Financial Advisor Salary: How to Convert Hourly Rates to Annual Pay Under Australian Awards
For a financial advisor on the Banking, Finance and Insurance Award Level 4, the minimum hourly rate is $32.67, giving an annual salary of about $64,553 before tax and super.
Understanding Financial Advisor Salary
If you're a financial advisor or considering the profession, knowing how your hourly rate translates to an annual salary is essential for budgeting, negotiating, and planning your tax and super. This guide uses the latest Fair Work Ombudsman data to walk you through the conversion, award coverage, and what you can expect to take home.
Hourly to Annual Conversion
The standard formula for a full-time employee working 38 ordinary hours per week is:
Annual gross = hourly rate × 38 hours × 52 weeks
For example, a financial advisor classified at Level 4 under the Banking, Finance and Insurance Award (from 1 July 2026) has a minimum hourly rate of $32.67. That gives:
$32.67 × 38 × 52 = $64,553 per year (rounded).
If you're paid fortnightly, your gross pay would be $1,241.40 per week × 2 = $2,482.80 per fortnight. You can use the timesheet to quickly convert any hourly rate.
Award Coverage for Financial Advisors
The Fair Work Ombudsman explains that financial advisors may be covered by the Banking, Finance and Insurance Award if their employer operates in banking, finance, or insurance. For example, a financial advisor employed by a bank is covered. However, those working for a dedicated financial planning business may not be covered by that award. They could be award-free or covered by the Miscellaneous Award, but degree-qualified professionals are often excluded from the Miscellaneous Award.
Below are the minimum weekly and hourly rates under the Banking, Finance and Insurance Award (effective 1 July 2026):
| Classification | Annual | Weekly | Hourly |
|---|---|---|---|
| Level 1 | $53,284 | $1,024.70 | $26.97 |
| Level 2 | $58,193 | $1,119.10 | $29.45 |
| Level 3 | $61,469 | $1,182.10 | $31.11 |
| Level 4 | $64,553 | $1,241.40 | $32.67 |
| Level 5 | $67,174 | $1,291.80 | $33.99 |
| Level 6 | $75,234 | $1,446.80 | $38.07 |
These rates are the minimum. Many financial advisors earn above award, especially if they are degree-qualified and award-free. For those without award coverage, the National Minimum Wage applies: $26.44 per hour or $1,004.90 per week from 1 July 2026.
Casual Loading
If you work as a casual financial advisor, you receive a 25% loading on top of the minimum hourly rate. For Level 4, that's $32.67 × 1.25 = $40.84 per hour. The loading compensates for leave entitlements. Use our casual loading page for more details.
Tax and Medicare
Once you have your annual gross salary, you can estimate your tax using the 2026–27 resident tax rates:
- Nil on the first $18,200
- 15% on income from $18,201 to $45,000
- 30% on income from $45,001 to $135,000
- 37% on income from $135,001 to $190,000
- 45% on income above $190,000
Plus the Medicare levy of 2% (generally). For a Level 4 financial advisor earning $64,553, the tax would be approximately:
- $0 on first $18,200
- 15% on $26,800 ($45,000 – $18,200) = $4,020
- 30% on $19,553 ($64,553 – $45,000) = $5,866
- Total tax: $9,886
- Medicare levy (2%): $1,291
- Total deductions: $11,177
- Take-home pay: $53,376 per year, or about $1,026 per week.
You can use our take-home pay estimator for a more detailed calculation.
Superannuation
Super is paid on top of your salary. The super guarantee rate is 12% of ordinary earnings, up to the maximum contribution base of $270,830. For a $64,553 salary, that's an extra $7,746 per year contributed to your super fund. This is not deducted from your pay; it's an employer contribution. See our super and packaging page for more.
Using the Timesheet
To calculate your own financial advisor salary, enter your hourly rate into the timesheet and check the casual loading box if applicable. The tool will show your annual, weekly, and fortnightly gross pay, plus estimated tax and super. You can also compare your rate to award minimums using our pay guides and reference tables.
Summary
Whether you're on an award or award-free, the formula remains the same: hourly × 38 × 52. Understanding your financial advisor salary helps you negotiate better and plan for tax time. Remember that super is on top, and casual loading adds 25% if applicable. Always check your specific award coverage with the Fair Work Ombudsman if you're unsure.
Open the same rate on the home timesheet. Read the reference tables before treating a figure as your pay.