Existing literatures have little concern on the special governance in the banking industry when studying the relationship between CEO compensation and performance. And they most ignore the effect of banking governance structure. The authors analyze the relationship between compensation and performance from external supervision and high debt ratio in banking by empirical study. They find that banks have higher payperformance sensitivity than common firms and CEO compensation has a loose relationship with relative performance in the bank. The result also shows that the bank and the common firms have the same concern on the shareholders.They argue that the effect of governance is not optimistic in banking industry, although they have more perfect governance structure than the common firms.