Wellington, June 2 NZPA - Salaries largely stabilised as the economic downturn hit, although pressure remains on earnings for roles where candidate demand continues to be high, a new survey has found.

Such in-demand roles generally involved revenue generation, cost reduction and risk management elements, recruitment consultancies group Hays said in releasing its annual salaries survey today.

The survey covers more than 1000 job titles across 14 sectors, with more than 1700 New Zealand and Australian employers consulted.

Hays New Zealand managing director Jason Walker said the previous "overheated and unsustainable job market" had slowed. "In the vast majority of cases, the premium salary that employers offered to attract a new recruit has all but disappeared, with starting salaries for new employees now largely in line with the salaries of existing employees. Sign-on bonuses have also become a thing of the past," he said. "This has led to significant salary stability across the board. Candidates looking for a new role are aware of the market shift and so are focusing on the employer and the opportunity rather than any possible increase in salary."

The report said that in accountancy and finance the focus had been on insolvency and business recovery, where candidate demand remained high although salary rises were rare.

In the procurement area, demand was high for experienced forecasting analysts, demand planners, purchasing analysts, procurement managers, and strategic sourcing managers. Employers were being driven to become more flexible and offer top market premiums for candidates with strong experience, the survey found.

It also noted that while the depth of the skills shortage in information technology had reduced, pockets of specific expertise remained in high demand.

The survey said the public sector was a bastion of consistency despite conditions, with many candidates perceiving it as offering career growth and security.

The highly publicised commitment to infrastructure by the Government had seen many candidates redefine the scope of their job search to include the public sector.