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ExlService Holdings Executive Compensation (FY25)

EXLS · New York, NY · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
Rohit Kapoor
Latest say-on-pay support
=
June 16, 2026
Chief executive pay ratio
◇
To the median employee
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Data as of November 1, 2026Latest filing (8-K): June 16, 2026
15 filings cited on this page
A report that fails to generate is refunded in full
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357 figures on this page: 347 cited to the filing that reported them, 10 calculated from figures it prints. See the citations
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Rohit Kapoor: $14,166,996 → $16,201,761 (14.4% higher)
Say-on-pay support: 96.0% → 95.4% (0.6 points lower)
CEO pay ratio: 1,301:1 → 1,292:1 (0.7% lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is ExlService Holdings' chief executive and what were they paid?
Total compensation for Rohit Kapoor, Chairman and CEO, came to $16,201,761 in fiscal 2025. Compared with the $14,166,996 reported for fiscal 2024, Kapoor's total was 14.4% higher.
What was ExlService Holdings' say-on-pay result?
The say-on-pay proposal drew 95.4% of votes cast for or against in favor at the meeting held June 16, 2026 for fiscal 2025.
Which companies are in ExlService Holdings' peer group?
The disclosed peer group names Dun & Bradstreet, EPAM Systems, Inc., Fair Isaac Corporation, Genpact Limited and Guidewire Software, Inc., among others.
What is ExlService Holdings' chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 1,292:1, against median employee compensation of $12,542.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Rohit Kapoor
Vice Chairman & CEO
◇—◇—◇—◇◇
Maurizio Nicolelli
Executive Vice President and CFO
◇—◇—◇—◇◇
Vivek Jetley
Executive Vice President and Business Head, Analytics
◇—◇—◇—◇◇
Vikas Bhalla
Executive Vice President and Business Head, Insurance
◇—◇—◇◇◇◇
Ankor Rai
Executive Vice President and Chief Digital Officer
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Rohit Kapoor
Chair & CEO
◇—◇—◇—◇◇
Vivek Jetley
President of EXL and Business Head, Analytics
◇—◇◇◇—◇◇
Vikas Bhalla
President of EXL and Business Head, Insurance
◇—◇◇◇◇◇◇
Maurizio Nicolelli
Executive Vice President and CFO
◇—◇◇◇—◇◇
Anita Mahon
Executive Vice President and Global Head, Healthcare
◇—◇◇◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Rohit Kapoor
Chairman & CEO
◇—◇—◇—◇◇
Vivek Jetley
President and Head of Insurance, Healthcare and Life Sciences
◇—◇—◇—◇◇
Vikas Bhalla
President and Head of AI Services and Operations
◇—◇—◇◇◇◇
Vishal Chhibbar
Executive Vice President, International Growth Markets and Chief Growth Officer
◇◇◇—◇—◇◇
Maurizio Nicolelli
Executive Vice President and CFO
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Rohit Kapoor
Chairman and CEO
◇—◇—◇—◇◇
Vivek Jetley
President and Head of Insurance, Healthcare and Life Sciences
◇—◇—◇—◇◇
Vikas Bhalla
President and Head of AI Services and Operations
◇—◇—◇◇◇◇
Maurizio Nicolelli
Executive Vice President and Chief Financial Officer
◇—◇—◇—◇◇
Narasimha Kini
Executive Vice President, Banking & Capital Markets and Diversified Industries
◇—◇—◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Maurizio NicolelliPSU◇◇◇—◇—◇
Maurizio NicolelliRSU◇——◇——◇
Maurizio NicolelliPSU◇◇◇—◇—◇
Narasimha KiniPSU◇◇◇—◇—◇
Narasimha KiniRSU◇——◇——◇
Narasimha KiniPSU◇◇◇—◇—◇
Rohit KapoorPSU◇◇◇—◇—◇
Rohit KapoorPSU◇◇◇—◇—◇
Rohit KapoorRSU◇——◇——◇
Vikas BhallaPSU◇◇◇—◇—◇
Vikas BhallaRSU◇——◇——◇
Vikas BhallaPSU◇◇◇—◇—◇
Vivek JetleyRSU◇——◇——◇
Vivek JetleyPSU◇◇◇—◇—◇
Vivek JetleyPSU◇◇◇—◇—◇
Fiscal 2022, 2023, 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Rohit KapoorRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Vivek JetleyOption◇—◇6/21/2033
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Vikas BhallaOption◇—◇6/21/2033
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Narasimha KiniOption◇—◇6/21/2033
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Maurizio NicolelliOption◇—◇6/21/2033
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.
Maurizio Nicolelli
Executive Vice President and Chief Financial Officer · Employment agreement
Severance base◇
Change-in-control base◇
Non-compete period◇
Non-solicit period◇
Narasimha Kini
Executive Vice President, Banking & Capital Markets and Diversified Industries · Employment agreement
Severance base◇
Change-in-control base◇
Non-compete period◇
Non-solicit period◇
Rohit Kapoor
Chairman and CEO · Employment agreement
Severance base◇
Change-in-control base◇
Non-compete period◇
Non-solicit period◇
Vikas Bhalla
President and Head of AI Services and Operations · Employment agreement
Severance base◇
Change-in-control base◇
Non-compete period◇
Non-solicit period◇
Vivek Jetley
President and Head of Insurance, Healthcare and Life Sciences · Employment agreement
Severance base◇
Change-in-control base◇
Non-compete period◇
Non-solicit period◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Vikram Pandit
Lead independent director
◇◇————◇
Kristy Pipes
◇◇————◇
Andreas Fibig
◇◇————◇
Thomas Bartlett
◇◇————◇
Nitin Sahney
◇◇————◇
Sarah K. Williamson
◇◇————◇
Pat Geraghty
◇◇————◇
Jaynie Studenmund
◇————◇◇
Rohit Kapoor served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Board chair premium◇
Lead independent director premium◇
Audit committee chair◇
Compensation committee chair◇
Nominating and governance chair◇
Equity is delivered as restricted stock units.
Stock ownership guideline: Robust director stock ownership guidelines

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Dun & Bradstreet DNB
  • EPAM Systems, Inc. EPAM
  • Fair Isaac Corporation FICO
  • Genpact Limited G
  • Guidewire Software, Inc. GWRE
  • Informatica Inc. INFA
  • Perficient, Inc. PRFT
  • Snowflake SNOW
  • Teradata Corporation TDC
  • Thoughtworks symbol not shown
  • Thoughtworks Holding, Inc. TWKS
  • TTEC Holdings, Inc. TTEC
  • UiPath Inc. PATH
  • Verisk Analytics, Inc. VRSK
  • WNS (Holdings) Limited WNS

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025June 16, 2026=◇◇◇
2024June 17, 2025=◇◇◇
2023June 20, 2024=◇◇◇
2022June 20, 2023=◇◇◇
2021June 21, 2022=◇◇◇
2020June 16, 2021=◇◇◇
2019June 15, 2020=◇◇◇
2018June 17, 2019=◇◇◇
2017June 15, 2018=◇◇◇
2016June 22, 2017=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇

Ask our research desk — $99, 24h, every figure cited to its filing.

Sample answer — “What is the CEO’s total compensation?”
- Rohit Kapoor (Chairman and CEO), FY2025 total compensation $16,201,761 (base salary $885,205) [exec_comp, SEC accession 0001193125-26-181891, filed 2026-04-27]

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What this page does not include

Everything above is a fact ExlService Holdings disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where ExlService Holdings sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
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A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
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Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
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Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
357 figures on this page: 347 cited to the filing that reported them, 10 calculated from figures it prints.
347 cited to the filing
10 calculated from the filing

Documents cited

  1. 0001104659-26-074560
    Item 5.07. Submission of Matters to a Vote of Security Holders.
  2. 0001193125-26-181891
    CEO pay ratio · Director compensation for fiscal year 2025 · Grants of plan-based awards table for fiscal year 2025 · Outstanding equity awards at fiscal 2025 year-end · and 1 more section
  3. 0001104659-25-060321
    Item 5.07. Submission of Matters to a Vote of Security Holders.
  4. 0001193125-25-103261
    Summary compensation table for fiscal year 2024
  5. 0001104659-24-074734
  6. 0001193125-24-121970
    Summary compensation table for fiscal year 2023
  7. 0001193125-23-171321
  8. 0001193125-23-126858
    Summary compensation table for fiscal year 2022
  9. 0001297989-23-000004
    EX-10.17
  10. 0001193125-22-178131
    Item 5.07 Submission of Matters to a Vote of Security Holders
  11. 0001104659-21-082004
    Item 5.07 Submission of Matters to a Vote of Security Holders
  12. 0001104659-20-073462
    Item 5.07 Submission of Matters to a Vote of Security Holders
  13. 0001144204-19-031504
    Item 5.07 Submission of Matters to a Vote of Security Holders
  14. 0001144204-18-034885
    Item 5.07 Submission of Matters to a Vote of Security Holders
  15. 0001144204-17-033728
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Velarion, “ExlService Holdings executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/EXLS (accessed 2026).
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15 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
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Peers ExlService Holdings discloses

The companies named in EXLS's own disclosed peer group.

Dun & BradstreetEPAM Systems, Inc.Fair Isaac CorporationGenpact LimitedGuidewire Software, Inc.Informatica Inc.Perficient, Inc.SnowflakeTeradata CorporationTTEC Holdings, Inc.UiPath Inc.Verisk Analytics, Inc.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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