How to Calculate Your Finance Broker Salary from an Hourly Rate
The median finance broker salary is around $134,000 per year based on a $70 hourly rate and a 38-hour week, though actual earnings vary by experience and hours worked.
Understanding Your Finance Broker Salary
If you work as a finance broker or are considering the role, you may need to convert an hourly rate into an annual salary. Whether you are negotiating a contract, comparing job offers, or planning your budget, the calculation is straightforward: multiply your hourly rate by the number of hours you work per week, then by 52 weeks. This article explains how to apply that formula to a finance broker salary, using official rates from the Fair Work Ombudsman and earnings data from the Australian Bureau of Statistics.
The Standard Calculation
Annual gross pay = hourly rate × hours per week × 52.
For full-time employees under the Banking, Finance and Insurance Award 2020, ordinary hours are an average of 38 per week. So if your base hourly rate is $70.00 (the median for finance brokers according to the ABS), your annual salary would be:
$70.00 × 38 × 52 = $138,320.
However, many finance brokers work longer hours. The ABS reports an average of 45 hours per week for full-time financial brokers. If you consistently work 45 hours at the same rate, your annual gross would be $70.00 × 45 × 52 = $163,800. But be aware that award overtime rates may apply beyond 38 hours, and the standard formula assumes no unpaid overtime. For a more precise estimate, use the timesheet to enter your actual hours.
Award Rates for Finance Brokers
Finance brokers are often covered by the Banking, Finance and Insurance Award 2020. The award sets minimum hourly rates for six classification levels. As of the first full pay period on or after 1 July 2026, the rates are:
- Level 1: $26.97 per hour
- Level 2: $29.45 per hour
- Level 3: $31.11 per hour
- Level 4: $32.67 per hour
- Level 5: $33.99 per hour
- Level 6: $38.07 per hour
These are the minimums for full-time employees. Casual workers receive a 25% loading on top of these rates. For example, a casual Level 4 finance broker would earn $32.67 + 25% = $40.84 per hour. You can find the full award rates in our pay guides and reference tables.
Most experienced finance brokers earn well above these award minimums. The award provides a safety net, but your actual pay may be higher depending on your employer, location, and performance.
Market Earnings: What the ABS Says
The Australian Bureau of Statistics, through Jobs and Skills Australia, publishes earnings data for financial brokers. The most recent survey (May 2025) shows:
- Median full-time weekly earnings: $2,576
- Median hourly earnings: $70
- Average full-time hours worked per week: 45 hours
Using the median weekly figure, the annual finance broker salary is approximately $2,576 × 52 = $133,952. This is close to the $138,320 calculated from the $70 hourly rate at 38 hours, suggesting that the median hourly rate reflects ordinary-time earnings rather than total hours. If you work 45 hours, your actual weekly pay may be higher due to overtime or penalty rates, but the median hourly figure is a useful benchmark for comparing roles.
Casual Loading and Superannuation
If you work as a casual finance broker, your pay includes a 25% loading on the base rate. This loading compensates for the lack of paid leave and other entitlements. When using a calculator, always enter your base hourly rate and then select the casual loading option. Never enter a rate that already includes the loading.
Superannuation is paid on top of your ordinary earnings. From 1 July 2026, the super guarantee is 12% of your ordinary time earnings, up to the maximum contribution base of $270,830 per year. For a full-time finance broker earning $70 per hour, super adds $8.40 per hour (12% of $70). This is not deducted from your pay; it is an additional contribution to your super fund. Learn more about super and packaging and casual loading.
Tax Considerations
Your annual gross pay is not the same as your take-home pay. The Australian Taxation Office applies marginal tax rates for 2026–27:
- $0 – $18,200: nil
- $18,201 – $45,000: 15%
- $45,001 – $135,000: 30%
- $135,001 – $190,000: 37%
- $190,001+: 45%
Plus a Medicare levy of 2% (with possible reductions for low-income earners). For a finance broker earning $133,952, the tax would be roughly $30,000–$35,000, depending on deductions and offsets. Use our take-home pay guide for a detailed estimate.
Using the Timesheet Calculator
Our timesheet is designed to help you convert your hourly rate into annual, weekly, fortnightly, and monthly figures. Simply enter your base hourly rate, select your hours per week (default 38 hours), and check the casual loading box if applicable. The calculator shows your gross annual salary, superannuation, and estimated tax. Remember that the result is an estimate—it assumes the same rate every week, no unpaid overtime, no penalty rates, and no salary sacrifice.
Conclusion
Your finance broker salary depends on your hourly rate, hours worked, and whether you are permanent or casual. The award provides a minimum, but market rates from the ABS show a median of $70 per hour and $133,952 per year. Use the standard formula and our tools to get a personalised estimate for your situation.
Disclaimer: Annual pay 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.