Financial advisor salary: what to expect from job ads and how to compare offers
Understand the financial advisor salary in Australia using the Salary Index. Compare job ads, award rates, and median earnings from official sources.
The median full-time financial advisor salary sits at around index 124, well above the national line of 100, but award-covered roles can be much lower.
What does “financial advisor salary” mean in Australia?
When you search for a financial advisor salary, you’re usually looking at what a person who gives financial advice earns – whether they call themselves a financial planner, investment adviser, or wealth manager. The title isn’t regulated in the same way as “financial adviser” (which requires an ASIC licence), but in practice the roles overlap. Understanding the pay range helps you read job ads and compare offers with confidence.
Official data from Jobs and Skills Australia puts the median weekly earnings for full-time non-managerial Financial Investment Advisers and Managers at $2,582. That annualises to about $134,264 – a Salary Index of roughly 124. That means the typical financial advisor earns 24% more than the national line of 100 ($108,352). But that’s a median, not a starting point. Many roles pay less, especially if covered by an award.
Award rates: the floor for some financial advisors
The Banking, Finance and Insurance Award 2020 sets minimum pay for employees in banking, finance, and insurance. If you work for a bank or a company that provides services to that industry, you may be covered. The award has six levels. A financial planner with a degree and relevant experience might fall into Level 5 or 6:
- Level 5: $67,174 per year (index 62)
- Level 6: $75,234 per year (index 69.4)
These are minimums. Many employers pay above award, especially in metropolitan areas. But if you see a job ad quoting a salary around $70,000, it’s likely an award-based role. Check the classification and duties.
Fair Work Ombudsman explains that financial planners not covered by an industry award may fall under the Clerks Award, the Miscellaneous Award, or be award-free. Award-free employees are entitled only to the national minimum wage ($52,255 annual, index 48.2). That’s rare for a qualified advisor, but it happens in small firms.
Using the Salary Index to compare offers
The Salary Index is a simple way to compare pay across jobs, industries, and locations. It’s your annual gross salary divided by the national line ($108,352) times 100. An index of 100 means you earn the national average for full-time adult ordinary-time workers.
For example:
- A financial advisor earning $120,000 has an index of 111.
- One earning $150,000 has an index of 138.
- An award-level role at $75,234 has an index of 69.
You can also adjust for your state. The states page shows indices for each state and territory. For instance, Western Australia has an index of 106.9, so a $120,000 salary there is slightly below the state average. In Tasmania (index 88.6), the same salary is well above.
What about super and tax?
From 1 July 2026, the super guarantee is 12% on top of your salary. So a $120,000 salary means your employer pays $14,400 into super. That’s not included in the Salary Index, which uses ordinary-time earnings only.
For tax, the 2026–27 resident rates (excluding Medicare) are:
- Nil up to $18,200
- 15% from $18,201 to $45,000
- 30% from $45,001 to $135,000
- 37% from $135,001 to $190,000
- 45% above $190,000
Plus a 2% Medicare levy. A financial advisor on $134,264 would pay about $30,000 in tax plus Medicare. Take-home is roughly $104,000.
Reading job ads: what to look for
When you see a financial advisor salary in a job ad, check:
- Is it base salary or total package (including super)?
- Does it mention an award classification?
- What’s the location? Pay in Sydney (NSW index 101.2) is typically higher than in Hobart (TAS index 88.6).
- Is there a bonus or commission? Many advisors earn variable pay, which isn’t captured in the index.
Use the pay guides on Salary Index to see typical ranges for your experience level. The industries page shows that Professional, Scientific and Technical Services (which includes many advisory firms) has an index of 114.7 – above the national line.
The bottom line
The median financial advisor salary in Australia is around $134,264 (index 124), but award-covered roles start much lower. When comparing offers, convert each to the Salary Index to see how they stack up against the national line and your local market. Remember that super, bonuses, and location all affect your real take-home pay.
For more detail, read our topics on financial services pay or use the Salary Index calculator to compare any offer.
Questions people ask
What is the average financial advisor salary in Australia?
According to Jobs and Skills Australia, the median weekly earnings for full-time non-managerial Financial Investment Advisers and Managers is $2,582 (May 2025). That annualises to about $134,264, which sits at a Salary Index of 124 – well above the national line of 100. However, many financial advisors are covered by awards that pay less; the Banking, Finance and Insurance Award tops out at $75,234 annually (index 69.4).
How does the Banking, Finance and Insurance Award affect financial advisor pay?
If your employer operates in banking, finance or insurance, you may be covered by this award. It sets minimum annual salaries from $53,284 (Level 1) to $75,234 (Level 6). A financial planner working for a bank is likely covered, but one in a dedicated financial planning firm may not be. Check your duties and qualifications against the award classifications. If not covered, you may be award-free and entitled only to the national minimum wage ($52,255 annual, index 48.2).
How can I compare a financial advisor job offer using the Salary Index?
Take the annual salary (excluding super), divide by $108,352 (the national line for full-time adult ordinary-time earnings), and multiply by 100. For example, a $120,000 salary gives an index of 111. That tells you it's 11% above the national average. You can then compare offers across states or industries. Remember to add 12% super and consider your tax bracket. The index is a benchmark, not a personal quote.