Mortgage broker salary: what brokers earn in Australia

What does 'mortgage broker salary' mean?

When people search for a mortgage broker salary, they usually want to know how much a mortgage broker earns in Australia. But the answer isn't straightforward because most mortgage brokers don't receive a traditional salary. Instead, they earn commissions from lenders for arranging home loans. Some brokers are employed by a bank or brokerage and receive a base salary plus commissions, while others are self-employed and keep the commissions after costs.

This guide looks at the available data, explains how the Salary Index applies, and covers superannuation and tax implications.

What the data says

MFAA industry report (2017)

The Mortgage & Finance Association of Australia (MFAA) publishes an Industry Intelligence Service report. The fourth edition, based on data from March 2017, found that the national average gross annual earnings for mortgage brokers was $133,407. That figure includes both upfront commission (average $76,827) and trail commission (average $56,579). It's important to note that this is gross income before any business costs such as aggregator fees, office rent, marketing, and staff wages.

The report also broke down earnings by state. Brokers in NSW and the ACT earned the most on average ($144,273), while those in the Northern Territory earned the least ($90,599). Victoria averaged $127,307, Queensland $130,041, Western Australia $128,620, South Australia $123,206, and Tasmania $107,315.

Indeed Australia (2026)

Job search site Indeed reports an average base salary of $97,428 per year for mortgage brokers, based on 233 salaries submitted up to April 2026. This figure likely reflects employed brokers who receive a base wage, not self-employed commission-only brokers. Indeed also lists some high-paying companies: Lendi at $250,000 per year, followed by others at $188,261, $109,847, $89,069, and $67,500.

What Jobs Pay series

The What Jobs Pay and Job Markets Australia earnings series uses ABS Census and survey data to estimate average weekly full-time earnings by occupation. However, mortgage broker is not a separate occupation in the ABS classification, so no specific figure is available from that source.

How the Salary Index applies

The Salary Index compares a pay figure to the national benchmark of full-time adult ordinary-time earnings. As of May 2026, that benchmark is $108,352 per year (index 100).

Using the MFAA gross earnings figure of $133,407, the index would be 123. That means a broker earning that amount is about 23% above the national line. However, remember that $133,407 is before business costs – a self-employed broker's take-home pay after expenses could be much lower.

Using the Indeed base salary of $97,428, the index is 90. That's about 10% below the national line. But many employed brokers also earn commissions on top of their base, so total compensation could be higher.

For context, the national minimum wage (from 1 July 2026) is $52,255 per year, index 48. So even the lower end of broker earnings is well above the minimum.

Superannuation for mortgage brokers

From 1 July 2026, the superannuation guarantee is 12% of ordinary earnings, up to a maximum contribution base of $270,830.

• Employed brokers: Your employer must pay super on your base salary (and any commission treated as ordinary earnings). On a $97,428 salary, that's an extra $11,691 per year in super contributions.
• Self-employed brokers: You are responsible for your own super. You can make personal deductible contributions to reduce your taxable income.

Tax considerations

Mortgage broker income is taxed at the standard resident rates for 2026-27:

• $0 – $18,200: nil
• $18,201 – $45,000: 15%
• $45,001 – $135,000: 30%
• $135,001 – $190,000: 37%
• Above $190,000: 45%

Plus a 2% Medicare levy applies to most taxpayers.

Self-employed brokers can deduct business expenses such as aggregator fees, licensing fees, marketing, travel, and travel costs. These deductions can significantly reduce taxable income.

State and industry comparisons

Mortgage brokers operate across all states. The Salary Index shows state benchmarks:

• NSW: 101.2 ($109,658)
• VIC: 98 ($106,137)
• QLD: 97.9 ($106,064)
• SA: 94.6 ($102,450)
• WA: 106.9 ($115,825)
• TAS: 88.6 ($96,008)
• NT: 95.2 ($103,173)
• ACT: 109.9 ($119,090)

Broker earnings in NSW and ACT are above the national average, which aligns with the MFAA state data. The industry classification for mortgage brokers would typically fall under 'Financial and Insurance Services', which has an index of around 114.7, but this is a broad category.

Key takeaways

• Mortgage broker salary is not a fixed figure; it depends on commission structure, location, and experience.
• The most recent industry data (2017) shows average gross earnings of $133,407, but current figures may differ.
• Job site data suggests a base salary of around $97,428 for employed brokers.
• Superannuation and tax treatment vary depending on employment status.
• Use the Salary Index to compare any pay figure to the national line.

For more on pay in other roles, see pay guides or explore industries. If you're comparing across states, check states for local benchmarks. For related topics, visit topics.