Hedge fund manager salary: awards versus the national minimum wage

What is a hedge fund manager salary in Australia?

When you search for a hedge fund manager salary in Australia, you quickly find that official data is scarce. Hedge fund managers are not covered by modern awards, and the Australian Bureau of Statistics does not publish a dedicated earnings figure for this niche role. Instead, we rely on a mix of public-sector advice, private salary surveys, and occupation-level profiles.

This article uses the lens of awards versus the national minimum wage to explain where the hedge fund manager salary sits. Because awards do not apply, the national minimum wage becomes the only legal floor. But as you will see, the actual pay is many times higher.

Awards and the national minimum wage

Most Australian employees are covered by a modern award or an enterprise agreement that sets minimum pay rates, penalties, and conditions. Hedge fund managers, however, are typically classified as managerial or professional staff and are excluded from award coverage. Their employment is governed by a common law contract.

The national minimum wage from 1 July 2026 is $26.44 per hour, or $1,004.90 per week, annualised to $52,255. That gives a Salary Index of 48.2 (where 100 equals full-time adult ordinary-time earnings of $108,352). For a hedge fund manager, even an entry-level salary is far above this floor.

What the data shows

A key public source is the Victorian Independent Remuneration Tribunal. In December 2024, the Tribunal advised the Victorian Funds Management Corporation that a total remuneration package (TRP) of up to $400,000 was appropriate for the Head of Hedge Funds. This role sits above the PESES-1 band maximum of $279,238, reflecting specialised skills and market conditions.

Private salary data from SalaryExpert estimates the average hedge fund manager salary in Australia at $198,110 per year, with an average bonus of $17,731. Entry-level (1–3 years) averages $137,069, and senior (8+ years) averages $247,020. These figures are gross, before tax and superannuation.

Jobs and Skills Australia profiles Financial Investment Managers (ANZSCO 222312) but does not publish median weekly earnings for this occupation. The profile notes that 81% work full-time, average full-time hours are 47 per week, and the median age is 45. The female share is 31%.

Putting it on the Salary Index

The Salary Index compares yearly gross pay to the national line of 100, which is $108,352 (full-time adult ordinary-time earnings, May 2026). Using the average estimate of $198,110, the index would be around 183. That is well above the professional, scientific and technical industry index of 114.7. The public-sector TRP of $400,000 would give an index of about 369.

By contrast, the national minimum wage sits at index 48.2. Even an entry-level hedge fund manager at $137,069 would have an index of 126.5. This shows how far the role sits from award-based pay.

State and industry context

Hedge fund managers are concentrated in financial services, which is heavily based in New South Wales and Victoria. The state indexes show NSW at 101.2 and Victoria at 98.0. But these are averages across all occupations. A hedge fund manager's pay is likely to be much higher than the state average, especially in Sydney and Melbourne.

For more on how pay varies by location, see our states page. To compare with other industries, visit industries.

Why awards don't apply

Awards set minimum wages for specific industries and occupations. Hedge fund management is not listed in any modern award. The Fair Work Ombudsman's pay guides do not include this role. Instead, pay is negotiated directly. The only statutory minimum is the national minimum wage, but in practice, market rates are many times higher.

This is common for senior investment roles. The Victorian Tribunal's advice explicitly notes that market conditions make it impossible to secure a suitable candidate within the standard remuneration band. That is a clear signal that the hedge fund manager salary is driven by supply and demand, not by award rates.

Tax and superannuation

A hedge fund manager earning $198,110 would pay income tax at the 37% marginal rate (plus 2% Medicare levy) on income above $190,000. The superannuation guarantee is 12% from 1 July 2026, up to the maximum contribution base of $270,830. So the employer would contribute $23,773.20 in super on that salary (assuming no salary sacrifice).

For a full breakdown of how the index works, see how the index works.

Conclusion

The hedge fund manager salary in Australia is not set by awards. It is determined by individual contracts and market forces. Public-sector advice points to a TRP up to $400,000, while private estimates average around $198,110. Both are many times the national minimum wage and well above the full-time adult ordinary-time earnings benchmark. If you are researching this role, remember that official data is limited, and actual pay can vary significantly based on experience, fund size, and location.

For more on related topics, browse our topics page.