Salaries paid by New Zealand universities remain among the lowest in the English-speaking world despite big increases in the past four years.
The Deloitte report for Universities New Zealand says academics' salaries are now worth nearly the same as those paid in Britain but are still below those paid in Australia and North America.
The report adjusts salaries at all eight New Zealand universities and at selected universities in other countries for their purchasing power - what they can buy in those countries.
On that basis academics' pay in New Zealand has increased about 18% since 2008, which is about the rate of inflation and more than in most other countries.
While that has narrowed the gap with those countries, the report says New Zealand universities still face considerable stress if they want to maintain their academic workforce.