Hiring finance staff costs substantially more than the advertised salary, and the gap between base pay and true employment cost catches many Australian business owners unprepared. A bookkeeper advertised at $65,000 actually costs your business $95,000 to $110,000 annually when you account for all mandatory and operational expenses.
Understanding loaded employment costs helps you budget accurately for finance hires, evaluate whether hiring internal staff makes sense versus embedded finance services, and avoid the surprise of discovering your $75,000 employee actually requires $105,000 to $120,000 in total investment.
This guide breaks down current market salaries for finance roles and the complete loaded cost of employing finance professionals in your Australian business during 2026.
Finance salaries vary significantly by role level, location, and industry, with Sydney commanding the highest rates and regional areas offering better value.
National average: Bookkeepers with 2 to 5 years experience earn $60,000 to $75,000 base salary according to SEEK January 2026 salary data. Entry-level positions start around $50,000 to $58,000 while experienced bookkeepers with 5-plus years can command $75,000 to $85,000.
Sydney premium: Sydney bookkeeper salaries run $85,000 to $100,000 for mid-level roles reflecting higher cost of living and competitive market. Senior bookkeepers managing teams or complex operations reach $95,000 to $110,000 base.
Melbourne and Brisbane: Bookkeeper salaries in Melbourne and Brisbane track slightly below Sydney at $70,000 to $90,000 for experienced roles.
Regional areas: Regional markets including Adelaide, Perth, Hobart, and regional centres show bookkeeper salaries of $55,000 to $70,000, offering cost savings for businesses with location flexibility.
Bookkeepers handle transaction recording, bank reconciliation, accounts payable and receivable, payroll processing, Business Activity Statement preparation, and month-end reporting. They're tactical finance roles focused on accurate record keeping and compliance rather than strategic analysis.
National average: Financial controllers with full responsibility for accounting operations, reporting, and business partnering earn $100,000 to $120,000 base salary for businesses with $5 million to $15 million revenue.
Sydney premium: Sydney financial controller roles pay $115,000 to $145,000 reflecting increased complexity and competition for qualified professionals.
Experience and qualification premiums: CPA or CA qualified financial controllers command $10,000 to $20,000 premium over non-qualified candidates. Controllers with 8-plus years experience in similar industries can negotiate $15,000 to $25,000 above base ranges.
Financial controllers manage accounting teams, oversee month-end close and reporting, coordinate budgeting and forecasting, ensure compliance and audit readiness, and provide financial analysis for business decisions. They're mid-level finance roles bridging tactical bookkeeping and strategic CFO functions.
National ranges: CFO salaries vary dramatically based on business size, complexity, and stage. According to ERI's 2026 Economic Research Institute salary data, Australian CFO salaries range from $210,000 to $533,000 base pay.
By business revenue:
Sydney and major markets: CFO roles in Sydney add 15 to 25 percent to these ranges. Regional markets discount 10 to 20 percent.
Industry premiums: Finance, technology, and professional services pay 20 to 30 percent premiums for CFOs with sector experience. Manufacturing, retail, and traditional services sit at the lower end of ranges.
CFOs own complete financial strategy, manage finance teams and functions, drive business strategy through financial leadership, oversee funding and capital structure, and serve on executive leadership teams. They're strategic roles requiring business acumen beyond pure finance expertise.
Every employee generates mandatory costs beyond base salary that add 24 to 30 percent to total compensation before any operational or hidden costs.
The superannuation guarantee remains at 12 percent of ordinary time earnings for the 2025-26 financial year. This applies to base salary but excludes overtime and some allowances.
For a $70,000 bookkeeper, superannuation adds $8,400 annually paid quarterly to the employee's nominated super fund. For a $120,000 financial controller, it's $14,400 annually. For a $180,000 CFO, it's $21,600 annually.
Superannuation is calculated on ordinary time earnings and paid quarterly by the 28th day following quarter end. Late payment triggers superannuation guarantee charge including interest and administrative components, so it's not optional or deferrable.
Annual leave, sick leave, and long service leave create ongoing liabilities that represent real costs even before employees take the leave.
Annual leave is four weeks per year representing 7.7 percent of annual salary. This accrues each pay period and must be paid out at termination if unused. Some businesses factor in annual leave loading of 17.5 percent when calculating true cost, though loading only applies when leave is actually taken.
Sick and personal leave is 10 days annually representing 3.8 percent of salary. Unlike annual leave, sick leave doesn't pay out at termination, but represents cost through workplace disruption and potential backfill requirements when taken.
Long service leave accrues at approximately 0.87 weeks per year of service after qualifying periods, representing approximately 1.7 percent of salary annually. This is a long-term liability that crystallises after employees pass vesting periods, typically 7 to 10 years depending on state.
Combined leave entitlements represent approximately 13.2 percent of salary in ongoing liability, though actual cash cost depends on utilisation patterns.
Workers compensation premiums vary by industry classification, state jurisdiction, and claims history. Office-based finance roles typically sit in lower-risk categories with premiums of 0.5 to 2 percent of wages according to SafeWork Australia 2026 benchmarking data.
A $70,000 bookkeeper incurs $350 to $1,400 in annual workers compensation premiums. A $180,000 CFO incurs $900 to $3,600. Actual rates depend on your specific industry code and claims history with your insurer.
Payroll tax creates a significant step-change in employment costs once your total Australian wages exceed state thresholds, adding 4.75 to 6.85 percent to all wages depending on your state.
New South Wales applies 5.45 percent payroll tax to all wages once you exceed $1.2 million annual threshold. Victoria applies 4.85 percent above $1 million threshold. Queensland applies 4.75 percent above $1.3 million threshold. South Australia applies 4.95 percent above $1.5 million threshold. Western Australia applies 5.5 percent above $1 million threshold. Tasmania applies 4.0 percent above $1.46 million threshold. Northern Territory applies 5.5 percent above $1.5 million threshold. Australian Capital Territory applies 6.85 percent above $2 million threshold.
For businesses below these thresholds, payroll tax doesn't apply. Once you cross the threshold, it applies to all wages, not just the excess, creating a cliff effect that can add $50,000 to $80,000 to annual employment costs at the threshold.
A business with 15 employees averaging $75,000 has total wages of $1.125 million and pays zero payroll tax in all states. Add one more employee bringing total wages to $1.2 million, and you suddenly owe $65,400 annually in NSW payroll tax (5.45 percent of $1.2 million) or $58,200 in Victoria (4.85 percent of $1.2 million).
This dramatically affects the true cost of hiring once you're near thresholds.
Getting the right person in place involves significant upfront investment before they deliver any productive work.
Using recruiters: Finance recruitment agencies typically charge 15 to 20 percent of first-year salary for permanent placements. For a $100,000 financial controller, that's $15,000 to $20,000 in recruitment fees. For a $180,000 CFO, it's $27,000 to $36,000.
Self-managed recruitment: Advertising on SEEK and LinkedIn, screening applications, conducting interviews, reference checking, and offer negotiation consumes 25 to 40 hours of senior staff time plus $800 to $2,000 in advertising costs. At $150 per hour for manager time, that's $4,550 to $8,000 total cost for self-managed recruitment.
Most businesses use recruiters for financial controller and CFO hires while managing bookkeeper recruitment internally, leading to typical recruitment costs of $15,000 to $25,000 per finance hire according to SEEK's 2026 recruitment cost research.
New finance employees need computer equipment, software licences, phone, and workspace setup before commencing.
Computer and peripherals: Business-grade laptop, dual monitors, keyboard, mouse, and docking station cost $3,000 to $4,500 depending on specifications.
Software licences: Finance professionals need accounting software access (Xero, MYOB, or similar), Microsoft Office, communication tools like Slack or Microsoft Teams, and potentially specialised software for their role. Annual software costs range from $600 to $1,200 per employee.
Phone and communication: Mobile phone or allowance plus setup costs $300 to $800 initially, then $50 to $100 monthly ongoing.
Workspace and furniture: If you don't have existing workspace available, desk, chair, and workspace setup adds $800 to $1,500 to equipment costs.
Total equipment and setup costs of $4,700 to $8,000 per hire, with annual software renewal costs of $600 to $1,200 ongoing.
Even experienced finance hires require significant onboarding to learn your systems, processes, customers, and operations.
Most finance professionals take 2 to 3 months to reach full productivity in a new role. During this period, they're receiving full salary but delivering perhaps 40 to 60 percent of expected output while learning.
Additionally, onboarding consumes manager and team member time through training sessions, process documentation review, introduction to stakeholders, and answering questions. Expect 40 to 80 hours of team time supporting a new finance hire during their first month.
This represents real cost even though it's not separately invoiced. A $100,000 employee at 50 percent productivity for 2 months costs you $16,700 in reduced output. Team time of 60 hours at $100 per hour is $6,000. Total onboarding productivity cost of approximately $22,700.
Finance employees require ongoing management, feedback, performance review, and problem-solving that consumes supervisor time continuously.
Research on management overhead suggests 3 to 6 hours monthly per employee for regular one-on-ones, performance management, issue resolution, and coordination. At $150 per hour for management time, that's $450 to $900 monthly or $5,400 to $10,800 annually per finance employee.
This often goes unaccounted because it doesn't appear as a separate expense line. Owners and managers simply spend this time as part of their regular week. However, it represents real opportunity cost that factors into the true employment cost.
Bringing all components together shows the gap between advertised salary and true employment cost.
Sydney bookkeeper base salary: $90,000 annually
Mandatory costs:
Setup and ongoing costs:
Year one total cost: $137,485
Ongoing annual cost: $127,285
Year one cost as percentage of base: 153 percent
Ongoing cost as percentage of base: 141 percent
Sydney financial controller base salary: $125,000 annually
Mandatory costs:
Setup and ongoing costs:
Year one total cost: $201,063
Ongoing annual cost: $172,563
Year one cost as percentage of base: 161 percent
Ongoing cost as percentage of base: 138 percent
Sydney CFO base salary: $190,000 annually
Mandatory costs:
Setup and ongoing costs:
Year one total cost: $296,335
Ongoing annual cost: $257,335
Year one cost as percentage of base: 156 percent
Ongoing cost as percentage of base: 135 percent
These examples assume businesses above payroll tax thresholds. Businesses below thresholds save 5.45 percent in NSW or equivalent in their state, reducing loaded costs by that amount.
Embedded finance services provide equivalent capability to internal finance staff but with different cost structures that often benefit businesses in the $2 million to $20 million revenue range.
For bookkeeper-equivalent capability: Embedded services cost approximately $2,000 to $3,500 monthly or $24,000 to $42,000 annually, delivering transaction processing, reconciliation, compliance support, and monthly reporting comparable to employing a $70,000 to $90,000 bookkeeper whose true cost is $105,000 to $130,000 loaded.
For financial controller-equivalent capability: Embedded services cost approximately $3,500 to $6,000 monthly or $42,000 to $72,000 annually, delivering management reporting, forecasting, budget tracking, and strategic support comparable to employing a $110,000 to $130,000 financial controller whose true cost is $165,000 to $195,000 loaded.
For CFO-equivalent capability: Fractional CFO arrangements cost approximately $5,000 to $12,000 monthly or $60,000 to $144,000 annually for 1 to 3 days weekly of senior strategic finance input, delivering capabilities comparable to a $180,000 to $240,000 full-time CFO whose loaded cost is $270,000 to $360,000.
The embedded model provides senior expertise, immediate availability, no recruitment or management overhead, no leave coverage issues, and scalability up or down based on business needs. The downside is less dedicated focus than an internal employee, dependency on external provider relationship, and potentially less intimate knowledge of day-to-day operations.
For many growing businesses, embedded finance delivers $180,000 to $220,000 worth of capability for $24,000 to $48,000 in actual cost, a compelling value proposition until you reach scale where internal staff economics improve.
Despite the high loaded costs, hiring internal finance staff eventually makes sense for most growing businesses.
Bookkeeper hiring threshold: Businesses with 100-plus transactions monthly, multiple bank accounts and entities, or payroll for 8-plus employees typically justify internal bookkeeper costs. This usually corresponds to $2.5 million to $4 million revenue, though complexity matters more than revenue.
Financial controller hiring threshold: Businesses needing daily finance input, managing complex operations across multiple streams, or preparing for significant growth typically hire controllers. This usually happens between $7 million and $12 million revenue.
CFO hiring threshold: Businesses with $15 million-plus revenue, those managing multiple entities or locations, or those pursuing growth capital or acquisition strategies typically hire full-time CFOs.
These aren't hard rules. A $5 million business with simple operations might operate successfully with embedded support, while a $4 million business with high complexity might justify internal staff earlier.
When evaluating whether to hire internal finance staff, compare total loaded costs to alternatives honestly.
Calculate the complete year-one and ongoing loaded costs using the components outlined in this guide. Compare that true cost to embedded finance services delivering equivalent capability. Factor in management overhead and the opportunity cost of your time managing internal staff. Consider whether you're willing to commit to employment long-term given the termination costs and difficulty of exit.
For most growing businesses, the break-even point where internal staff costs less than embedded services while delivering comparable quality is higher than instinct suggests. The advertised $75,000 salary looks affordable, but the $108,000 to $120,000 loaded cost with management overhead compares less favourably to $36,000 to $48,000 for embedded equivalent capability.
Make the decision based on complete cost information rather than advertised salaries, and recognise that the right answer changes as your business scales.
Are contractor bookkeepers or accountants cheaper than employees?
Contractors avoid super, leave entitlements, and payroll tax but charge higher hourly rates to cover these costs themselves plus profit margin. True contractor bookkeepers cost $50 to $80 per hour. At 30 hours weekly, that's $78,000 to $124,800 annually, comparable to employee loaded costs. Contractors make sense for part-time or project work, not full-time equivalents.
Can I hire offshore finance staff to reduce costs?
Offshore bookkeepers in Philippines or India cost $8 to $18 per hour for experienced professionals. However, you need to manage time zone coordination, Australian compliance expertise, and potentially language and cultural barriers. It works well for transaction processing support but less well for strategic roles requiring deep Australian business and compliance knowledge.
What if the employee doesn't work out and I need to terminate?
Termination costs include notice period salary (typically 2 to 4 weeks), unused annual leave payout, potential redundancy payments if applicable, and recruitment costs to replace them. Budget an additional $10,000 to $25,000 for unplanned termination costs. This risk is another advantage of embedded services with 30-day exit clauses.
How much should I pay for a part-time bookkeeper?
Part-time bookkeepers charge hourly rates or fixed monthly fees. Expect $35 to $55 per hour for experienced bookkeepers, or $600 to $1,500 monthly for packaged part-time services covering 8 to 20 hours monthly. This suits businesses with lower transaction volumes not yet justifying full-time staff.
Do these salary ranges apply to remote workers in regional areas?
Remote workers can be based anywhere but salary expectations often reflect where they're located. A Sydney-based remote worker expects Sydney salary. A Newcastle-based remote worker working for a Sydney company might accept regional salary but may also negotiate Sydney rates depending on market. Location matters less than it once did with widespread remote work.
Should I offer equity or bonus incentives to finance staff?
CFO-level roles in growth companies often include equity or profit share arrangements. Financial controllers occasionally receive performance bonuses. Bookkeepers rarely receive equity or bonuses beyond standard employment terms. Industry norms vary, so research your specific sector before designing compensation packages.
How often should I review and increase finance salaries?
Annual salary reviews are standard. Typical increases are 3 to 5 percent for inflation and satisfactory performance, 8 to 12 percent for exceptional performance or expanded responsibilities, and 15-plus percent for critical retention situations where market rates have increased substantially. Budget 4 to 6 percent annually for salary growth in your employment cost projections.
SEEK. (2026). January 2026 Salary Snapshot: Finance and Accounting Roles Australia.
Economic Research Institute. (2026). Australian Executive Compensation Survey: CFO and Senior Finance Roles.
SafeWork Australia. (2026). Workers Compensation Premium Benchmarking and Industry Classification Data.
Fair Work Ombudsman. (2026). Employment Costs Calculator and Leave Entitlements Guide.
Revenue NSW. (2026). Payroll Tax Rates, Thresholds and Calculation Guide.
Australian Taxation Office. (2026). Superannuation Guarantee Rates and Compliance Requirements.
CPA Australia. (2026). Finance Employment Benchmarking and Market Analysis.
Institute of Public Accountants. (2026). Small Business Finance Employment Trends Report.
Scale Suite delivers embedded finance and human resource services for ambitious Australian businesses.Our Sydney-based team integrates with your daily operations through a shared platform, working like part of your internal staff but with senior-level expertise. From complete bookkeeping to strategic CFO insights, we deliver better outcomes than a single hire - without the recruitment risk, training time, or full-time salary commitment.
Considering building an internal finance team?
We'll show you exactly what our three-tier model covers, how it compares to internal hires, and what it would cost for your business.
We'll reply within 24 hours to book your free 30-minute call.
No lock-in contracts and 30-day money-back guarantee.
Prefer to book directly? Schedule your free 30-minute call here
