Based on a sample of Chinese A-share listed firms in the Shanghai and Shenzhen Stock Exchanges, this paper explores the substitutive effects of relative compensation level on executive compensation stickiness and the moderator effects of internal supervision. Results show that executive excess compensation, executive-employee pay gaps, and external pay gaps all have substitutive effects on executive compensation stickiness. When the quality of internal control is high, the substitutive effects described above are stronger. Compared with competitive state-owned enterprises (SOEs) and non-SOEs with a higher degree of marketization, the substitutive effects of executive excess compensation and internal pay gaps on executive compensation stickiness are stronger in non-competitive SOEs.