Finance manager salary: award coverage versus award-free rates

Finance manager salary: award coverage versus award-free rates

When researching a finance manager salary in Australia, the pay floor depends on whether the role is covered by a modern award, an enterprise agreement, or is award-free. This guide explains the legal minimums, how award coverage works, and what to consider when comparing a finance manager salary.

The legal minimum for award-free finance managers

For employees not covered by any award or registered agreement, the national minimum wage applies. From 1 July 2026, the national minimum wage is $26.44 per hour or $1,004.90 per week for a 38-hour week. Casual employees receive a 25% loading, making the minimum $33.05 per hour. These rates are set by the Fair Work Commission and enforced by the Fair Work Ombudsman. Superannuation guarantee of 12% is paid on top of ordinary time earnings. Note that junior rates, apprentice rates, and supported wage rates do not apply to a typical adult finance manager.

Award coverage for finance managers

Many finance managers may be covered by an award. The most relevant awards are:

• Clerks – Private Sector Award 2020 – if the role involves clerical or administrative finance duties (e.g., accounts payable, bookkeeping).
• Professional Employees Award 2020 – if the finance manager holds a university degree and performs professional work (e.g., financial analysis, auditing).

However, genuine managerial employees who have the authority to make decisions about hiring, fire, or control budgets are often award-free. The Fair Work Ombudsman provides guidance on who is award-free. If an award applies, the minimum rate for the correct classification level will be higher than the national minimum. The Fair Work Commission’s Modern Awards Pay Database contains the calculated minimum rates, allowances, overtime and penalty rates. Because award rates vary by classification, you must check the specific award classification to know the exact minimum. If an enterprise agreement applies, that agreement may set a higher rate.

Survey averages and negotiated salaries

No specific survey specifically for finance manager salary was found in the provided Fair Work Ombudsman or Fair Work Commission or ABS search results. The ABS average weekly earnings for full-time full-time adults in May 2026 is $2,083.70 per week for all employees. This is an average across all occupations, not just finance managers. Finance managers typically earn significantly more due to experience and responsibility. Negotiated salaries are common for award-free employees. For a true picture of a finance manager salary, you should consider industry surveys from professional bodies (e.g., CPA Australia, Chartered Accountants) or recruitment agencies. This site does not provide a specific figure.

Superannuation

Superannuation guarantee is 12% of ordinary time earnings, paid by the employer on top of the salary. For example, if the base salary is $100,000, the employer must also contribute $12,000 to super. This is separate from the salary figure and does not reduce the minimum wage obligation.

How to determine the correct pay floor

To find the correct pay floor for a finance manager:

1. Check if you are covered by a modern award. Use the Fair Work Ombudsman’s Pay and Conditions Tool.
2. If award-free, the national minimum wage applies.
3. If covered by an enterprise agreement, check that agreement.
4. For award-covered employees, the award rate is the minimum; you can negotiate higher.

For more details, see Which minimum wage applies and Rate tables.

This guide is for orientation only. It is not a pay determination or legal advice. Always consult the Fair Work Ombudsman or a workplace relations professional for your specific situation.

For the published floors, see the rate tables and how the figures work.