Graduate accountant salary: which pay floor applies and what the data shows

Graduate accountant salary: understanding the pay floor

When you start your career as a graduate accountant in Australia, the question of which pay floor applies can be confusing. The term "graduate accountant salary" covers a range from the legal minimum up to negotiated offers, and it is important to separate the legal minimum from survey averages, award rates, and individually negotiated salaries.

The legal minimum for award-free graduate accountants

If you work for an accounting firm, the Fair Work Ombudsman states that accountants are not covered by an award. This means your minimum entitlement is the national minimum wage set by the Fair Work Commission. From 1 July 2026, the national minimum wage is $26.44 per hour or $1,004.90 per week for a full-time adult employee. If you are employed casually, the minimum casual rate is $33.05 per hour (including the 25% casual loading).

However, not every graduate accountant is award-free. If your employer operates in an industry covered by a modern award — such as the Banking, Finance and Insurance Award, the Black Coal Award, the Electrical Power Award, or the Rail Award — and your duties match the classifications in that award, then the award minimum rate applies. Award rates are generally higher than the national minimum wage. For example, the Banking, Finance and Insurance Award has specific classifications for accountants that are likely to pay above $26.44 per hour. Always check the relevant award or enterprise agreement, as it can set a higher rate.

Survey averages: what the ABS data shows

The Australian Bureau of Statistics (ABS) collects data on employee earnings and hours. For the occupation "Accountants" (ANZSCO 2211), the median full-time weekly earnings before tax is $2,003, and the median hourly earnings is $53 (ABS Survey of Employee Earnings and Hours, May 2025). This figure covers all full-time non-managerial accountants, not just graduates. A graduate accountant salary is typically lower than this median, often starting near the national minimum wage or the relevant award rate. The ABS data is a useful benchmark for understanding the broader market, but it is not a legal minimum or a guarantee of what you will be offered.

Award rates and enterprise agreements

If you are covered by a modern award, the minimum pay rates are set out in the award. The Fair Work Commission reviews these rates each year. From the first full pay period on or after 1 July 2026, modern award minimum wages rose by 4.75%, but the lowest ongoing classification cannot fall below the national minimum wage of $26.44 per hour. Some awards have introductory rates for new employees (limited to the first six months) that are lower — for example, $25.74 per hour or $978.10 per week. After the introductory period, you must move to the full classification rate.

Enterprise agreements can also set pay rates, and they must pass the better-off overall test compared to the relevant award. If you are covered by an enterprise agreement, your graduate accountant salary will be the rate specified in that agreement, which is often higher than the award rate.

Negotiated salaries and the role of super

Many graduate accountant salaries are negotiated individually, especially at larger firms. These negotiated salaries are typically above the legal minimum and may be above the award rate. When comparing offers, remember that the superannuation guarantee (currently 12% of ordinary time earnings) is paid by your employer on top of your salary. So a salary of $55,000 per year means your employer also contributes $6,600 to your super fund. Your take-home pay is the cash amount before tax, and super is an additional benefit.

Which minimum wage applies to you?

To determine your correct pay floor, start by checking if you are covered by a modern award. Use the Fair Work Ombudsman's Pay and Conditions Tool or consult the Which minimum wage applies guide on this site. If no award applies, the national minimum wage is your floor. If an award applies, the award rate is your minimum. An enterprise agreement can set a higher rate. For award-free juniors (under 21), the national minimum wage percentages apply — for example, a 21-year-old graduate receives the full adult rate, but a 20-year-old receives 97.7% ($25.84 per hour).

Key takeaways

• The legal minimum for award-free graduate accountants is $26.44 per hour (from 1 July 2026).
• Award-covered graduate accountants are entitled to the award rate, which is generally higher.
• The ABS median for all accountants is $2,003 per week, but graduate salaries are typically lower.
• Superannuation (12%) is paid on top of your salary.
• Always verify your coverage using the Rate tables on this site or the Fair Work Ombudsman.

Frequently asked questions

What is the minimum wage for a graduate accountant? If you work for an accounting firm, you are not covered by an award and must be paid at least the national minimum wage, which from 1 July 2026 is $26.44 per hour or $1,004.90 per week. If your employer is in an industry covered by an award (such as banking, finance, insurance, coal, or rail) and your duties match the award classifications, the award minimum rate applies and is likely higher. Always check the applicable award or enterprise agreement.

How does the ABS median salary for accountants compare to a graduate accountant salary? The ABS reports a median weekly earnings of $2,003 for all full-time non-managerial accountants (May 2025). This figure includes experienced accountants and is not specific to graduates. A graduate accountant salary is typically lower than this median, often starting around the national minimum wage or the relevant award rate. The median is a useful benchmark but not a legal minimum.

Does superannuation count as part of my graduate accountant salary? No. Superannuation guarantee contributions (currently 12% of ordinary time earnings) are paid by your employer on top of your salary. Your graduate accountant salary is the cash amount before tax; super is an additional payment into your super fund. When comparing offers, always consider the total remuneration package including super.

For the published floors, see the rate tables and how the figures work.