MasterCard CEO made $11.3M in 2012, up 35 percent

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NEW YORK (AP) — An Associated Press analysis of a regulatory filing shows MasterCard Inc. boosted CEO Ajay Banga's pay package last year by 35 percent to $11.3 million.

The higher pay came in a year when the Purchase, N.Y., credit card company earned $2.8 billion, up 45 percent from a year earlier, on higher processing fees and a continued expansion in operations overseas.

The CEO's compensation was disclosed in an annual proxy filing with the Securities and Exchange Commission on Thursday.

The AP's calculation counts salary, bonuses, perks and stock and options awarded to the executive during the year.

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