Matt Comyn salary: how the CBA boss's $9.1 million pay compares to the national line

Reading a job ad and comparing offers: the Matt Comyn salary example

When you see a salary figure in a job advertisement, it helps to have a benchmark. The Salary Index uses the national line of full-time adult ordinary-time earnings – currently $2,083.70 per week, annualised to $108,352 – as 100 points. Every other gross annual salary can be compared to that line. The higher the index, the further above the average the pay sits.

Take the reported matt comyn salary of more than $9 million. That figure, from the Australian Financial Review, includes base pay, cash bonus, and long-term incentives that vested during the year. On the Salary Index, $9.1 million gives an index of about 8,400 – meaning Comyn earns roughly 84 times the typical full-time adult. That is an extreme outlier, but it shows how the index works for any pay level.

How to use the index when reading a job ad

If you are comparing job offers, you can convert any annual salary to an index number. For example, a $150,000 role gives an index of 138 – about 38% above the national line. A $70,000 role gives an index of 65 – below the average. The index lets you see at a glance where a salary sits relative to the broader workforce. You can also compare across industries and states using the same benchmark.

What the Matt Comyn salary tells us about executive pay

Comyn's pay package is not typical. The Sydney Morning Herald reported that in the previous year he received $7 million, with fixed pay and cash bonus increasing but deferred awards reducing. The jump to $9.1 million reflects the vesting of earlier performance rights. This highlights a key point: executive salaries often include variable components that can swing year to year. When reading a job ad for a CEO or senior executive, look for the breakdown between base salary, short-term incentive, and long-term incentive. The total remuneration figure may not be guaranteed.

Comparing CEO pay to award wages

At the other end of the scale, the national minimum wage from 1 July 2026 is $26.44 per hour, or $1,004.90 per week – an index of 48.2. Modern award minimums rose by 4.75% from that date. For example, an entry-level award classification might pay $25.74 per hour. The gap between the lowest award rates and CEO pay is enormous, but both are set by different mechanisms. Award rates are determined by the Fair Work Commission after consultation with unions and employer groups. CEO pay is set by company boards, often with reference to market benchmarks and performance targets.

The role of superannuation and tax

Superannuation guarantee is 12% from 1 July 2026, with a maximum contribution base of $270,830. For most employees, super is paid on top of the salary shown in a job ad. For executives, super may be included in the total remuneration package. Tax rates for 2026–27 are progressive: nil up to $18,200, then 15% to $45,000, 30% to $135,000, 37% to $190,000, and 45% above that, plus a 2% Medicare levy. A $9.1 million salary would face the top marginal rate on almost all of it, but executive pay is often structured to minimise tax through salary sacrifice and equity arrangements.

How the Salary Index helps you negotiate

If you are reading a job ad and wondering whether the offer is fair, the Salary Index gives you a neutral reference point. You can look up the average for your industry – for example, Mining has an index of 154.7, while Retail trade is 75.9. You can also check your state – Western Australia is 106.9, Tasmania is 88.6. If the offer is below the industry or state average, you have a data point to discuss. The index is based on gross ordinary-time earnings, so it does not include overtime, bonuses, or casual loading. For casual roles, the hourly rate often includes a 25% loading – for example, $33.05 per hour on the national minimum wage.

Understanding the limits of the index

The Salary Index is a benchmark, not a quote for a specific job. It uses the ABS Average Weekly Earnings survey, which measures average earnings across all full-time adults. Individual salaries can vary widely based on experience, location, and employer. The index is most useful for comparing broad pay levels, not for setting exact pay rates. For award-covered employees, the relevant modern award sets minimum pay rates that may be higher than the national minimum wage. The index can still help you see where an award rate sits relative to the national line.

What the Matt Comyn salary example teaches us

Comyn's pay is a reminder that the top end of the salary distribution is far above the average. The Salary Index makes that gap visible. When you see a job ad with a high salary, you can quickly calculate its index and compare it to the national line. For most roles, the index will be between 50 and 150. Anything above 200 is unusual. Comyn's index of 8,400 is in a league of its own. But the same calculation works for any salary: divide by $108,352 and multiply by 100. That gives you a number you can use to compare offers across industries, states, and even over time.

Further reading

To learn more about how the index is calculated, see how the index works. For a breakdown of pay by industry, visit industries. For state-by-state comparisons, see states. If you are looking at award rates, the pay guides section has details on modern award minimums.