Banking, Finance and Insurance Award 2020 pay rates
These are the current minimum pay rates under the Banking, Finance and Insurance Award 2020 (MA000019), as published by the Fair Work Commission. They set the least an employer can pay someone the award covers. A contract or agreement can pay more, but not less.
Rates last updated 14 April 2026.
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Some of the roles this award may cover at the Banking, Finance and Insurance Award 2020. You can open any role to see its indicative rates.
Minimum pay rates
Full-time pay runs from $1,024.70 per week ($26.97 per hour) at the entry level up to $1,446.80 per week at the top, across 6 classifications. A few examples:
Classification
Weekly (full-time)
Per hour
Level 1Entry-level banking, finance and insurance employee working within established routines, methods and procedures that are predictable, exercising limited discretion. Duties inclu...
$1,024.70
$26.97
Level 2Employee performing tasks within defined limits and employer guidelines using a wider skill range than Level 1, responsible for their own work within established routines. Dutie...
$1,119.10
$29.45
Level 3Employee using a more extensive skill range than Level 2 with limited discretion in achieving task outcomes, accountable for their own work and may direct other staff. Duties in...
$1,182.10
$31.11
The rate for every classification, plus casual rates, is in the pay checker below.
What else it sets
Penalty rates for weekends, public holidays and overtime.
8 allowances (for example First aid allowance, Stand-by and call-back allowance - Monday to Friday, Stand-by and call-back allowance - Saturdays, Sundays and public holidays).
The exact penalty multipliers and allowance amounts are applied when you check your pay.
Wondering if your pay adds up?
If you share your hours and what you were paid, we can compare it against these rates, including penalties and overtime. It's free, takes a couple of minutes, and there's no account needed to start.
Rates are sourced from Fair Work Commission data and shown as a guide. They can change, and your circumstances may differ. Verify against your payslip and the official instrument before acting. For advice, contact the Fair Work Ombudsman on 13 13 94 or a registered employment lawyer.