Citigroup CEO Michael Corbat's 2020 pay slips 10% to $23M
Citigroup reports 2020 executive compensation
By ExecPay News
Published: March 17, 2021
Citigroup reported fiscal year 2020 executive compensation information on March 17, 2021.
In 2020, five Citigroup executives received on average a compensation package of $16M, a 19% increase compared to previous year.
Average pay of disclosed executives at Citigroup
Michael Corbat, Chief Executive Officer, received $23M in total, which decreased by 10% compared to 2019. 70% of Corbat's compensation, or $16M, was in stock awards. Corbat also received $5.3M in bonus, $3.9K of change in pension value and nonqualified deferred compensation earnings, $1.5M in salary, as well as $17K in other compensation.
For fiscal year 2020, the median employee pay was $54,718 at Citigroup. Therefore, the ratio of Michael Corbat's pay to the median employee pay was 420 to one.
Paco Ybarra, Chief Executive Officer, received a compensation package of $18M, which increased by 29% compared to previous year. 47% of the compensation package, or $8.4M, was in salary.
Jane Fraser, Chief Executive Officer, earned $17M in 2020, a 3% decrease compared to previous year.
Mark Mason, Chief Financial Officer, received $12M in 2020, which increases by 57% compared to 2019.
Michael Whitaker, Head of Infrastructure, Operations and Technology, earned $9.4M in 2020.
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Source: SEC filing on March 17, 2021.