Soft x‐ray photoemission measurements of ultrahigh‐vacuum‐cleaved GaP (110) surfaces with In, Al, Ge, Cu, and Au overlayers reveal Fermi level stabilization over a wide energy range and a near‐ideal correlation between Schottky barrier height and metal work function. Coupled with recent findings for InAs (110) and InxGa1−xAs (100) (x>0) surfaces, these results demonstrate that Fermi level pinning in a narrow energy range is not representative of metal/III‐V compound semiconductor interfaces.