Senior Executive Service Reform Act of 2003

Senior Executive Service Reform Act of 2003 - Prohibits pay rates for members of the Senior Executive Service (SES) from being: (1) greater than that for level III of the Executive Schedule (ES); or (2) less the minimum rate of basic pay for senior level positions classified above GS-15. Requires each appointing authority to determine such rates based on the executive's experience and capabilities, responsibilities of the position, and such other criteria as the Office of Personnel Management may prescribe.

Provides pay increases for administrative law judges, Contract Appeals Board members, and certain senior level positions by raising the ES level on which their pay is based. Authorizes the President to provide for such SES comparability pay adjustments as necessary to conform to such increased rates.

Establishes as the maximum annual rate of pay, including comparability pay adjustments: (1) ES level II for SES positions, including positions in the Federal Bureau of Investigation and the Drug Enforcement Administration; and (2) ES level III for Federal positions not covered by the General Schedule for which the rate of pay is no more than the ES level IV rate.

Provides one day of annual leave for each full biweekly pay period for positions classified above GS-15, senior executives, and employees for which the minimum rate of basic pay is not less than 120 percent of the GS-15 rate.

Limits the duration of limited emergency appointments to one year and of limited term appointments to four years, allowing extensions if exigencies of the public business so require. Outlines reassignment authority for such employees. Increases limits on aggregate service. Provides reemployment rights.