Financial services CEOs will earn a projected median of $581,222 in cash compensation in 2026 — more than twice the $280,100 expected for leaders in education, government and nonprofit organizations. The figures come from a 2026–2027 survey of 1,551 U.S. companies conducted by Chief Executive Group Research, and they carry a warning for boards that benchmark pay by industry alone: the rankings change once company size enters the equation.

Who earns the most — and the least

The top of the 2026 table looks like this:

• Financial services: $581,222 (including a $418,722 base salary and a $162,500 bonus)
• Pharmaceuticals and biotechnology: $549,677
• Energy, utilities, oil and gas: $486,631
• Architecture and engineering: $450,138
• Technology, telecommunications and software: $440,000

The bottom five: education, government and nonprofits at $280,100; media and publishing at $354,000; advertising, marketing and sales at $365,000; retail at $373,500; and agriculture, forestry and fishing at $379,100. The spread between the highest and lowest sectors runs to roughly $300,000.

Why can the same industry rank differently?

Actual 2025 data shows how misleading a single industry average can be. Among companies with $10 million to $99.9 million in revenue, pharma/biotech CEOs earned the most at $515,335, ahead of financial services at $496,602, energy at $447,333 and architecture and engineering at $435,000. Technology CEOs earned $431,250 — close to the leaders despite ranking fifth in the overall 2026 forecast.

In the $100 million to $999.9 million band, the picture shifts again. Pharma/biotech and financial services are virtually tied at $832,684 and $831,475. Technology climbs to third at $780,000, followed by architecture and engineering at $762,900. Energy drops to $662,000 — below several other industries despite its third-place overall ranking. A sector heavy with large companies can post higher averages even when its same-sized firms pay less than peers elsewhere.

What drives the sector differences?

The survey ties pay levels to what each sector demands from leadership. Financial services CEOs carry capital management, regulatory and risk responsibilities, and they anticipate the largest median bonus in dollar terms: $162,500. Measured against base salary, though, architecture and engineering leads, with bonuses at 50.2 percent of salary. Pharma/biotech CEOs expect a $150,000 median bonus, second only to financial services, reflecting long product timelines, scientific uncertainty and regulatory approvals. Nonprofits operate under mission, funding and stakeholder constraints that compress pay. Retail's labor costs, margins and demand volatility limit incentive budgets.

Which sectors are rising and which are falling?

Three-year data shows financial services holding the top spot while oscillating: $597,500 forecast for 2024, $540,265 for 2025, then $581,222 for 2026. Pharma/biotech traced a deeper arc, from $532,312 to $476,517 and back to $549,677 — with the rebound driven by bonuses, which jumped from a $90,000 median in the 2025 forecast to $150,000 in 2026 while base salaries moved modestly.

Energy barely moved: $485,256, $491,616 and $486,631 across the three years. Education and nonprofits crept from $275,850 to $280,100; media and publishing stayed near $354,000.

Retail is the notable decliner, sliding from $411,695 forecast for 2024 to $373,500 for 2026, as median bonuses fell from $117,632 to $75,000 while salaries held steady. Wholesale and distribution rebounded from $383,933 to $423,338 after its 2025 dip, and industrial manufacturing recovered from $390,000 to a projected $412,500. Consumer-goods manufacturing held near flat at $431,500.

What should boards take into 2027?

The research points to three lessons:

• The top-paying industry is not always the top-paying peer group; pharma/biotech out-earns financial services within matching revenue bands, and technology strengthens considerably once size is controlled for.
• Ownership structure matters: private equity-backed CEOs expect $590,000 in 2026, versus $426,070 at family-owned businesses and $290,000 at sole proprietorships.
• Most rank-shifting happens in bonuses, not salaries — as the pharma rebound and the retail decline both show.

The conclusion for practitioners is not to discard industry comparisons but to read them alongside revenue, ownership and bonus structures. Full breakdowns appear in Chief Executive Group Research's latest CEO & Senior Executive Compensation Report.