CHICAGO-Compensation levels and bonuses for well-performingexecutives at public real estate firms have, in general, beenrestored to pre-2009 levels, according to the annual Top 100 PublicReal Estate Executive Compensation Analysis. The study, performedby locally-based FPL Associates LP, is based on the 2010 proxyfilings (reflective of compensation for the 2009 performance year)of the 100 largest publicly traded real estate companies asmeasured by total capitalization.

According to the analysis, salaries are now up 2.6%, with themedian level of cash bonuses increasing by about 19% and equityawards up by 16%. “Certainly some of the pay has been recouped frombeing down the previous year,” said Jeremy Banoff, a managingdirector with FPL. “We still haven’t hit peak levels of 2007, butwe’re making our way back.”

Among the top four executive levels (CEO, COO, CFO and generalcounsel), a 5% increase in CEO base salaries offset the otherwisegenerally flat levels (0% to 2%) for the remaining executives,according to the analysis. Median base annual salaries were: CEO,$600,000; COO, $425,000; CFO, $350,000; and general counsel,$305,000. Total remuneration, which collectively includes basesalary, annual incentive/cash bonus and the annualized value oflong-term equity awards, was about 15% higher across all fourpositions, compared to performance year 2008, the study said.