Each year the Fair Work Commission (FWC) reviews and sets the National Minimum Wage (NMW) and minimum wages under modern awards. Our article provides an update on the Annual Wage Review 2023-24 (AWR 2024). At this stage, it is expected the FWC will issue its decision regarding the AWR 2024 in early to mid-June.

The information in this update is current as at 16 May 2024.

Annual Wage Review 2023-24 Update

Each year the FWC reviews and sets the NMW and minimum wages under modern awards during their AWR process.

What will the minimum wage increase be?

The FWC has not yet decided what increase there will be to minimum rates of pay. Once the FWC issues their decision, another update will be released.

Will there be an increase to superannuation?

From 1 July 2024, the superannuation guarantee will increase to 11.5%.