Banking, finance and insurance employee level 2 pay rate 2026
Minimum rate for Banking, finance and insurance employee level 2 under the Banking, Finance and Insurance Award (MA000019) from 1 July 2026: $1,119.10 a week full-time, $58,193 a year (published annual salary). Casual: $36.81 an hour, loading included.
Minimum pay rates
| Employment type | Hourly | Weekly | Annual (published) |
|---|---|---|---|
| Full-time / part-time | $29.45 | $1,119.10 | $58,193 |
| Casual (loading included) | $36.81 | — | — |
How this rate compares
It ranks 5th of 6 distinct adult hourly rates in the Banking, Finance and Insurance Award.
The next rate up is Banking, finance and insurance employee level 3 at $31.11 an hour, $1.66 (5.6%) higher than this classification.
The next rate down is Banking, finance and insurance employee level 1 at $26.97 an hour, $2.48 (8.4%) lower.
It is $3.01 an hour (11.4%) above the national minimum wage of $26.44.
What changed on 1 July 2026
The hourly rate rose $1.33 (4.7%) from $28.12 on 30 June 2026 to $29.45, and the full-time weekly rate rose $50.70.
Penalty rates
| When | Full-time / part-time | Casual |
|---|---|---|
| Ordinary hours | $29.45100% | $36.81125% |
| Public holiday | $73.63250% | $80.99275% |
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 | $44.18 | 150% |
| Monday - Saturday - after 3 hours | $58.90 | 200% |
| Saturday - work outside employee's weekly hours | $58.90 | 200% |
| Sunday | $58.90 | 200% |
| Public holiday | $73.63 | 250% |
Junior rates
Employees under 21 in this classification are paid a percentage of the adult rate, from $14.73 an hour (50% of the adult rate) for under 17 years. How junior rates work.
| Age | Hourly | Weekly | % of adult |
|---|---|---|---|
| Under 17 years | $14.73 | $559.55 | 50% |
| 17 years | $17.67 | $671.46 | 60% |
| 18 years | $20.62 | $783.37 | 70% |
| 19 years | $23.56 | $895.28 | 80% |
| 20 years | $26.51 | $1,007.19 | 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.