Hopefully the benefits of running a high-profile retail REIT are commensurate with the high stress levels that go along with the job. However they feel about their paychecks, most executives couldn't complain about the raises they got in 2003. For example, Weingarten Realty Trust executive compensation increased by 15 percent to 25 percent in 2003. And Simon Property Group executives' compensation was up about 25 percent for 2003.

Compensation of Top Officers at Public REITs for 2003
NAME TITLE COMPANY BASE SALARY TOTAL COMPENSATION (exc. Stock options)
Thomas Lowder Chairman & Pres. Colonial Property Trust $400,000 $413,313
John Hughey Executive VP Colonial Property Trust $210,000 $375,136
Herbert Glimcher Chairman Glimcher Realty Trust $537,500 $537,500
Michael Glimcher President Glimcher Realty Trust $376,250 $376,250
Milton Cooper Chairman Kimco $658,500 $1,008,950
Michael Flynn Vice Chairman, Pres. Kimco $658,500 $1,008,950
Glenn Rufrano CEO New Plan Excel $555,000 $1,708,500
Scott MacDonald President New Plan Excel $425,000 $838,320
Stuart Tanz President Pan Pacific $700,000 $4,292,390
Jeffrey Stauffer Exec. VP Pan Pacific $365,000 $1,998,480
Hap Stein Chairman Regency Centers $450,000 $2,936,174
Mary Lou Fiala President Regency Centers $368,000 $2,022,174
David Simon Chairman Simon $800,000 $2,222,968
Richard Sokolov President Simon $600,000 $2,248,405
Andrew Alexander President Weingarten Realty Trust $575,000 $1,365,254
Source: company proxy reports