Credit Card CEOs Don’t Have to Worry About Personal Debt

Credit Card CEOs Don’t Have to Worry About Personal Debt

Being the CEO of a credit card issuer or processor pays well. Very well.

MasterCard CEO Ajay Banga's pay package last year totaled $11.3 million, an increase of 35 percent over his 2011 compensation of $8.3 million, according to the Associated Press. Most of this increase came in the form of stock awards, including stock options, valued at $7.5 million. These options were 52 percent higher than his 2011 package. His salary "only" increased 9 percent to $983,333. Banga also received a performance-based cash bonus of $2.5 million and perks totaling $348,000.

This increase came after a good year when the credit card company earned $2.8 billion, up 45 percent from a year earlier.

Capital One paid Chief Executive Officer Richard Fairbank approximately $17.5 million in compensation for 2012. The payment package included $10.9 million in stock, $4.38 million in options, and $2.19 million in a cash bonus. Securities regulators calculate pay differently and report that Fairbank earned $22.6 million: $16 million in stock awards, $4.4 million in option awards and $2.2 million in the form of a deferred cash bonus. The $22.6 million package would be a 21 percent increase over his 2011 package of $18.7 million.

Visa's new Chief Executive Officer, Charles Scharf, will receive $950,000 per year in salary as well as $19 million in restricted stock and stock options. Joseph Saunders, the former CEO of Visa, received a $9.7 million pay package for the 2012 fiscal year when he retired in November 2012. He received $11.8 million in compensation for fiscal year 2011.


This entry was posted in Credit Card News and tagged , , , , , , , , by Natalie Rutledge. Bookmark the permalink.
The information contained within this article was accurate as of April 30, 2013. For up-to-date information on any of the terms, cards or offers mentioned above, visit the issuer's website.
Editorial Disclosure
LowCards.com is an independent, for-profit web site. LowCards.com participates in the Affiliate Network, and receives compensation from most of the credit card issuers whose offers appear on the site. This compensation helps support our website and enables us to write insightful articles to help you manage your credit card accounts. This compensation, as well as the likelihood of applicants’ credit approval and our own proprietary website guidelines, may impact how and where the cards appear on our site.

LowCards.com does not include all credit card companies or every available credit card offer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. Every reasonable effort has been made to maintain accurate information, however credit card offers change frequently. After you click on an offer you will be directed to the credit card issuer’s secure web site where you can review the terms and conditions for your offer.

About Natalie Rutledge

Natalie Rutledge majored in Communications at Mississippi State University. She was in sales for a number of businesses and spent nine years working as a communications advisor to various entities. Natalie can be contacted directly at [email protected]