Graduate accountant salary: awards versus the national minimum wage

What does "graduate accountant salary" mean?

When people search for a graduate accountant salary, they usually want to know what a newly qualified accountant can expect to earn in Australia. The answer isn't a single number because pay depends on whether you're covered by a modern award, an enterprise agreement, or a market-rate contract. This guide uses the angle of awards versus the national minimum wage to explain where a graduate accountant salary sits against the national line.

Awards versus the national minimum wage

Australia's pay system starts with the National Minimum Wage. As of 1 July 2026, that is $26.44 per hour or $1,004.90 per week, according to the Fair Work Ombudsman. That works out to $52,255 a year – a salary index of 48.2 when compared to the national line of 100 ($108,352).

But most employees, including graduate accountants, are covered by a modern award. The relevant award for accountants is the Professional Employees Award 2020. The Fair Work Commission publishes a Modern Awards Pay Database that contains the minimum rates for each classification. For a graduate accountant, the award rate is higher than the national minimum wage. The database shows that award minima rose by 4.75% from 1 July 2026, but the exact dollar figure for a graduate classification is not published as a simple headline.

How the salary index helps

The Salary Index compares any gross annual salary to the national line of 100. The national line is set at full-time adult ordinary-time earnings: $1,083.52 per week, annualised to $108,352 (ABS Average Weekly Earnings, May 2026). If a graduate accountant earns, say, $65,000 a year, the index is 60.0. If they earn $80,000, the index is 73.8. The national minimum wage sits at 48.2.

What the data says about accountant pay

Jobs and Skills Australia reports that the median full-time accountant earns $2,003 per week before tax. That annualises to about $104,156, giving a salary index of 96.1 – just below the national line. But this figure covers all accountants, not just graduates. The median hourly earnings are $53, which is double the national minimum wage.

For a graduate, the pay is lower. The Professional, Scientific and Technical Services industry, where many accountants work, has an industry index of 114.7 – above the national line. But entry-level roles typically start below that. The Fair Work Ombudsman notes that some awards have introductory pay rates that are less than the National Minimum Wage, but these usually apply only for a limited time. For graduate accountants, the award rate is likely to be above the minimum.

Practical example

Imagine a graduate accountant working in Sydney under the Professional Employees Award. The award sets a minimum hourly rate for a Level 1 employee. If that rate is, say, $30 per hour (a plausible figure, though not confirmed by public data), then a 38-hour week gives $1,140, or $59,280 a year. That's an index of 54.7 – still above the national minimum wage index of 48.2. Many employers pay above the award, so actual graduate salaries are often higher.

What about super and tax?

Superannuation guarantee is 12% from 1 July 2026, on top of the gross salary. So a $60,000 salary includes $7,200 in super. Tax for a resident in 2026–27 (excluding Medicare) is: nil up to $18,200, 15% to $45,000, 30% to $135,000. Add the 2% Medicare levy. A graduate on $60,000 would pay about $7,867 in tax and Medicare, leaving a take-home of about $52,133.

Where to find more

For award-specific pay rates, use the pay guides on the Fair Work Ombudsman website. You can also compare pay across states – for example, New South Wales has an index of 101.2, while Tasmania is 88.6. The industries page shows that professional services pay above the national average.

The bottom line

A graduate accountant salary is not a fixed number, but it is always above the national minimum wage. The award sets a floor, and the market often lifts it higher. Using the salary index, a typical graduate might sit between 55 and 80, depending on location, employer, and experience. The national line of 100 is a useful benchmark: if you earn less than that, you're below the average full-time worker; if you earn more, you're above.

Key takeaways

• The National Minimum Wage is $26.44/hr (index 48.2).
• The median accountant earns $2,003/week (index ~96).
• Graduate accountant salaries are set by the Professional Employees Award, which pays more than the minimum.
• The salary index helps you see where any pay figure sits against the national average.

For the most accurate figure, check the relevant award classification or your employment contract. The Salary Index is a tool to compare, not a quote for a specific job.