Banking, finance and insurance employee level 1 pay rate 2026
Minimum rate for Banking, finance and insurance employee level 1 under the Banking, Finance and Insurance Award (MA000019) from 1 July 2026: $1,024.70 a week full-time, $53,284 a year (published annual salary). Casual: $33.71 an hour, loading included.
Minimum pay rates
| Employment type | Hourly | Weekly | Annual (published) |
|---|---|---|---|
| Full-time / part-time | $26.97 | $1,024.70 | $53,284 |
| Casual (loading included) | $33.71 | — | — |
How this rate compares
This is the lowest adult rate in the Banking, Finance and Insurance Award: rank 6 of 6 distinct hourly rates.
The next rate up is Banking, finance and insurance employee level 2 at $29.45 an hour, $2.48 (9.2%) higher than this classification.
It is $0.53 an hour (2%) above the national minimum wage of $26.44. That is within 5% of the legal floor for adult employees.
What changed on 1 July 2026
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
| When | Full-time / part-time | Casual |
|---|---|---|
| Ordinary hours | $26.97100% | $33.71125% |
| Public holiday | $67.43250% | $74.17275% |
Resulting hourly rates as published in the Fair Work Commission’s Modern Awards Pay Database. Casual figures include the casual loading. Percentages are of the minimum hourly rate.
Overtime rates
| Overtime | Full-time / part-time | Rate |
|---|---|---|
| Monday - Saturday - first 3 hours | $40.46 | 150% |
| Monday - Saturday - after 3 hours | $53.94 | 200% |
| Saturday - work outside employee's weekly hours | $53.94 | 200% |
| Sunday | $53.94 | 200% |
| Public holiday | $67.43 | 250% |
Junior rates
Employees under 21 in this classification are paid a percentage of the adult rate, from $13.48 an hour (50% of the adult rate) for under 17 years. How junior rates work.
| Age | Hourly | Weekly | % of adult |
|---|---|---|---|
| Under 17 years | $13.48 | $512.35 | 50% |
| 17 years | $16.18 | $614.82 | 60% |
| 18 years | $18.88 | $717.29 | 70% |
| 19 years | $21.57 | $819.76 | 80% |
| 20 years | $24.27 | $922.23 | 90% |
Weekly junior rates are published; hourly is weekly ÷ 38.
Rates current as of 1 July 2026. FWC pay database, MA000019, checked (how). General information only: your award or enterprise agreement prevails if it differs.