Total realized compensation of chief executive officers in the S&P 500 rose by 36.5 percent last year, while total realized compensation for all CEOs—including those from companies outside of the S&P 500 group—rose by 27 percent, according to a survey conducted by governance and ESG ratings and research firm GMI.

“The 36.5 percent increase in realized compensation is particularly notable when it's put in context of the modest growth of the economy in 2010 and general public company performance last year,” says Paul Hodgson, chief communications officer and senior research associate of the firm.

In its annual CEO Pay Survey 2011, the firm studied more than 3,200 proxy statements and calculated the changes based on the data in proxy statements where CEOs had been in their positions for the last two years.

The firm's calculation of realized compensation includes total annual compensation, change in pension and non-qualified deferred compensation, value realized in exercising options and vesting of other equity, and any payments from a vested retirement plan.

The survey found that three of the ten highest paid CEOs last year were from the healthcare providers and services industry, while four out of the ten highest paid chiefs received the compensation as part of their exit packages, including retirement or termination.

Annual compensation rose by more than 13 percent, thanks to the increase in annual cash bonus payments. In addition to annual pay elements contributing to the rise in CEO pay, their bigger paychecks also benefited from greater profits in stock option exercises and vested stock during 2010.

Other key findings from the report include:

Perks in the S&P 500 increased 11 percent from 2009 to 2010

Three of the five highest paid CEOs of 2010 received single-year pension and deferred compensation increases of $14 million

More than 70 percent of CEOs received a restricted stock award in 2010; only 53 percent received stock options

“Shareholders understand and expect that extraordinary compensation must be linked sufficiently to extraordinary performance. For that reason, they are increasingly frustrated about these clear failures of compensation governance,” said Hodgson.