What is the minimum wage for a CFO in Australia?

If a CFO is not covered by a modern award or enterprise agreement, the national minimum wage applies. From 1 July 2026, that is $26.44 per hour or $1,004.90 per week. However, most CFOs are employed under enterprise agreements or individual contracts that pay well above this floor.

How does a CFO salary compare to average Australian earnings?

The Australian Bureau of Statistics reports that average full-time adult ordinary-time earnings were $2,083.70 per week in May 2026. CFO salaries typically exceed this, but exact figures vary by industry, company size, and experience. The ABS does not publish a separate CFO average.

Does superannuation apply to a CFO's pay?

Yes. Employers must pay the super guarantee of 12% on top of ordinary time earnings, including for CFOs. This applies unless the employee earns above the high income threshold ($190,100 in 2026-27) and has chosen to opt out of receiving super on amounts above that threshold.

CFO Salary vs Minimum Wage: What's the Legal Floor?

The legal minimum for an award-free CFO is the national minimum wage of $26.44 per hour, but actual CFO salaries are significantly higher and determined by market conditions.

CFO Salary: The Legal Minimum and What It Means

When people search for "cfo salary" in Australia, they usually want to know what a Chief Financial Officer earns. The answer depends on whether the role is covered by a modern award, an enterprise agreement, or is award-free. This guide explains the legal pay floor and how to compare it with market rates.

The Legal Minimum for an Award-Free CFO

The Fair Work Commission sets the national minimum wage each year. For employees not covered by an award or registered agreement, the minimum is $26.44 per hour or $1,004.90 per week from the first full pay period on or after 1 July 2026. This is the absolute legal floor. The Fair Work Ombudsman explains and enforces these rules.

Most CFOs are senior managers and are unlikely to be covered by a modern award. Awards typically cover occupations like clerical, retail, or hospitality, not executive roles. If no award applies and no enterprise agreement is in place, the national minimum wage is the starting point. However, in practice, CFOs are almost always employed under individual contracts or enterprise agreements that pay far more.

Separating the Minimum from Market Rates

It is important to distinguish the legal minimum from a survey average or a negotiated salary. The national minimum wage is a safety net. Actual CFO salaries are determined by market forces, company size, industry, and the executive's experience. The Australian Bureau of Statistics publishes average weekly earnings for full-time adults ($2,083.70 as of May 2026), but this figure covers all occupations, not just CFOs. No official source publishes a specific "cfo salary" median for CFOs.

If you are checking a CFO salary offer, compare it to the relevant award rate (if any) or the national minimum. If the role is award-free, the only legal requirement is that the hourly rate is at least $26.44. But a fair salary will be much higher.

Superannuation Is Paid on Top

When discussing any salary, remember that the super guarantee is an employer payment on top of ordinary time earnings. From 1 July 2026, the rate is 12%. For a CFO earning $200,000 per year, the employer must pay an additional $24,000 in super (unless the employee has opted out due to the high income threshold of $190,100). The national minimum wage figures quoted are before super.

How to Check Which Pay Floor Applies

To determine the correct minimum for a CFO role:

Check if a modern award covers the occupation. Use the Fair Work Ombudsman's Pay and Conditions Tool or the Fair Work Commission's Modern Awards Pay Database.
If no award applies, the national minimum wage is the floor.
If an enterprise agreement covers the role, the agreement rate applies, but it cannot be less than the relevant award or the national minimum.

For more detail, see Which minimum wage applies and the Rate tables on this site.

Exceptions and Special Rates

The national minimum wage does not apply to every worker in the same way. Junior employees, apprentices, trainees, and those on introductory award rates can be paid less. However, a CFO is almost always an adult employee, so the full adult rate applies. The junior percentage table on this site is for award-free employees under 21; it does not apply to CFOs who are adults.

What If the CFO Role Is Covered by an Award?

Some senior financial roles might fall under the Clerks – Private Sector Award or the Banking, Finance and Insurance Award, depending on duties. Those awards have classification structures with minimum rates that are higher than the national minimum. For example, a Level 6 classification in the Clerks Award may have a minimum rate above $26.44. Always check the award's classification definitions before assuming the role is award-free.

Practical Check: Comparing an Hourly Rate

If you have an hourly rate for a CFO role, compare it to $26.44. If the rate is below that, it is illegal unless a junior or introductory rate applies (which is unlikely for a CFO). If the rate is above, it meets the legal minimum. For a meaningful market comparison, look at industry reports or recruitment data, but this site does not provide those figures.

Summary

The legal minimum for an award-free CFO is $26.44 per hour plus 12% super. Actual salaries are far higher. Use the resources on this site to confirm the applicable award or the national minimum. For further reading, see Guides and How the figures work.