What is the current national minimum wage in Australia?

From 1 July 2026, the Fair Work Commission sets the national minimum wage is $26.44 per hour or $1,004.90 per week for adult employees not covered by an award or agreement. Casual employees get a 25% loading, making the casual rate is $33.05 per hour.

How does Matt Comyn's salary compare to the minimum wage?

The CEO's $9.1 million annual pay is far above the national minimum wage. For example, a worker at the national minimum earning $26.44 per hour for 38 hours a week would earn $1,004.90 per week. The CEO's weekly pay is about $175,000 per week, over 170 times the minimum. However, the two figures are not directly comparable because the CEO is a negotiated salary for a senior executive, not an ordinary time earnings.

Can an award or enterprise agreement set a higher rate than the national minimum?

Yes. Most employees are covered by a modern award or enterprise agreement, which can set higher minimum rates than the national minimum. The national minimum applies only to award-free and agreement-free employees. For example, the lowest ongoing classification in a modern award cannot be less than $26.44 per hour, but many awards have higher rates for specific roles.

Matt Comyn salary: How the CBA CEO's $9.1 million pay compares to Australia's minimum wage floor

The national minimum wage from 1 July 2026 is $26.44 per hour or $1,004.90 per week, while Commonwealth Bank CEO Matt Comyn's salary is reported to be $9.1 million annually.

Matt Comyn salary: understanding the pay floor

When readers search for matt comyn salary, they often want to know how a high-profile executive pay compares to the legal minimums that apply to most Australian workers. The Commonwealth Bank CEO's reported $9.1 million annual salary is a negotiated figure, not a minimum. This guide explains the different pay floors that apply across the workforce.

The national minimum wage

The Fair Work Commission sets the national minimum wage each year. From 1 July 2026, the national minimum wage is $26.44 per hour for a 38-hour week, or $1,004.90 per week. This is the base rate for adult employees who are award-free and agreement-free. Casual employees receive a 25% loading, making the casual rate $33.05 per hour. These rates are before tax. Employers also pay superannuation guarantee of 12% on top of ordinary time earnings.

Award rates and the backstop

Most employees are covered by a modern award that sets minimum rates for their industry or occupation. The Fair Work Ombudsman explains that award rates can be higher than the national minimum. From the first full pay period on or after 1 July 2026, modern award minimum wages rose by 4.75%, but the lowest ongoing classification cannot sit under the national minimum. Some awards have introductory rates for the first six months, which cannot be less than $25.74 per hour or $978.10 per week.

Junior, apprentice, and supported wages

Not every worker must receive $26.44 per hour. Award-free juniors have percentage rates based on age: for example, a 16-year-old gets $12.51 per hour (47.3% of the adult rate), and a 20-year-old gets $25.84 per hour (97.7%). Apprentices and trainees follow rates from the Miscellaneous Award. Employees with disability may have a supported wage based on productivity. These are all legal minimums, not averages.

Average earnings and the CEO salary

The Australian Bureau of Statistics (ABS) reports that in May 2026, full-time adult ordinary-time earnings were $2,083.70 per week. All employees average total earnings were $1,579.20 per week. These are survey averages, not minimums. The matt comyn salary of $9.1 million annual is far above both the minimum and the average. Dividing by 52 gives about $175,000 per week. That figure is not comparable to ordinary weekly earnings because it includes bonuses, long-term incentives, and other components. The AFR reported that his pay jumped to more than $9 million after rewards from previous years vested.

Which pay floor applies to you?

To find your correct minimum, use the Rate tables on this site or the Fair Work Ombudsman's Pay and Conditions Tool. If you are covered by an award or enterprise agreement, that document sets your minimum. The national minimum is only a backstop for those without coverage. For more on how these figures are calculated, see How the figures work.

Superannuation is on top

When discussing pay, remember that super guarantee is an employer payment on top of ordinary time earnings. For an employee on the national minimum, the employer must pay 12% super on top of ordinary time earnings. For the CEO, super is also paid on top of the salary, but the $9.1 million figure reported may or may not include super; the AFR article did not specify.

Conclusion

The matt comyn salary is a high-profile example of a negotiated executive pay, not a minimum. The legal minimums that apply to most workers are set by the Fair Work Commission and enforced by the Fair Work Ombudsman. Whether you are a junior, a casual, or a CEO, your pay floor is determined by your award, agreement, or the national minimum. Always check your specific situation.