Banking, Finance and Insurance Award 2025 Pay Rates (MA000019)
Plain-English Summary
Who does this award cover?
The Banking, Finance and Insurance Award covers employees working in the banking, finance, and insurance industries across Australia. This includes bank tellers, customer service officers, loan processors, insurance claims assessors, financial planners (who are not independently licensed), credit officers, collections staff, call centre workers in financial services, and administrative staff in banks, credit unions, building societies, and insurance companies.
The award does NOT cover employees who are covered by enterprise agreements (most of the big four banks have their own EAs), registered financial advisers operating their own practices, or employees covered by more specific awards. It also does not cover managers and professionals above the award classification structure.
How classification levels work
Classification levels run from Level 1 (entry-level -- basic counter service, data entry, mail sorting) through to Level 6 (senior roles involving team leadership, complex financial analysis, and specialist compliance work). Your level is determined by the actual work you perform, required qualifications, and level of autonomy and responsibility.
What about part-time and casual workers?
Part-time employees receive the same hourly rate as full-time employees, with entitlements on a pro-rata basis. Casual employees receive a 25% loading on the base hourly rate. Junior employees (under 21) receive a percentage of the adult rate based on their age.
Classification Levels and Base Rates
All rates effective 1 July 2025. Source: Fair Work Commission Annual Wage Review 2024-25.
| Level | Typical Duties | Weekly Rate | Hourly Rate | Casual Rate (incl. 25% loading) |
|---|---|---|---|---|
| Level 1 | Bank teller (entry), mail room, data entry, filing | $978.20 | $25.74 | $32.18 |
| Level 2 | Experienced teller, customer service officer, loans admin | $1,035.80 | $27.26 | $34.08 |
| Level 3 | Senior customer service, insurance assessor (entry), credit officer | $1,073.20 | $28.24 | $35.30 |
| Level 4 | Loan officer, experienced claims assessor, compliance officer | $1,127.00 | $29.66 | $37.08 |
| Level 5 | Senior analyst, team leader, branch supervisor | $1,173.40 | $30.88 | $38.60 |
| Level 6 | Branch manager (small), senior compliance, specialist underwriter | $1,230.00 | $32.37 | $40.46 |
Hourly rate = weekly rate / 38. Casual rate = hourly rate x 1.25.
Penalty Rates
All penalties are calculated on the base hourly rate.
Full-Time and Part-Time Employees (Non-Shiftworkers)
| When you work | Penalty | Level 2 example |
|---|---|---|
| Monday to Friday (ordinary hours) | Base rate (100%) | $27.26/hr |
| Saturday -- work outside weekly hours | 150% | $40.89/hr |
| Sunday | 200% | $54.52/hr |
| Public holiday | 250% | $68.15/hr |
| Overtime -- first 3 hours (Mon-Sat) | 150% | $40.89/hr |
| Overtime -- after 3 hours and all work outside weekly hours (Mon-Sat) | 200% | $54.52/hr |
Shiftworkers
| When you work | Penalty | Level 2 example |
|---|---|---|
| Ordinary hours | Base rate (100%) | $27.26/hr |
| Early morning shift | 110% | $29.99/hr |
| Afternoon shift | 115% | $31.35/hr |
| Night shift | 125% | $34.08/hr |
| Permanent afternoon shift | 120% | $32.71/hr |
| Permanent night shift | 130% | $35.44/hr |
| Saturday | 150% | $40.89/hr |
| Sunday | 200% | $54.52/hr |
| Public holiday | 250% | $68.15/hr |
| Overtime -- first 3 hours (Mon-Sat) | 150% | $40.89/hr |
| Overtime -- after 3 hours (Mon-Sat) | 200% | $54.52/hr |
Casual Employees
| When you work | Penalty (on base rate) | Level 2 example |
|---|---|---|
| Monday to Friday (ordinary hours) | 125% (casual loading) | $34.08/hr |
| Saturday | 175% | $47.71/hr |
| Sunday | 225% | $61.34/hr |
| Public holiday | 275% | $74.97/hr |
Frequently Asked Questions
1. What are the ordinary hours for banking employees?
Ordinary hours are a maximum of 38 per week, or an average of 38 per week over a roster cycle of up to 4 weeks. The standard span of hours is 7:00am to 7:00pm Monday to Friday. Many banks roster customer-facing staff within standard branch trading hours (typically 9:30am to 4:00pm), but back-office, call centre, and digital banking staff may be rostered across the full span.
2. Do bank call centre workers get shift penalties?
Yes. If you work in a banking or insurance call centre and are regularly rostered outside the standard 7:00am to 7:00pm bandwidth, you are classified as a shiftworker. Early morning shifts (starting before 7:00am) attract 110%, afternoon shifts attract 115%, and night shifts attract 125%. Permanent night shift workers receive 130% of the base rate.
3. Are junior bank employees paid less?
Yes. Employees under 21 years of age receive a percentage of the adult rate based on their age. The junior rates are: Under 16 -- 45%, 16 years -- 50%, 17 years -- 55%, 18 years -- 65%, 19 years -- 75%, 20 years -- 90% of the full adult rate. Once you turn 21, you are entitled to the full adult rate for your classification level.
4. What overtime rates apply for weekend work?
Saturday overtime is paid at 150% for the first 3 hours and 200% after that. Sunday overtime is paid at 200% for all hours. Public holiday overtime is paid at 250% for all hours. For part-time employees, overtime kicks in when you work in excess of your agreed hours per day or per week, or outside your agreed days.
5. What is the minimum engagement for casual banking staff?
Casual employees must be engaged for a minimum of 3 consecutive hours per shift. At Level 2 casual rate ($34.08/hr), the minimum payment for any casual shift is $102.24 gross. This applies to all casual engagements, whether in a branch, call centre, or back-office role.
Check Your Rate
Not sure if you are being paid correctly? Use our free pay rate calculator to check your exact rate based on your classification level, employment type, and shift pattern.
Enter your details and get an instant breakdown of what you should be earning -- including shift penalties, overtime, and casual loading. Every result cites the specific award clause so you can verify it yourself.
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Rates current as of 1 July 2025. Source: Fair Work Commission, CC BY 4.0. This information is general in nature and is not legal advice. Always verify rates against the Fair Work Ombudsman's Pay and Conditions Tool (PACT) at calculate.fairwork.gov.au.