AU$59,173
Avg. Salary

Average additional compensation for this job:

Bonus

AU$10,113

Profit Sharing

AU$19,518

Commission

AU$19,653

A Mortgage Broker earns an average salary of AU$56,629 per year. For the first five to ten years in this position, pay increases steeply, but any additional experience does not have a big effect on pay. Most people with this job move on to other positions after 20 years in this field.

AU$40,324 - AU$96,206
AU$40K
AU$59K
AU$96K
MEDIAN: AU$59,173
10%
50%
90%
AU$17.98 - AU$41.43
AU$18
AU$24
AU$41
MEDIAN: AU$24.40
10%
50%
90%
AU$0AU$110K
Salary AU$40,324 - AU$96,206
Bonus AU$0.00 - AU$25,436
Profit Sharing AU$19.39 - AU$82,434
Commission AU$2,500 - AU$76,692
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
AU$41,206 - AU$110,527
  • Country: Australia
  • Currency: AUD
  • Updated: 14 Jul 2018
  • Individuals Reporting: 231
Hourly Data AU$0AU$41
Hourly Rate AU$17.98 - AU$41.43
Overtime AU$14.50
Annual Data AU$0AU$110K
Bonus AU$0.00 - AU$25,436
Commission AU$2,500 - AU$76,692
Profit Sharing AU$19.39 - AU$82,434
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
AU$41,206 - AU$110,527
  • Country: United States
  • Currency: AUD
  • Updated: 14 Jul 2018
  • Individuals Reporting: 21

Job Description for Mortgage Broker

A mortgage broker works as a go-between for people seeking a home loan and potential lenders. The broker typically has a list of lenders and their respective offerings and requirements; they then work with loan seekers to match them with the lender that best suits their needs. Mortgage brokers are typically paid a commission by the person signing the mortgage and a fee by the lending bank. Throughout the mortgage process, the broker helps facilitate communication between the bank and the borrower and works to ensure an expedient decision and signing process.

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Mortgage Broker Tasks

  • Interview and document credit, income, and financial history of clients.
  • Deploy marketing and sales strategies to attract new clients.
  • Mediate between the prospective homebuyer and the lending institution to underwrite and structure financial solutions.
  • Assess local mortgage market to find deals for client.
  • Apply for loans on behalf of borrower and collect documentation to pre-approve client.

Mortgage Broker Job Listings

Pay by Experience Level for Mortgage Broker

Pay by Experience for a Mortgage Broker has a positive trend. An entry-level Mortgage Broker with less than 5 years of experience can expect to earn an average total compensation of AU$54,000 based on 169 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Mortgage Broker with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of AU$74,000 based on 51 salaries. An experienced Mortgage Broker which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of AU$78,000 based on 62 salaries. A Mortgage Broker with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of AU$75,000 based on 15 salaries.

Pay Difference by Location

National Average: AU$61,825

Larger city markers indicate a job is popular in that location.

Related Job Salaries

Key Stats for Mortgage Broker

Gender

Female
52 %
Male
48 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 4 votes.
Less than 1 year
6%
1-4 years
53%
5-9 years
15%
10-19 years
20%
20 years or more
7%

Experience Affects Mortgage Broker Salaries

▲26%

▲21%

▲20%

National Average
AU$62,000

▼12%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 4 votes.

Gender

Female
52 %
Male
48 %

Years of Experience

Less than 1 year
6%
1-4 years
53%
5-9 years
15%
10-19 years
20%
20 years or more
7%

Common Health Benefits

medical benefits
Medical: 3%
dental benefits
Dental:
vision benefits
Vision: 1%
no benefits
None: 96%