Average Mortgage Collector Salary in Australia for 2024

In this article, we will look at the average Mortgage Collector salary for 2024 in Australia and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the Australian dollar. To keep things simple, we are using the AUD currency code instead of the currency symbol $.

How Much Does a Mortgage Collector Make in Australia?

A Mortgage Collector working in Australia will typically earn around 35,300 AUD per year, and this can range from the lowest average salary of about 19,400 AUD to the highest average salary of 52,000 AUD.

Average Annual Salary
35,300 AUD
Average Monthly Salary
2,941 AUD

Lowest Annual Salary
19,400 AUD
Lowest Monthly Salary
1,616 AUD

Highest Annual Salary
52,000 AUD
Highest Monthly Salary
4,333 AUD

These are average salaries for a Mortgage Collector in Australia and include benefits such as housing and transport. It's also possible for a Mortgage Collector to earn more or less than the average salaries shown above.

Mortgage Collector salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Mortgage Collector Salaries in Australia

So we've looked at the average salaries a Mortgage Collector will earn in Australia. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Mortgage Collector can earn between 19,400 AUD and 52,000 AUD on average in Australia. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for a Mortgage Collector in Australia is 32,300 AUD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 32,300 AUD, and 50% of the population earn more than 32,300 AUD.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Mortgage Collector salary in Australia, 25% of the population are earning less than 23,700 AUD while 75% of the population earn more than 23,700 AUD.

75% of the population earn less than 38,900 AUD, and 25% of the population earn more than 38,900 AUD.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Mortgage Collector Salary by Experience Level in Australia

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average mortgage collector salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

  • 0 - 2 Years Experience. A Mortgage Collector in Australia that has less than two years of experience can expect to earn somewhere in the region of 20,000 AUD.
  • 2 - 5 Years Experience. With two to five years of experience the average Mortgage Collector salary would increase to 26,500 AUD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Mortgage Collector, the average salary would be 34,700 AUD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 42,800 AUD.
  • 15 - 20 Years Experience. A Mortgage Collector with 15 to 20 years of experience can earn an average of 47,500 AUD.
  • 20+ Years Experience. For a Mortgage Collector with more than 20 years, the expected average salary increases to 48,500 AUD.

Average Salary by Experience Chart

0-2 Years
20,000 AUD
2-5 Years +34%
26,500 AUD
5-10 Years +30%
34,700 AUD
10-15 Years +21%
42,800 AUD
15-20 Years +9%
47,500 AUD
20+ Years +5%
48,500 AUD

Mortgage Collector Salary by Education Level in Australia

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for a Mortgage Collector in Australia based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • High School. A Mortgage Collector in Australia with a high school education can earn an average salary of 23,300 AUD.

  • Certificate or Diploma. A Mortgage Collector in Australia with a certificate or diploma education can earn an average salary of 35,300 AUD.

  • Bachelor's Degree. A Mortgage Collector in Australia with a bachelor's degree education can earn an average salary of 45,800 AUD.

Average Salary by Education Chart

High School
23,300 AUD
Certificate or Diploma +43%
35,300 AUD
Bachelor's Degree +38%
45,800 AUD

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in Australia is around 37,800 to 114,000 AUD and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Mortgage Collector Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In Australia, a male mortgage collector will earn an average of 34,400 AUD, while a female mortgage collector will earn around 32,600 AUD.

This means that a male mortgage collector earns approximately 6% more than a female mortgage collector for performing the same job.

Average Salary by Gender Chart in Australia

Male
34,400 AUD
Female -6%
32,600 AUD

Mortgage Collector Average Pay Raise in Australia

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for a Mortgage Collector in Australia is around 11% every 14 months.

The national average pay raise across all professions and industries in Australia is around 8% every 16 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 11 ÷ 14 ) × 12  = 9%

What this means is that a Mortgage Collector in Australia can expect to receive an average pay raise of around 9% every 12 months.

Annual Pay Raise by Industry in Australia for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in Australia.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
4%
Energy
8%
Information Technology
3%
Healthcare
7%
Travel
2%
Construction
6%
Education
1%

Mortgage Collector Bonus and Incentive Rates in Australia

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

A Mortgage Collector is a low bonus based job, with 28% of employees reporting at least one bonus in the last 12 months.

72% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 1% to 3%.

Received Bonus
28%
No Bonus
72%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in Australia earn approximately 5% more than private sector employees in the same role.

Public Sector
92,500 AUD
Private Sector -5%
87,900 AUD

Salaries for Jobs Similar to a Mortgage Collector

In the table below, we have salary information for jobs that are similar to a Mortgage Collector in Australia.

Job Title Category Salary
AML Analyst Banking 150,100 AUD
Assistant Bank Branch Manager Banking 127,700 AUD
Assistant Bank Manager Banking 169,700 AUD
ATM Manager Banking 130,400 AUD
ATM Service Technician Banking 37,300 AUD
Bank Accounts Analyst Banking 54,100 AUD
Bank Accounts Collector Banking 33,600 AUD
Bank Accounts Controller Banking 71,000 AUD
Bank Accounts Executive Banking 107,300 AUD
Bank Accounts Manager Banking 123,800 AUD
Bank Auditing Manager Banking 119,700 AUD
Bank Branch Manager Banking 169,700 AUD
Bank Branch Operations Coordinator Banking 74,700 AUD
Bank Clerk Banking 32,600 AUD
Bank Client Service Associate Banking 44,500 AUD
Bank Collector Banking 32,600 AUD
Bank Compliance Specialist Banking 91,000 AUD
Bank Manager Banking 206,100 AUD
Bank Operational Risk Manager Banking 204,900 AUD
Bank Operations Head Banking 205,400 AUD
Bank Operations Officer Banking 74,200 AUD
Bank Operations Specialist Banking 117,100 AUD
Bank Process Manager Banking 107,700 AUD
Bank Product Manager Banking 130,400 AUD
Bank Programme Manager Banking 139,100 AUD
Bank Project Manager Banking 153,700 AUD
Bank Propositions Manager Banking 146,900 AUD
Bank Quantitative Analyst Banking 98,800 AUD
Bank Regional Manager Banking 195,500 AUD
Bank Regional Risk Officer Banking 107,700 AUD
Bank Relationship Manager Banking 147,900 AUD
Bank Relationship Officer Banking 64,200 AUD
Bank Teller Banking 35,300 AUD
Banker Banking 68,200 AUD
Banking Business Analyst Banking 105,200 AUD
Banking Business Development Officer Banking 61,800 AUD
Banking Business Planning Executive Banking 142,300 AUD
Banking Product Manager Banking 132,000 AUD
Banking Reference Data Manager Banking 109,000 AUD
Banking Risk Analyst Banking 100,700 AUD
Banking Technical Analyst Banking 55,700 AUD
Bankruptcy Coordinator Banking 69,700 AUD
Bill and Account Collector Banking 36,200 AUD
Budget Analyst Banking 107,300 AUD
Capital Risk Manager Banking 191,500 AUD
Cards Marketing Manager Banking 130,500 AUD
Cash Management Manager Banking 175,200 AUD
Check Processing Manager Banking 130,400 AUD
Commercial Vault Associate Banking 102,700 AUD
Corporate Banker Banking 72,700 AUD
Corporate Dealer Banking 109,700 AUD
Credit Analyst Banking 80,500 AUD
Credit and Collections Manager Banking 146,700 AUD
Credit Card Fraud Investigator Banking 103,600 AUD
Credit Portfolio Manager Banking 187,500 AUD
Credit Risk Analyst Banking 112,700 AUD
Credit Risk Associate Banking 109,000 AUD
Direct Bank Sales Representative Banking 69,700 AUD
Exchange Control Consultant Banking 114,600 AUD
Executive Account Analyst Banking 100,300 AUD
Financial Bank Planning Consultant Banking 137,100 AUD
Financial Banking Analysis Manager Banking 151,800 AUD
Financial Banking Assistant Banking 50,500 AUD
Financial Banking Systems Manager Banking 142,300 AUD
Foreign Exchange Manager Banking 153,700 AUD
Fraud Analyst Banking 109,700 AUD
Fraud Detection Associate Banking 78,100 AUD
Fraud Detection Manager Banking 158,900 AUD
Fraud Detection Supervisor Banking 87,500 AUD
Internal Bank Audit Manager Banking 183,600 AUD
Internal Bank Auditor Banking 98,900 AUD
Internal Private Banker Banking 75,900 AUD
International Banking Manager Banking 211,200 AUD
Investment Banking Analyst Banking 142,300 AUD
Loan Analyst Banking 103,600 AUD
Loan Area Manager Banking 125,400 AUD
Loan Audit Team Leader Banking 114,300 AUD
Loan Branch Manager Banking 114,300 AUD
Loan Business Development Officer Banking 62,600 AUD
Loan Clerk Banking 36,400 AUD
Loan Collection and Recovery Manager Banking 117,100 AUD
Loan Collection Manager Banking 130,500 AUD
Loan Collector Banking 32,900 AUD
Loan Examiner Banking 45,000 AUD
Loan Officer Banking 38,900 AUD
Loan Processing Manager Banking 108,200 AUD
Loan Processor Banking 48,600 AUD
Loan Quality Assurance Auditor Banking 107,300 AUD
Loan Quality Assurance Manager Banking 119,700 AUD
Loan Quality Assurance Representative Banking 80,000 AUD
Loan Review Manager Banking 112,700 AUD
Loan Team Leader Banking 100,700 AUD
Loans Manager Banking 140,700 AUD
Mortgage Advisor Banking 69,700 AUD
Mortgage Collection Manager Banking 121,800 AUD
Mortgage Credit Analyst Banking 55,200 AUD
Mortgage Credit Manager Banking 118,900 AUD
Mortgage Development Manager Banking 123,800 AUD
Mortgage Document Reviewer Banking 45,100 AUD
Mortgage Funding Manager Banking 128,400 AUD
Mortgage Operations Manager Banking 187,500 AUD
Mortgage Payment Processing Clerk Banking 38,100 AUD
Mortgage Processing Manager Banking 115,600 AUD
Mortgage Processor Banking 46,000 AUD
Mortgage Quality Assurance Auditor Banking 98,000 AUD
Mortgage Quality Assurance Manager Banking 114,900 AUD
Mortgage Servicing Clerk Banking 34,800 AUD
Mortgage Servicing Manager Banking 115,600 AUD
Mortgage Underwriter Banking 44,800 AUD
Online Banking Manager Banking 184,700 AUD
Payment Processing Clerk Banking 36,700 AUD
Personal Banker Banking 73,700 AUD
Personal Banking Advisor Banking 74,500 AUD
Phone Banker Banking 49,700 AUD
Private Banker Banking 79,600 AUD
Reconciliation and Investigation Specialist Banking 83,000 AUD
Tax Officer Banking 61,700 AUD
Teller Banking 33,000 AUD
Trade Officer Banking 41,700 AUD
Trade Product Manager Banking 115,600 AUD
Trader Banking 49,200 AUD
Treasury Operations Officer Banking 86,100 AUD

Salary Comparison by City

If you want to compare salaries with different cities in Australia, you can use the links below to explore the data for each specific city we have researched.

City Average Salary
Adelaide 34,000 AUD
Brisbane 35,400 AUD
Canberra-Queanbeyan 35,100 AUD
Gold Coast-Tweed 32,600 AUD
Gosford 29,600 AUD
Melbourne 34,400 AUD
Newcastle 34,000 AUD
Perth 37,200 AUD
Sunshine Coast 28,900 AUD
Sydney 36,800 AUD
Wollongong 29,600 AUD

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