Where an investment banker salary sits on the Australian salary index

What does an investment banker earn?

The median investment banker salary in Australia is $134,300 per year before tax, according to data from.au, which draws on Australian Bureau of Statistics earnings figures. That number is the base salary – bonuses are separate and can be substantial. To see where that sits against the national line, the Salary Index uses a simple calculation: divide the yearly gross by the national benchmark of $108,352 (the annualised full-time adult ordinary-time earnings from the ABS Average Weekly Earnings survey, May 2026) and multiply by 100. That gives an index of 124. In plain terms, the typical investment banker earns about 24% more than the average full-time worker.

But the index is only a starting point. Investment banking pay is heavily skewed by bonuses, which are tied to the deals your team closes and the firm’s performance. Two people on the same base salary can end the year with very different totals. Some bonuses are paid in cash, others in shares or deferred over several years. When you see an advertised salary, always ask whether it includes superannuation and what the team’s actual bonus pool has paid out recently.

Where the award minimums sit

The Banking, Finance and Insurance Award 2020, set by the Fair Work Ombudsman, covers employers in banking, lending, insurance, superannuation and related services. It has six classification levels, with minimum annual rates from $53,284 (Level 1) to $75,234 (Level 6) as of 1 July 2026. Those rates are far below the median investment banker salary. Most investment bankers are not covered by this award – they work under individual contracts or enterprise agreements that reflect market rates. The award is relevant for support staff, data processors, and call centre roles in the finance sector, but not for professionals advising on mergers, acquisitions or capital raising.

Bonuses and total compensation

The median base salary of $134,300 is just one part of the picture. CareerTips notes that bonuses make up a large slice of total pay. The bonus pool depends on the deals your team closes and how the firm’s year has gone. A strong year can double your base, while a quiet year might add only a modest amount. Some firms pay bonuses as cash upfront; others defer them over several years, and deferred amounts can shrink if you leave early. Always clarify the structure before accepting an offer.

How the index works for this role

The Salary Index compares gross ordinary-time earnings, not total compensation. Bonuses, overtime, and commissions are not included in the index calculation. That means an investment banker with a base salary of $134,300 and a bonus of $50,000 has a total package of $184,300, which would index at 170 – but the index only captures the base. The index is a benchmark for ordinary-time pay, not a measure of total reward.

Tax and super on an investment banker salary

Superannuation guarantee is 12% from 1 July 2026, up to a maximum contribution base of $270,830. On a $134,300 salary, the employer must contribute $16,116 into your super fund. That’s on top of the base salary. 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; and 45% above $190,000. Add the 2% Medicare levy. On $134,300, the estimated tax (including Medicare) is about $33,900, leaving a take-home of roughly $100,400. That’s before any HELP repayments, salary sacrifice, or the Medicare levy surcharge.

Where investment bankers sit by state and industry

The national index is 100, but state indexes vary. For example, New South Wales sits at 101.2, Victoria at 98, and Western Australia at 106.9. Investment bankers are concentrated in Sydney and Melbourne, where pay tends to be higher. The Professional, Scientific and Technical Services industry index is 114.7, which is close to the investment banker median of 124. That makes sense – investment banking falls within that broad industry category.

Outlook and career moves

Employment for investment bankers is projected to grow 12.7% over the decade to 2035, according to CareerTips. About 9,900 people work in the role nationally. The typical investment banker is 45 years old, 69% are men, and full-timers average 47 hours a week. Moving into a Finance Manager role typically brings the biggest pay rise, worth about $16,700 more per year. Private Equity Associate is another common step, with a median of $148,200.

Key takeaways

• The median investment banker salary of $134,300 indexes at 124, well above the national line.
• Bonuses are a major part of total pay and can push the index much higher.
• Award minimums do not apply to most investment bankers; they are on individual contracts.
• Superannuation at 12% adds $16,116 on top of the base salary.
• Tax on $134,300 leaves an estimated take-home of about $100,400 after Medicare.

For more context on how pay compares across roles and industries, see the Salary Index, explore how the index works, or browse industries like Professional Services. You can also check pay guides for other finance roles.