What is the typical hourly rate for a mortgage advisor under the Real Estate Industry Award?

Mortgage advisors are classified under the Real Estate Industry Award 2020. A Level 2 (Representative Level) full-time employee earns $29.45 per hour from 1 July 2026. A Level 1 (Associate) starts at $26.59 per hour for the first 12 months. Casual employees receive a 25% loading, making the casual rate $36.81 per hour for Level 2.

How is casual loading applied to a mortgage advisor salary?

Casual loading is 25% of the minimum hourly rate, paid for all ordinary hours. It replaces entitlements like annual leave and paid personal/carer's leave. For a mortgage advisor at Level 2, the casual hourly rate is $29.45 × 1.25 = $36.81. This loading is included in the all-purpose rate and also applies to overtime calculations.

What is the annual salary for a Level 2 mortgage advisor including super?

A full-time Level 2 mortgage advisor working 38 hours per week earns $29.45 × 38 × 52 = $58,173.20 per year. Superannuation is paid on top at 12% of ordinary earnings (up to the maximum contribution base of $270,830), adding $6,980.78. After tax (2026-27 rates including Medicare levy of 2%), the estimated take-home pay is approximately $46,000, depending on individual circumstances.

Mortgage Advisor Salary: Converting Hourly Rates to Annual Pay Under the Real Estate Award

A full-time mortgage advisor at Level 2 (Representative Level) earns $29.45 per hour, equating to $58,173 annually for 38 hours per week, with super and tax applied on top.

Understanding the Mortgage Advisor Salary

If you're working as a mortgage advisor or considering the role, knowing how your hourly rate translates into annual, fortnightly, and take-home pay is essential. Mortgage advisors in Australia are typically covered by the Real Estate Industry Award 2020 (MA000106), which sets minimum wages, penalty rates, and casual loadings. This guide explains how to convert an hourly rate into annual salary, using the award rates from 1 July 2026, and distinguishes between the National Minimum Wage, award rates, casual loading, and superannuation.

The Basic Formula: Hourly × Hours per Week × 52

The standard calculation for annual gross pay is:

Annual gross = hourly rate × hours per week × 52

We assume a full-time week of 38 ordinary hours, as defined by the Fair Work Ombudsman. For part-time employees, use the agreed weekly hours. This formula assumes the same rate every week, no unpaid overtime, no penalty rates, and no salary sacrifice. It's an estimate, not a binding determination.

For example, a full-time mortgage advisor at Level 2 (Representative Level) earns $29.45 per hour. Their annual salary is:

$29.45 × 38 × 52 = $58,173.20

A fortnightly pay (every two weeks) would be $29.45 × 38 × 2 = $2,238.20 before tax and super.

National Minimum Wage vs Award Rates

From 1 July 2026, the National Minimum Wage is $26.44 per hour or $1,004.90 per week for 38 hours. However, most mortgage advisors are covered by the Real Estate Industry Award, which has higher minimum rates. The award classifies employees into four levels:

Level 1 (Associate) – first 12 months: $26.59/hr
Level 1 (Associate) – after 12 months: $28.00/hr
Level 2 (Representative) – typical for mortgage advisors: $29.45/hr
Level 3 (Supervisory): $32.39/hr
Level 4 (In-Charge): $33.88/hr

These rates apply from the first full pay period on or after 1 July 2026. Always check the pay guides for your specific classification.

Casual Loading and Superannuation

Casual employees receive a 25% loading on top of the minimum hourly rate. For a Level 2 mortgage advisor, the casual rate is $29.45 × 1.25 = $36.81 per hour. This loading is paid for all ordinary hours and replaces entitlements like annual leave and sick leave. When calculating annual pay for a casual, use the loaded rate in the same formula: $36.81 × 38 × 52 = $72,736.56.

Superannuation is paid on top of ordinary earnings at 12% (the super guarantee rate for 2026-27). The maximum contribution base is $270,830 per year. For a full-time Level 2 mortgage advisor, super adds $58,173.20 × 0.12 = $6,980.78 per year. This is an employer contribution and does not reduce your take-home pay.

Tax and Take-Home Pay

Using the 2026-27 resident tax rates:

Nil tax on first $18,200
15% on income between $18,201 and $45,000
30% on income between $45,001 and $135,000
37% on income between $135,001 and $190,000
45% on income above $190,000

Plus the Medicare levy of 2% (using the 2025-26 single reduction thresholds as 2026-27 thresholds were not confirmed).

For a $58,173 annual salary:

Tax on $58,173: ($45,000 - $18,200) × 0.15 + ($58,173 - $45,000) × 0.30 = $4,020 + $3,951.90 = $7,971.90
Medicare levy: $58,173 × 0.02 = $1,163.46
Total tax and Medicare: $9,135.36
Estimated take-home: $49,037.84 per year (before any HELP or surcharges)

Use the hourly conversion tool to estimate your own figures.

Comparing with Average Earnings

The Australian Bureau of Statistics (ABS) reports Average Weekly Earnings for full-time adult ordinary time as $2,083.70 per week (May 2026). That equates to an annual salary of about $108,352. A mortgage advisor at Level 2 ($58,173) is below this average, but experienced advisors or those on higher classifications (Level 3 or 4) may earn more. The all-employees average (including part-time) is $1,579.20 per week ($82,118 annually).

Key Takeaways

Mortgage advisor salary under the Real Estate Industry Award starts at $26.59/hr for Level 1 and rises to $33.88/hr for Level 4.
Full-time annual pay = hourly rate × 38 × 52. Fortnightly = hourly × 38 × 2.
Casual loading adds 25% to the base rate.
Super is 12% paid on top, not deducted from your pay.
Tax and Medicare reduce gross pay; use the take-home pay estimator for a personalised calculation.

Always refer to the Fair Work Ombudsman's pay guides and the award for your exact classification and any applicable allowances or penalty rates.