Based on the data of CSMAR from 2003 to 2021, the effect and mechanism of globalization on executive compensation was investigated. The results indicate that globalization has a positive influence on executive compensation. Furthermore, the coefficients of interest pass multiple robustness tests. In addition, further research shows that globalization mainly affects executive compensation through the governance of independent directors while the role of market mechanisms is limited. Thirdly, the heterogeneity test indicates that the impacts of globalization on executive compensation are heterogeneous across different industries, such as monopolistic industry and non-monopoly industry, different firms, such as state-owned enterprises and privately owned enterprises. Besides, power executives benefit more from globalization than other people, which means that as globalization progresses, inequality among executives is rising. Our findings provide new evidence that globalization has a positive impact on executive compensation in China, and help enrich the literature in the field of international trade and top income distribution.