Financial Analyst Salary: Award Rates vs National Minimum Wage
A full-time financial analyst classified at Level 5 under the Banking, Finance and Insurance Award earns $33.99 per hour, or $67,174 per year based on 38 ordinary hours per week.
Financial Analyst Salary: Award Rates vs National Minimum Wage
When evaluating a financial analyst salary, it is essential to distinguish between the National Minimum Wage and the specific award that covers the role. Most financial analysts in Australia are covered by the Banking, Finance and Insurance Award 2020 (MA000019). This award sets minimum pay rates that are higher than the National Minimum Wage, reflecting the specialised skills and responsibilities of the position.
How annual salary is calculated from an hourly rate
The standard formula for converting an hourly rate to an annual salary is:
Hourly rate × hours per week × 52
For full-time employees, ordinary hours are 38 per week under the award. Using the Level 5 classification as an example:
- Hourly rate: $33.99
- Weekly rate: $33.99 × 38 = $1,291.80 (rounded to $1,291.80 per the award)
- Annual salary: $1,291.80 × 52 = $67,174 (matching the award’s minimum annual rate)
A fortnightly pay period is common in banking and finance. The fortnightly gross pay for a Level 5 financial analyst is $1,291.80 × 2 = $2,583.60.
National Minimum Wage vs award rates
From 1 July 2026, the National Minimum Wage is $26.44 per hour (or $33.05 per hour for casual employees including the 25% loading). However, award-covered employees must be paid at least the rate specified in their classification. For a financial analyst, the award rates are significantly higher:
| Classification | Minimum hourly rate (full-time) | Minimum annual salary |
|---|---|---|
| Level 4 | $32.67 | $64,553 |
| Level 5 | $33.99 | $67,174 |
| Level 6 | $38.07 | $75,234 |
These rates are sourced from the award page and apply from the first full pay period on or after 1 July 2026.
Casual loading for financial analysts
If a financial analyst is employed as a casual, they receive a 25% loading on top of the minimum hourly rate. For a Level 5 casual:
- Base rate: $33.99
- Casual loading (25%): $8.50
- Casual hourly rate: $42.49
This loading is paid instead of annual leave, personal/carer’s leave, notice of termination, and redundancy benefits. The casual loading is not applied to overtime rates, which have separate penalty calculations.
Superannuation paid on top
Under the Superannuation Guarantee, employers must contribute 12% of an employee’s ordinary earnings into a superannuation fund. This is paid on top of the salary, not deducted from it. For a full-time Level 5 financial analyst earning $67,174 per year:
- Super contribution: $67,174 × 12% = $8,060.88
- Total remuneration package: $75,234.88
The super guarantee is capped at the maximum contribution base of $270,830 per year, so for salaries above that threshold the employer’s obligation is limited.
Tax considerations for 2026–27
Income tax is withheld from your gross pay. The 2026–27 resident tax rates are:
- $0 – $18,200: nil
- $18,201 – $45,000: 15% of excess over $18,200
- $45,001 – $135,000: $4,020 plus 30% of excess over $45,000
- $135,001 – $190,000: $31,020 plus 37% of excess over $135,000
- $190,001+: $51,370 plus 45% of excess over $190,000
Additionally, the Medicare levy of 2% applies (with reductions for low-income earners). For a Level 5 financial analyst earning $67,174, the estimated tax (including Medicare) would be approximately $11,667, leaving a net annual income of about $55,507. Use the take-home pay tool for a personalised estimate.
Using the timesheet tool
To calculate your own financial analyst salary or any other role, try our timesheet. Enter your base hourly rate and tick the casual loading checkbox if applicable. The tool applies the 38-hour week and 52-week year automatically. For award-specific rates, refer to the pay guides or reference tables on this site.
Key distinctions to remember
- The National Minimum Wage ($26.44) is a floor; award rates for financial analysts are higher.
- Casual loading (25%) is added on top of the base hourly rate, not included in it.
- Superannuation is paid on top of your salary, at 12% of ordinary earnings.
- Annual salary = hourly rate × 38 × 52 (assuming full-time, no unpaid overtime).
- Fortnightly pay = weekly rate × 2.
For more details on award classifications, visit the job pay page. If you are comparing a salary offer, remember that penalty rates, allowances, and salary packaging can change the effective hourly rate. Always check the applicable award or enterprise agreement.
Disclaimer
Annual pay shown here is hourly rate × hours per week × 52. It assumes the same rate every week, no unpaid overtime, no penalty rates, no allowances, and no salary sacrifice. Super is estimated at 12% of ordinary earnings only, paid on top, and stops at the $270,830 maximum contribution base. Tax is the 2026–27 resident scale with the full tax-free threshold. Medicare uses the 2025–26 single reduction thresholds because the 2026–27 reduction thresholds were not confirmed here. HELP, the Medicare levy surcharge, and salary packaging are not deducted. This is an estimate, not a determination of your pay or tax.
Open the same rate on the home timesheet. Read the reference tables before treating a figure as your pay.