Banking, Finance and Insurance Award pay rates 2026
Minimum rates for the Banking, Finance and Insurance Award (MA000019) from 1 July 2026: 6 classifications on 6 distinct hourly rates, with casual and junior rates.
This page sets out the published minimum pay rates under the Banking, Finance and Insurance Award. You will find the minimum rate for each classification level, along with casual rates and the penalty rates that apply to work outside ordinary hours, weekends and public holidays.
The Banking, Finance and Insurance Award covers the clerical and customer-facing workforce of the financial services sector. It applies to banks, credit unions and building societies, finance and lending companies, and insurance and general insurance businesses. The roles it covers include tellers and branch customer service officers, lending, credit and collections staff, insurance and claims officers, and the administrative and clerical employees who process transactions and support the front line. The classification levels rise with the complexity of the work and the degree of judgement and supervision involved, from routine processing through to experienced and specialised finance roles.
Pay rates by classification
| Classification | Hourly | Weekly | Annual | Casual/hr |
|---|---|---|---|---|
| Banking, finance and insurance employee level 1 | $26.97 | $1,024.70 | $53,284 | $33.71 |
| Banking, finance and insurance employee level 2 | $29.45 | $1,119.10 | $58,193 | $36.81 |
| Banking, finance and insurance employee level 3 | $31.11 | $1,182.10 | $61,469 | $38.89 |
| Banking, finance and insurance employee level 4 | $32.67 | $1,241.40 | $64,553 | $40.84 |
| Banking, finance and insurance employee level 5 | $33.99 | $1,291.80 | $67,174 | $42.49 |
| Banking, finance and insurance employee level 6 | $38.07 | $1,446.80 | $75,234 | $47.59 |
How the pay scale works
Adult rates in the Banking, Finance and Insurance Award run from $26.97 an hour (Banking, finance and insurance employee level 1) to $38.07 (Banking, finance and insurance employee level 6), a spread of $11.10 an hour or 41.2%, $422.10 a week full-time.
The award’s 6 classifications in this dataset share 6 distinct hourly rates.
A casual Banking, finance and insurance employee level 1 is paid $33.71 an hour, 25% above the full-time hourly rate, in place of paid leave.
What changed on 1 July 2026
For the entry classification, Banking, finance and insurance employee level 1:
The hourly rate rose $1.23 (4.8%) from $25.74 on 30 June 2026 to $26.97, and the full-time weekly rate rose $46.50.
Penalty rates
| Day | Banking | Median | Rank |
|---|---|---|---|
| Public holiday | 250% | 250% | 1 of 22 |
Every Banking, Finance and Insurance Award penalty rate, by classification
Compared with related awards
| Award | Entry classification | Hourly | Sunday |
|---|---|---|---|
| Clerks—Private Sector Award | Level 1 — Year 1 | $26.97 | 200% |
| Real Estate Industry Award | Real Estate Employee Level 1 (Associate Level) — first 12 months of employment at this level | $26.59 | — |
The Banking, Finance and Insurance Award entry rate is $0.38 an hour higher than the Real Estate Industry Award entry rate of $26.59.
Allowances
The pay database lists 3 wage-related allowances and 5 expense-related allowances for this award. All-purpose allowances count towards penalty rates, overtime and leave.
| Allowance | Amount | Paid | All-purpose |
|---|---|---|---|
| First aid allowance | $20.59 | per week | no |
| Stand-by and call-back allowance—Monday to Friday inclusive | $23.72 | per day | no |
| Stand-by and call-back allowance—Saturdays, Sundays and public holidays | $48.46 | per day | no |
| Meal allowance—Overtime of 1.5 hours which extends beyond 6.00 pm | $22.14 | per occasion | no |
| Meal allowance—Further meal allowance if overtime exceeds 5.5 hours | $18.20 | per occasion | no |
| Vehicle allowance—1500cc and under | $131.99 | per week | no |
| Vehicle allowance—Over 1500cc | $162.83 | per week | no |
| Casual or incidental use | $1.01 | per km | no |
Look up a rate
Rates current as of 1 July 2026. FWC pay database, Banking, Finance and Insurance Award 2020 (MA000019), checked (how). General information only: your award or enterprise agreement prevails if it differs.