Mortgage advisor salary: what the data shows against the national line

Mortgage advisor salary: what the data shows

When you search for a mortgage advisor salary in Australia, you quickly find two very different numbers. One comes from the Australian Bureau of Statistics via Jobs and Skills Australia, which reports median weekly earnings of $2,576 for Financial Brokers. That annualises to about $133,952 and gives a salary index of 123.6 – well above the national line of $108,352 (index 100). The other comes from crowd-sourced data on Indeed, showing an average base salary of $97,428 per year for mortgage brokers, which is below the national line at index 89.9.

Why the gap? The ABS figure is for the broader occupation group 'Financial Brokers' (ANZSCO 2221), which includes commodities traders, insurance brokers, and finance brokers. It is a median for full-time non-managerial employees paid at the adult rate. The Indeed figure is an average from self-reported salaries and job postings, and may include part-time or commission-only roles. Neither is wrong, but they measure different things.

Awards versus the national minimum wage

Mortgage advisors are not typically covered by a modern award. Many work as independent contractors or under enterprise agreements. The national minimum wage from 1 July 2026 is $26.44 per hour, $1,004.90 per week, annualised $52,255 (index 48.2). Even the lower salary estimate of $97,428 is nearly double that. However, if you are an employee covered by an award (for example, the Financial Services Award might apply to some loan processing roles), the minimum hourly rate is at least $25.74 for an adult. Junior rates are lower: for a 19-year-old, the national minimum wage is $21.81 per hour.

Commission is a big part of mortgage advisor pay. A base salary might be modest, but bonuses and commissions can push total earnings much higher. The Indeed data shows some companies pay up to $250,000 per year, but those are outliers. The median Financial Brokers figure of $2,576 per week suggests a stable, experienced workforce – the median age is 42, and 85% work full-time.

How the salary index works

The Salary Index compares your yearly gross earnings to the national line. If you earn $133,952, your index is 123.6 – meaning you earn 23.6% more than the typical full-time adult worker. If you earn $97,428, your index is 89.9. The national line is based on ABS Average Weekly Earnings for full-time adult ordinary-time earnings: $2,083.70 per week, annualised $108,352.

State differences matter too. A mortgage advisor in Western Australia (index 106.9) might earn more than one in Tasmania (index 88.6) due to local economic conditions. See our states page for more.

Super and tax

Superannuation guarantee is 12% from 1 July 2026, on earnings up to $270,830. So on a $97,428 salary, your employer adds $11,691 in super. On $133,952, super is $16,074. Tax for 2026–27 (resident, excluding Medicare) is: nil up to $18,200, 15% to $45,000, 30% to $135,000, 37% to $190,000, 45% above. Add 2% Medicare levy. Take-home on $97,428 is roughly $73,500 after tax and Medicare. On $133,952, take-home is about $96,000.

Where to find more

For award rates and minimum wages, check pay guides from the Fair Work Ombudsman. For industry comparisons, see our industries page. The Financial and Insurance Services industry has an index of around 114.7, above the national line.

The bottom line

A mortgage advisor salary in Australia is not a single number. The ABS data suggests experienced full-time brokers earn well above average, while crowd-sourced data points to a more modest average. If you are negotiating a role, ask about the base salary, commission structure, and whether you are covered by an award or enterprise agreement. Use the salary index to see where you sit against the national line.