The number of top executives at NSW Treasury ballooned by 16 per cent to 144 and their combined salaries jumped by 22.6 per cent to $30.1 million between 2014-15 and 2015-16, according to annual reports.

In the financial year before that, their ranks increased by one and their overall pay went up by 2.5 per cent, in line with the 2.5 per cent cap on annual wage increases for public servants.

The 22.6 per cent hike is in stark contrast to Premier Gladys Berejiklian's statement as Treasurer last year that government processes needed to be "leaner and more efficient".

"There is opportunity here to reduce this number not for the sake of it but because it will reduce waste, streamline decision-making and make government work better," she said.

The annual reports also show Treasury's top brass now account for 41.1 per cent of all its salaries-related expenses. They are costing taxpayers an extra $5.6 million a year.

Treasury secretary Rob Whitfield, who reportedly left a $5 million a year role at Westpac to take the top job, was paid $550,000.

Shadow Treasurer Ryan Park said the swelling in Treasury's chiefs showed Ms Berejiklian is out of touch.

"This is money that could be spent fixing up the state's schools and hospitals," he said.

"There is overcrowding in schools, falling academic standards, soaring hospital emergency wait times, cutbacks to TAFE and a housing affordability crisis, yet the Premier thought it perfectly reasonable to boost her executive ranks by 16 per cent in one year."

NSW Treasurer Dominic Perrottet said the government's "superior" financial management had resulted in a budget in surplus, near zero debt and more frontline nurses, teachers and police.

"We will not take advice on financial management from the NSW Labor party with their appalling track record in failing to deliver the basic services our state needed," he said.A NSW Treasury spokesperson said it was delivering on its strong management of the state's financial position."Treasury has invested in new capability such as financial management transformation, financial risk management and contestability which will drive efficiencies and better outcomes for the people of NSW in the short-medium term," the spokesperson said.

But Stewart Little, Public Service Association's general secretary, said he was "appalled" by the "astonishing" figures given the fact the government was privatising assets and axing hundreds of jobs across the state.

He said the government should be focused on delivering, not cutting, services.

"They announced that 50 jobs were to go from Coffs Harbour and Port Macquarie because they're transferring Housing NSW to the private sector," he said.

"They're also privatising disability services, which will cut hundreds of jobs, and that's an absolute disgrace."

Mr Little said regional areas were being hit especially hard by the cutting and privatisation of government services and that Ms Berejiklian should expect a voter backlash.

"The Treasury is handing these lucrative agencies to their friends in the big end of town, and they'll pay for that at the ballot box," he said.

The number of full-time employees has dropped by 1346 to 326,765 in the past year, according to the Public Service Commission.

The median salary for a female public servant is $79,363 and for a male employee, $80,896.