Ajay Banga is the former President and CEO of Mastercard, where he played a central role in its growth. Under his leadership, the company transformed into a leader in digital payments, processing over $9 trillion in volume in 2023 alone....

Number of Employees

33.4K

Year

2020

Total Compensation

$32.50M

Salary

$1.25M

Board Justification

The compensation philosophy is designed to align executive compensation with performance, attract and retain top talent, and ensure that a significant portion of compensation is performance-based.

Bonus

$3.13M

Board Justification

The annual incentive bonus for 2020 was capped at 100% of target due to the impact of COVID-19 on financial performance, resulting in a payout of $3,125,000.

Other

$210.33K

Board Justification

Other compensation includes perquisites and company contributions to defined contribution plans.

Restricted Stock

$27.92M(99.61K RSU)

Board Justification

The value of stock awards that vested in 2020 includes 99,010 shares of RSUs and PSUs, which were settled based on the average of the high and low market price per share of Class A common stock on the NYSE on the respective vesting date.

Performance Metrics

The performance metrics for determining the CEO's compensation included adjusted net income and adjusted net revenue, with adjustments made for the impact of COVID-19.

SEC Filing

From April 29, 2021

Ajay Banga

Ex-CEO of Mastercard

AB

Education

MBA from the Wharton School of the University of Pennsylvania; Bachelor's degree in Economics from St. Stephen's College, Delhi

Field of Expertise

Business & Management

Born

November 10, 1959 - 65 years ago

Is Founder?

No

Tenure

10 years 5 months (Jul 2010 - Dec 2020)

Previous Experience

President & Chief Operating Officer at Mastercard