Mortgage advisor salary: which Australian pay floor applies and what people mix up

Mortgage advisor salary and the legal minimum

When people search for a mortgage advisor salary, they often want to know what they can expect to earn. This site focuses on the legal pay floor, not market averages. The national minimum wage is the lowest amount an employer can pay an adult award-free employee. From 1 July 2026, that rate is $26.44 per hour or $1,004.90 per week. Casual employees receive a 25% loading, making the casual rate $33.05 per hour. Superannuation of 12% is paid on top of ordinary time earnings.

Award coverage for mortgage advisors

Many mortgage advisors work in the finance industry and may be covered by a modern award, such as the Banking, Finance and Insurance Award 2020. If an award applies, the minimum rate in that award is the legal floor, and it cannot be lower than the national minimum wage. The Fair Work Ombudsman can help you determine which award covers your role. An enterprise agreement can also set a higher rate. Without an award or agreement, the national minimum wage is the fallback.

Survey averages vs the legal floor

The Australian Bureau of Statistics (ABS) reports that full-time adult ordinary-time earnings averaged $2,083.70 per week in May 2026. That figure includes all occupations, not just mortgage advisors. A survey average is not a legal requirement. Your actual salary may be higher or lower depending on experience, location, and employer. The only binding minimum is the national minimum wage or the applicable award rate.

Negotiated salary and enterprise agreements

Some mortgage advisors negotiate a salary above the minimum. If your employer has an enterprise agreement registered with the Fair Work Commission, that agreement sets the minimum rate for the role. The agreement rate must be higher than the relevant award rate. Always check your pay slip and compare it to the correct minimum.

Common confusions about mortgage advisor pay

People often mix up casual loading with penalty rates. Casual loading (25%) compensates for not receiving paid leave. Penalty rates apply for work on weekends or public holidays and are separate. Another confusion is junior rates. Award-free employees under 21 can be paid a percentage of the adult minimum, but if an award covers the role, the award’s junior rates apply. Apprentice and trainee rates follow the Miscellaneous Award, not the junior percentages.

How to check your pay floor

Start by identifying whether a modern award covers your job. The Fair Work Ombudsman’s website has tools for this. If no award applies, the national minimum wage is your floor. You can also check Which minimum wage applies for a general overview or visit Rate tables for current figures. Remember that your employer must pay at least the minimum, and super is an extra cost to them, not deducted from your wage.

FAQs

What is the minimum wage for a mortgage advisor in Australia? The national minimum wage is $26.44 per hour ($1,004.90 per week) from 1 July 2026. However, if a modern award (such as the Banking, Finance and Insurance Award) covers mortgage advisors, the award rate will apply and must be at least that amount. Check with the Fair Work Ombudsman to see if an award covers your role.

Do mortgage advisors get superannuation on top of their salary? Yes. Employers must pay the super guarantee of 12% on top of ordinary time earnings. This is separate from the hourly or weekly wage and is paid into a super fund.

Can a mortgage advisor be paid less than the national minimum wage? Generally no, but there are exceptions. Junior employees (under 21), apprentices, trainees, and employees on introductory award rates may be paid less. For award-free juniors, the rates range from $9.73 per hour (under 16) to $25.84 per hour (age 20). Always check the applicable award or agreement.

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