and every year. leave on full pay. Disability on full pay 15 days For
JAMUNA provides 6 months leave may be granted by the Compulsory/Refreshment
with pay maternity leave to its Board to an employee who is leave and 10 days for Casual
female staffs. Extra 6 months disabled by injury inflicted or leave. Also, 15 days Cornet
non paid maternity leave is caused in accident. Maternity leave and 15 days for Sick
also given to the staffs of JBL. leave may be granted by the leave. They get 1 month
7 days paternity leave is given competent authority to an Earn leave after 1 year.
to the all confirmed staffs of employee for a maximum Maternity leave may be
JBL at a stretch. Every three months period at a time. granted by the competent
employee can take this leave Casual leave means a leave of authority to an employee for
due to accident in work place, absence for very short period A maximum six months
in case of hospitalized because of days, granted to period at a time.
of accident or surgery issues. an employee who may be
JBL gives 21 days with pay unable to attend duty due to
accidental leave. Those who sudden illness or urgent
work five days in a week they private/family affairs. If an
get 5 days compulsory leave employee to enable him/her
in a year at a stretch. to study considered useful for
his/her services under the
Bank he/she may grant for
casual leave
Major Findings & Of the Study
From the findings of the previous chapter I have tried to find out the heart of the study and The
necessary steps are recommended below:
1. Salary is the primary and most important factor for satisfaction. It should be high enough to
maintain the living standard of employees. The authority should consider that salary structure and
benefits should be reasonable and comparable with that of other banks and /or other similar
institutions.
2. All the superiors at each level should be cordial and friendly to their subordinates.
3. Jamuna Bank Ltd. should ensure the overall job security to the employee by a contract sign.
4. Jamuna Bank Ltd. should give more attention to personal accomplishment and recognition of the
employee to increase the level of job satisfaction.
5. Jamuna Bank Ltd. can give attention to the office decoration so that employee can stay with
comfort and relax to work there as a place.
6. Managers should concern about the facility and demand of junior level of employees rather than
selective officers by removing biasness.
7. Management assures their employees that they have rights to take their decisions related their work
areas independently and can choose their own method of working.
8. The scope of promotion should be increased otherwise turnover rate will be increased.
9. They should also arrange award ceremonies to find out the most talented, honest, sincere person in
the institution and appreciate him or her for his outstanding performances.
10. The compensation should increase so that they can match with their responsibility.
11. Since they don’t pay proper compensation they should facilitate benefits so that fewer
compensation is a least bother to employees.
12. Supervisor should provide a clear feedback to all.
13. Job description should be redesigned so that the employees get the opportunity to apply their
talents and expertise.
14. The bank should have a transparent standing policy for promotion of employees so that an officer
not getting promotion can clearly understand the causes behind it and may devote him to be fit for
41
promotion. So that they can improve their working standard with a competitive attitude to make
themselves fit for the future promotion.
15. The study determined six areas of job satisfaction of Jamuna Bank Ltd. officers. They are:
supervision, rewards, operating procedure, co-workers, nature of work and communication system.
The bank authority should be careful to maintain this trend, so that the level of job satisfaction can
prevail in the minds of officers.
16. The job should be interesting enough, so that it must create enthusiasm among the employees.
17. Sharing of information among different divisions within the organization should be possible; so
that the employees feel belongingness.
18. There should be provision for different kind of rewards for better performance. It will encourage
them to take responsibility and also will improve their willingness to perform better.
19. Training and development program must be provided to the employees at regular intervals to
update their knowledge and skills.
20. Management should be indentify the weak employees and provide them proper training to develop
their skills.
21. Principal branch is a big branch, but these large numbers of people are operated without any
modern HR operation. So that I recommend at least one HR employee should include in the branch.
22. The Janata Bank Ltd. engaged in employment of young, energetic and experienced employees.
Most of the employee has more than ten year experience. It indicates The JBL has high rate of
turnover.
23. Physical working environment of this organization is good as a major portion of employees are
satisfied with it.
24. Employees are not satisfied with the top management because of communication gap and weak
interpersonal relationship.
25. Employees are satisfied with their co-workers as every employee behaves friendly with each
other.
26. Most of the employees are satisfied with their subordinates as they are helpful and cooperative
but others are dissatisfied.
27. The organization is following a good policy and practice.
28. Satisfaction level of the employees regarding nature of job is high.
29. Employees have positive view towards the work assigned to them.
42
30. They provide training facility for their employees to improve their skills and efficiency.
31. Motivating factors applied by the Bank is not good.
32. In the Jamuna Bank Ltd. they have limited career development program for their employees.
33. Most of the employees are satisfied regarding their salary.
34. The overall job satisfaction of the organization is good.
Recommendations & Conclusion:

Recommendation:
The study finds that every employee wants to see his or her place in good condition. But the good
condition of his or her largely depends on his or her harmonious relation with the bank. So, it can be
suggested that the banks policies should be made to give equal opportunities for all staffs. It is
realized that financial security from the job really motivates the staff to be more professional and
dedicated to their service. With the practical exposure in Jamuna Bank Ltd. for just twelve weeks,
with little experience in the bank in comparison with vast and complex banking system; it is not so
easy to recommend some suggestion to enhance the performance level of the organization. In spite of
that, some probable solutions were found of the identified problems on the basis of collected data,
observation, expert staff opinion and own knowledge and judgments.
In order to get competitive advantage and to deliver quality service, top level management should try
to modify the service. As an internee of JBL, Banani branch, I have some recommendations which are
given below:
□ JBL need to necessary changes in import policy to permit imports to be made without LC to
reduce import cost and subsequently reduce prices on essential and consumable goods.
□ Foreign exchange operations of other banks are more dynamic and less time consuming. JBL
should take some initiative to compete with those banks.
□ The faster Internet recording procedures and documents of import keeping process of in this
department must be improved through sequential effort system and for all type recording of
this department should be computerized.
43
□ To arrange more employee in the Import Section for reducing the pressure.
□ Employees should be more expert and trained to use the Flora software (According to the
statement of some employee of JBL who has the experience to use more than on banking
software).
□ JBL has to ensure the good networking system between the employees should use at Service
for SWIFT communication.
□ JBL must train up for writing import documents to develop electronic banking system to
moderate the service.
□ Branch has to ensure at least one IT exporter. JBL should train up their branch personnel about
all sort of information regarding SWIFT and its services.
□ JBL should always monitor the performance of its competitors in the field of foreign trade.
□ Customer service should be faster than others banks. For customers convenience in foreign
exchange department of JBL should provide more personnel to deliver faster services to their
honorable customer.
□ JBL should focus on their promotional activities.
□ They should focus on the marketing aspects to let customers know about their products and
offerings and more promotion should be given to attract new customers.
□ Due to lack of proper knowledge about the operation procedures and services provided to the
customers by SWIFT. Some customers are facing problem, as they have to wait for certain line
to get the service and sometimes personnel are not being able to operate SWIFT. They are not
fully independent of handling SWIFT. Official training is the solution to this problem.
□ Mercantile bank ltd. Primer Bank ltd. Eastern bank ltd, First Security bank ltd, Mutual trust
bank ltd. Dhaka bank ltd. etc. banks are emerging competitions of Jamuna Bank Ltd. So,
JBL should introduce good service and other qualitative product for that reason they can
overcome all other their rivals.
□ In terms of import and export they have to increase their work efficiency.
□ For maintaining foreign exchange risk management, related verity of training should be
provided to Jamuna bank employees.
□ JBL Bank try to build up quality man power having skilled and professional expertise by
established its own Training institute at Head office.
44
To ensure high job satisfaction among their employees some strategic steps have to be adopted such
as:
 Identify root causes of dissatisfaction among employees
 Conduct benchmark studies of best practices in selected other banks
 Develop employee satisfaction measurement systems that can be used corporate wide
 Monitor employee satisfaction on regular basis
 Treat employees as the primary source to attain competitive advantage
 Show concern for total employee well-being
 Develop meaningful employee involvement and effective communication channels
 Introduce managerial accountability for people management
Given the impact of employee satisfaction on organizational profit, it is critical for organizations to
understand what dimensions of satisfaction need to be monitored and used to develop accountability,
employee satisfaction awareness, and employee oriented work behavior. In this regard, the suggestion
may be the following dimensions:
 Accessibility
 Communication
 Competence
 Courtesy
 Credibility
 Reliability
 Promotion
45
 Bonus
 Responsiveness
 Reword
 insurance
 Security
 Tangibles
 Understanding of the employee
Conclusion:
Compensation and benefits are significant area of human resource management, and also it can greatly
affect employee behavior. To be effective, compensation must be perceived motivate the employee to
work properly in the organization. The outcome of job evaluation is the development of an internal
structure or hierarchical ranking of jobs. In this case, it is tried to identify the basic differences of the
compensation strategies between Jamuna Bank and the other two banks. If we compare then we found
that their some motivational factor of Jamuna Bank that encourage to do the work and also some
lacking. Mutual Trust Bank some areas are more attractive than Jamuna Bank. On the other hand,
Premier Bank does not get more facilities compare to others. It depends on Human Resource
Department where they decide how to satisfy their employees. There are also motivational factors
needed for the career development of the employees that they can give best performances to the bank.
46
References:
https://prezi.com/g5jo_tvkyd6q/jamuna-bank-limited/
http://www.slideshare.net/sukeshgowda/project-report-on-compensation-and-benefits
http://www.assignmentpoint.com/business/human-resource-management/compensation- management-
employee-satisfaction-exim-bank.html
http://www.assignmentpoint.com/business/organizational-behavior/internship-report-compensation-
benefits-package-aci.html
http://www.slideshare.net/MdSamiulIslam1/total-banking-system-of-jamuna-bank-limited
http://www.assignmentpoint.com/business/internship-report-on-human-resource-management-
practices-of-the-premier-bank-ltd.html
http://www.assignmentpoint.com/business/management/project-report-on-human-resource-
management-at-premier bank.html
https://www.scribd.com/document/184470737/0820544EMPLOYEES-JOB-SATISFACTI
http://www.assignmentpoint.com/business/human-resource-management/human-resource-
management-at-premier-bank.html
http://www.assignmentpoint.com/business/management/project-report-on-human-resource-
management-at-premier-bank.html
Appendix
CERTIFICATE FROM BANK

ACRONYMS:
BBA Bachelor of Business Administration
M(SME)KB Munshiganj Small to medium enterprise Krishi Branch
HRM Human Resource Management
HR Human Resource
HRD Human Resource Development
JBL Jamuna Bank Limited
FAGM First Assistant General Manager
ATM Automatic Teller Machine
BADC Bangladesh Agricultural Development Corporation
DD Demand Draft
EBS Electronic Banking System
ICT Information Communication Technology
ITIL Infinity Technology International Limited.
MIS (Management Information Systems)
MT Mail Transfer
PIN Personal Identification Number
POS Point Of Sales
RMS Remittance Management System
TBC Total Branch Computerization
TIN Tax Identification Number
TT Telegraphic Transfer
VAT Value Added Tax

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Employee job satisfaction with compensation of

Department Of business Administration

Notre Dame University of Bangladesh

Imam Hossain Mishor

Double Major in HRM & Accounting

Department Of business Administration

Notre Dame University of Bangladesh

Date of submission: 10th april 2020

Notre Dame University Of Bangladesh, Dhaka.

Subject: Submission of Internship Report on “Employee Job Satisfaction with compensation of

Imam Hossain Mishor

BBA, Internship Semester

Notre Dame University Of Bangladesh

Faculty of Business Studies

Notre Dame University of Bangladesh

Md. Imam Hossain Mishor

Department Of Business Administration

Notre Dame University Of Bangladesh

 Specific Responsibilities of the  Pg no – (8-9)

 Different aspect of job  Pg no – (9- 10 )

03. Description of the Project  Pg no – 12

 Objective of the Project  Pg no – (12- 13)

 Methodology  Pg no - (13 -14 )

 Methods of Collection: Data  Pg no – (14 -15)

Main body of the Project  Pg no – 17

 Organizational Practice  Pg no – ( 17 – 25)

Finding and Analysis  Pg no – 26

 Questionnaire On  Pg no – (26 -32)

 Measurement the Level of Job

 Compensation, pay and benefit

 Overview of Mutual Trust Bank  Pg no – (34- 36 )

 Compensation, pay and benefit

 The Comparison of Jamuna

 Mejor Findings Of The Study  Pg no - 45

 Recommendation & Conclusion  Pg no - 45

ORGANIZATION OF THE REPORT:

Product/ service offerings: JBL is a highly capitalized new generation bank

2. To stand out as a pioneer banking institution in Bangladesh

3. To contribute significantly to the national economy

2. High quality financial services with the help of latest technology.

3. Deep commitment to the society and the growth of national economy

5. Balanced growth strategy, steady return on shareholder’s equity.

 To earn and maintain CAMEL Rating ‘Strong’

1. Computer posting of transactions

2. Sorting of cheque according to serial number

3. Maintaining different registers

4. Filing different L/C related documents

6. Filling up EXP and IMP forms

7. Editing of L/C issue statement

8. Endorsement of different papers

number to those slips

Different aspects of job performance: Within three months I have

3. Lack of skillful manpower in import section

1. To identify the compensation structure of Jamuna Bank.

Mutual trust Bank, Premier bank.

Primary data sources:

 Interview with the HR (Human Resource) personnel

Methods of Data Collection:

Sample Size: There are 31 respondents.

Data Analysis Technique: MS Excel was used for data analysis.

_ Minnesota satisfaction questionnaire and

The Minnesota Satisfaction Questionnaire is a paper-pencil type of a questionnaire and can be