The settlement also includes an independent review of Mastercard’s hiring and promotion policies, and the company will share any resulting recommendations with the plaintiffs’ legal team. The plaintiffs’ attorneys at Outten & Golden LLP are seeking $8.7 million in fees.
In their lawsuit, the plaintiffs accused Mastercard of maintaining compensation and promotion policies that disproportionately underpaid female, Black, and Hispanic employees. They argued that these employees were often hired into lower-level positions compared to their male and white counterparts, resulting in lower pay for similar work. In 2023, they claimed, the median pay for Black and Hispanic employees at Mastercard was 94.3% of that for white employees, while female employees made 96.4% of their male counterparts’ pay.
Mastercard spokesperson Seth Eisen said the company was committed to continuing to support its employees and believed it was in the best interest of all parties to settle the case. He emphasized that the settlement would allow the company to focus on maintaining a workplace where all employees feel valued and respected.
