Insurance sector wages have moved little in the past year, despite high demand for quality candidates and a chronic skills shortage, according to this year’s Hays Salary Guide.

This “surprising” trend is likely to continue in Australia and New Zealand, the recruiting company says.

Experienced risk managers and analysts are in high demand, as are claims assessors and loss adjusters amid a claims backlog from natural disasters.

Workers’ compensation professionals are in a strong position following the introduction of new legislation, the report says.

In New Zealand, the Christchurch rebuild means continued demand for claims and loss adjusters. The city also has a shortage of brokers and underwriters, and some employers have started looking overseas.

Hays Senior Regional Director Jane Donnelly told insuranceNEWS.com.au wages are being kept down by market nervousness.

“Organisations are still not quite sure what the market is doing and want to keep costs down, so they are not bringing in big salary rises.”

Despite this, the insurance industry “offers aspiring graduates a strong career path”, the report says.

A senior account manager at a general insurance brokerage in Sydney can expect to earn $90,000-$120,000.

In Perth the same role commands $110,000-$150,000, but in Adelaide, Canberra, Hobart and Darwin it drops to $80,000-$100,000.

In the financial services sector 5% of employers have no plans for salary increases in the next year, the report shows. Some 58% intend a rise of up to 3%, 35% will add 3% to 6%, and 2% plan to award more than 6%.

The economic situation is viewed positively, with 73% expecting business activity to increase, 25% predicting it will stay the same and 2% forecasting a drop-off.

The guide outlines salary and recruiting trends for more than 1000 roles, based on a survey of more than 1600 employers.