The 2026 range
In technology and SaaS, analyst-level roles sit around $135k to $155k plus super. Project accountants in that band often function close to FP&A, handling project cost forecasting, ROI analysis and modelling future phases, with systems and Excel or Power BI as the core skills.[1] A dedicated financial analyst prices similarly, moving up as the role takes on more ownership of the forecast.
For context on either side: an accountant sits at $95k to $120k plus super,[2] and a finance manager at $140k to $170k plus super.[3] The analyst band overlaps both, which is why the title alone tells you very little about what you are buying.
| Level | 2026 range and what the role owns | |
|---|---|---|
| Accountant | $95k to $120k + super | Financial or management accounting: the ledger, reconciliations and the inputs analysis is built from. |
| Financial / Commercial Analyst | $135k to $155k + super | Budgets, forecasting, ROI and modelling. At the top of the band, embedded in tenders and bids rather than producing packs. |
| Finance Manager | $140k to $170k + super | Runs the day to day of a small function. The next step when the role needs to own more than the analysis. |
What a financial analyst actually does
The classic definition is a financial data specialist: detailed analysis of financial data including budgets and forecasting, preparing the FP&A reports that senior finance then adds commentary and recommendations to.[4] That division works in a large function where there is someone senior to hand the analysis to.
In a startup there is nobody to hand it to, which changes the hire. You are not buying report production, you are buying someone who can look at the output and say what it means. That is a different person, and the market prices them differently even under the same title.
The commercial analyst is a different animal
A commercial finance analyst acts as the conduit between finance and business operations, using financial data to identify opportunities for cost saving or revenue growth.[5] The real value is not pumping out reports or building spreadsheets nobody reads. It is being embedded in tenders, supporting bids, and giving the business information it can act on.[6]
Finance shows its commercial edge through analysts who can sit across engineering, sales and operations, then ask the right questions and pull together insights those teams could not assemble themselves.[7] If that is the job, say so in the brief, price at the top of the band, and interview for the questions they ask rather than the models they have built.
Why this level is worth getting right
The scarce capability across Australian finance is not technical. In our research, 60% of finance professionals identified strategic and commercial thinking as the most significant skill gap, outweighing technical accounting, data analytics and technology literacy combined.[8] At analyst level that gap is the whole difference between a useful hire and an expensive report generator.
It also matters more as tooling improves. Finance teams are getting leaner while expectations grow: if AI can generate reports, flag variances and draft commentary, leaders will choose smaller teams with stronger commercial influence.[9] The analyst whose value was production is the one most exposed to that shift.
If the role is really owning the forecast and the planning cycle rather than the analysis, that is FP&A, and I set out that band separately here.
When to hire one at all
An analyst is rarely the right first finance hire. If the close is not reliable and the data is not clean, an analyst spends their first months building the foundation rather than analysing anything, which is a controller's job at a controller's rate. Get the reporting working, then add the analysis on top of numbers you trust.
If the honest answer is that the reporting foundation does not exist yet, the first hire is usually a controller here.
Common questions
How much does a financial analyst earn in Australia?
Analyst-level roles in technology and SaaS sit at roughly $135k to $155k plus super. Project accountants in that band often function close to FP&A, covering project cost forecasting, ROI analysis and modelling future phases, with systems and Excel or Power BI as core skills. Where a role lands inside the band depends mostly on whether the analyst produces the numbers or influences the decisions made from them.
What is the difference between a financial analyst and a commercial analyst?
A financial analyst provides detailed analysis of financial data including budgets and forecasting, preparing reports that senior finance adds commentary to. A commercial analyst acts as the conduit between finance and business operations, embedded in tenders and bids, sitting across engineering, sales and operations to ask the questions those teams cannot answer themselves. The second is scarcer and prices at the top of the band.
Should a startup hire a financial analyst first?
Usually not. If the close is not reliable and the data is not clean, an analyst spends their first months building the reporting foundation rather than analysing anything, which is a controller's job at a controller's rate. Get the reporting working first, then add analysis on top of numbers you can trust.
Is AI reducing demand for financial analysts?
It is changing what the role is worth rather than removing it. Finance teams are getting leaner while expectations grow: if AI can generate reports, flag variances and draft commentary, leaders will choose smaller teams with stronger commercial influence. The analyst whose value was report production is the most exposed. The one embedded in decisions is the one worth more.
References
- Story Recruitment Technology / SaaS market data: Project Accountants earn $135-155k plus super and often function close to FP&A, covering project cost forecasting, ROI analysis and modelling future phases.
- Story Recruitment market data: accountant salaries, including Financial and Management Accountants, range from $95-120k plus superannuation.
- Story Recruitment market data: $140-170k plus super for a Finance Manager.
- Story Recruitment role definition: a Financial Analyst provides detailed analysis of financial data including budgets and forecasting, and prepares FP&A reports for senior finance to add commentary and recommendations.
- Story Recruitment role definition: a Commercial Finance Analyst acts as the conduit between finance and business operations, using financial data to identify opportunities for cost saving or revenue growth.
- Tom Hunter: the real value of a commercial analyst is not pumping out reports or building spreadsheets no one reads, but being embedded in tenders, supporting bids, and giving the business information it can act on.
- Tom Hunter: finance shows its commercial edge through analysts who can sit across engineering, sales and operations, then ask the right questions and pull together insights those teams could not assemble themselves.
- Story Recruitment research: 60% of finance professionals identified strategic and commercial thinking as the most significant skill gap in Australian finance.
- Tom Hunter's market prediction: finance teams will get leaner while expectations grow, with leaders opting for smaller teams with stronger commercial influence as AI absorbs reporting and commentary tasks.