Financial Planner Salary: Award Rates, Hourly Pay, and Annual Earnings in Australia

Financial Planner Salary: Award Rates and Annual Earnings

If you're working as a financial planner in Australia, your minimum pay depends on which award covers your role. Many financial planners are classified under the Banking, Finance and Insurance Award 2020, which sets minimum hourly and annual rates for different levels. This article explains how to convert those rates to annual salary, what you can expect fortnightly, and how tax and super affect your take-home pay.

Award Coverage for Financial Planners

According to the Fair Work Ombudsman, a financial planner employed by a bank or a business providing services to the banking, finance, or insurance industry is likely covered by the Banking, Finance and Insurance Award. Under this award, the indicative job list for Level 6 includes financial planner, along with branch manager and senior analyst. The minimum rates for Level 6 are:

• Annual rate: $75,234
• Weekly rate: $1,446.80
• Hourly rate: $38.07 (based on 38 ordinary hours per week)

If you are a casual employee, you receive a 25% loading on top of the minimum hourly rate, making it $47.59 per hour. This loading compensates for the lack of paid leave and other entitlements.

However, not all financial planners are covered by this award. If your employer is not in the banking, finance or insurance industry, you may be covered by the Clerks Award, the Miscellaneous Award, or be award-free. Award-free employees are entitled to the **National Minimum Wage, which from 1 July 2026 is $26.44 per hour or $1,004.90 per week. For a casual award-free financial planner, the rate including loading is $33.05 per hour.

Converting Hourly Rates to Annual Salary

The standard formula for converting an hourly rate to annual salary is:

**Annual salary = hourly rate × hours per week × 52

We assume a 38-hour week, which is the ordinary full-time hours under most awards, including the Banking, Finance and Insurance Award. For a Level 6 financial planner:

$38.07 × 38 × 52 = $75,234.32 per year

If you are paid fortnightly, your gross pay would be the weekly rate multiplied by two: $1,446.80 × 2 = $2,893.60 per fortnight

For an award-free financial planner on the National Minimum Wage:

$26.44 × 38 × 52 = $52,245.44 per year, or $2,009.80 per fortnight.

Use our hourly conversion tool to quickly calculate your annual salary from any hourly rate. The tool also allows you to add casual loading if applicable.

Fortnightly Pay and Tax Considerations

Your gross fortnightly pay is simply your weekly pay doubled. From that, the Australian Taxation Office withholds tax based on the 2026–27 resident tax rates:

• Nil tax 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% applies to most taxpayers. For a Level 6 financial planner earning $75,234, the estimated tax (including Medicare) would be approximately $14,467 per year, leaving a net annual income of around $60,767. Your fortnightly net pay would be about $2,337.

Remember that these are estimates. Your actual tax may vary depending on your circumstances, such as the Medicare levy surcharge or HELP loan repayments. For a more detailed breakdown, see our take-home pay guide.

Superannuation on Top

Employers must pay superannuation guarantee contributions of 12% of ordinary earnings on top of your salary. This is not deducted from your pay; it is an additional contribution. For a Level 6 financial planner earning $75,234, the super contribution is $9,028 per year, bringing the total cost to the employer to $84,262.

The super guarantee has a maximum contribution base of $270,830 per year. If your salary exceeds that, the employer only pays 12% on the first $270,830. For most financial planners, this cap is not reached.

Super is paid on ordinary earnings, which includes your base salary but not overtime or bonuses. For casual employees, the casual loading is part of ordinary earnings, so super is calculated on the loaded rate.

Learn more about super and packaging to understand how salary sacrifice and other arrangements affect your super.

What If You're Award-Free?

If your employer is not covered by an industry or occupational award, you are award-free and entitled only to the National Minimum Wage and the National Employment Standards. The National Minimum Wage from 1 July 2026 is $26.44 per hour. For a full-time award-free financial planner, the annual salary would be $52,245.44. Casual loading adds 25%, making the casual rate $33.05 per hour.

Award-free employees do not have the penalty rates or allowances that award-covered employees receive, but they are still entitled to superannuation and the same tax treatment.

Using the Timesheet Tool

Our [timesheet tool lets you enter your base hourly rate and optionally add casual loading. It calculates your annual salary, fortnightly pay, estimated tax, and super contributions. This is a quick way to see how different rates affect your financial planner salary.

For example, if you are a Level 6 financial planner on $38.07 per hour, the tool will show $75,234 per year, with super of $9,028 on top. If you check the casual loading checkbox, it will use $47.59 per hour, giving $94,042 per year (before super).

Remember that this is an estimate. It assumes the same rate every week, no unpaid overtime, no penalty rates, and no salary sacrifice. Super is estimated at 12% of ordinary earnings, paid on top, and stops at the $270,830 maximum contribution base. Tax uses the 2026–27 resident scale with the full tax-free threshold and Medicare levy.

For more information on award rates, visit our pay guides or reference tables. You can also check the minimum wage and average pay topics for broader context.