Where managers live makes a lot of difference in how much they are paid, the survey revealed. Those who managed 300- to 500-unit properties in Jackson, MS earned $33,800; people doing the same work in San Francisco took home $54,800. But, if you are a leasing consultant it doesn't seem to matter where you live. They were paid $25,600 on average whether they lived in Providence, RI or Los Angeles.

Going forward, the compensation outlook for real estate professionals seems less rewarding. Average executive pay increases are projected to fall from 7% last year to 5.5% in 2000 and then to 5.1% the year after. These declines come at a time of an average employee turnover rate of 50% during 1999, $35% of which was voluntary.