Reserve Bank of Australia Annual Report 2024-25

Corporate Commonwealth Entity · Commonwealth · Published 10 November 2025

Total expenses: $14.54 billion
Ongoing staff: 1,426

Official source

Transparency Portal data for this report (JSON)

transparency.gov.au

Published headline figures

Income statement extract

Total expenses: $14.54 billion (14,537,320 in $'000)
Employee benefits: $454.5 million (454,502 in $'000)
Suppliers: $608.4 million (608,391 in $'000)
Revenue from government: $0 (0 in $'000)
Own-source income: $25.53 billion (25,528,136 in $'000)

Income statement table on the Transparency Portal (JSON)

Staff

Ongoing staff: 1,426 people
Ongoing staff table on the Transparency Portal (JSON)

Staff numbers are headcounts as published in the all ongoing and all non-ongoing employee tables, not full-time equivalents.

Published disclosure tables 3

Information about remuneration for key management personnel40 rows · Unit: dollars; band averages are per person in the band

Source table on the Transparency Portal: Information about remuneration for key management personnel · Licence entity-copyright

Key management personnel remuneration is reported on an accrual basis for the period each person held the role, so part-year amounts are not annual salaries.

Name	Position	Base salary	Other benefits	Superannuation	Long service leave	Total
Michele Bullock	Governor	987,132	31,457	132,457	44,229	1,195,275
Andrew Hauser	Deputy Governor	836,746	0	30,021	12,946	879,714
Susan Woods	Chief Operating Officer	716,115	12,901	85,162	35,358	849,536
Michelle McPhee	Assistant Governor, Business Services	568,394	41,507	105,152	54,769	769,821
Sarah Hunter	Assistant Governor, Economic	554,156	41,507	89,653	9,055	694,370
Christopher Kent	Assistant Governor, Financial Markets	589,984	41,260	110,869	54,778	796,890
Bradley Jones	Assistant Governor, Financial System	577,080	41,507	67,815	31,155	717,556
Alison Watkins	Member – Reserve Bank Board	57,168	0	6,574	0	63,743
Alison Watkins	Chair – Reserve Bank Board Audit Committee	16,524	0	1,900	0	18,424
Ian Harper	Member – Reserve Bank Board	57,168	0	6,574	0	63,743
Carolyn Hewson	Member – Reserve Bank Board	57,168	0	6,574	0	63,743
Carolyn Hewson	Member – Reserve Bank Board Audit Committee	8,269	0	951	0	9,220
Steven Kennedy	Member – Reserve Bank Board	0	0	0	0	0
Iain Ross	Member – Reserve Bank Board	57,168	0	6,574	0	63,743
Elana Rubin	Member – Reserve Bank Board	63,743	0	0	0	63,743
Carol Schwartz	Member – Reserve Bank Board	57,168	0	6,574	0	63,743
Carol Schwartz	Deputy Chair – Governance Board	34,280	0	3,942	0	38,223
David Thodey	Member – Governance Board	30,744	0	3,536	0	34,280
David Thodey	Chair – Governance Board Audit and Risk Committee	7,616	0	876	0	8,492
Swati Dave	Member – Governance Board	30,744	0	3,536	0	34,280
Swati Dave	Member – Governance Board Audit and Risk Committee	3,811	0	438	0	4,249
Danny Gilbert	Member – Governance Board	30,744	0	3,536	0	34,280
Danny Gilbert	Member – Governance Board Audit and Risk Committee	3,811	0	438	0	4,249
Elena Rubin	Member – Governance Board	34,280	0	0	0	34,280
Elena Rubin	Member – Governance Board Audit and Risk Committee	4,249	0	0	0	4,249
Jennifer Westacott	Member – Governance Board	30,744	0	3,536	0	34,280
Marnie Baker	Member – Monetary Policy Board	30,744	0	3,536	0	34,280
Renee Fry-McKibbin	Member – Monetary Policy Board	30,744	0	3,536	0	34,280
Ian Harper	Member – Monetary Policy Board	30,744	0	3,536	0	34,280
Carolyn Hewson	Member – Monetary Policy Board	30,744	0	3,536	0	34,280
Steven Kennedy	Member – Monetary Policy Board	0	0	0	0	0
Iain Ross	Member – Monetary Policy Board	30,744	0	3,536	0	34,280
Alison Watkins	Member – Monetary Policy Board	30,744	0	3,536	0	34,280
Jenny Wilkinson	Member – Monetary Policy Board	0	0	0	0	0
Ross Buckley	Member – Payments System Board	67,460	0	7,758	0	75,218
Gina Cass-GottliebAs published: Gina Cass-Gottlieb(e)	Member – Payments System Board	0	0	0	0	0
Michelle Deaker	Member – Payments System Board	67,460	0	7,758	0	75,218
Scott Farrell	Member – Payments System Board	67,460	0	7,758	0	75,218
John Lonsdale	Member – Payments System Board	0	0	0	0	0
Deborah Ralston	Member – Payments System Board	67,460	0	7,758	0	75,218

Information about remuneration for senior executives17 rows · Unit: dollars; band averages are per person in the band

Source table on the Transparency Portal: Information about remuneration for senior executives · Licence entity-copyright

Senior executive and other highly paid staff rows are bands with a count and averages, not individuals. Never multiply or add averages across bands, bodies or years.

Pay band	People	Average base salary	Average other benefits	Average superannuation	Average long service leave	Average termination	Average total
0- 220000	14	39,829	8,660	6,639	9,897	0	65,024
270001 - 295000	2	240,010	23,901	33,783	1,298	0	287,041
295001 - 320000	1	242,435	20,084	37,430	2,543	0	302,493
345001 - 370000	6	258,933	39,005	47,162	13,910	0	359,009
370001 - 395000	4	297,223	39,030	47,640	7,726	0	381,861
395001 - 420000	10	292,440	38,433	52,235	24,270	0	407,378
420001 - 445000	4	319,421	39,638	56,476	18,104	0	433,640
445001 - 470000	8	344,834	40,482	55,534	15,441	0	456,291
470001 - 495000	4	371,132	39,619	60,084	13,867	0	484,702
495001 - 520000	3	367,762	39,657	66,695	32,465	0	506,580
520001 - 545000	3	402,102	41,525	60,281	29,938	0	533,846
545001 - 570000	2	415,562	39,619	70,120	33,151	0	558,453
570001 - 595000	3	314,457	29,052	43,550	28,232	163,812	579,103
595001 - 620000	2	451,504	38,276	61,446	59,692	0	610,918
670001 - 695000	2	305,024	35,802	49,294	14,514	274,796	679,430
895001 - 920000	1	390,353	416,984	70,265	26,838	0	904,440
1470001 - 1495000	1	262,929	1,158,803	48,040	11,701	0	1,481,473

Information about remuneration for other highly paid staff15 rows · Unit: dollars; band averages are per person in the band

Source table on the Transparency Portal: Information about remuneration for other highly paid staff · Licence entity-copyright

Senior executive and other highly paid staff rows are bands with a count and averages, not individuals. Never multiply or add averages across bands, bodies or years.

Pay band	People	Average base salary	Average other benefits	Average superannuation	Average long service leave	Average termination	Average total
260000 - 270000	32	204,744	14,583	33,737	11,327	0	Not stated
270001 - 295000	74	207,742	23,450	34,816	10,717	5,178	Not stated
295001 - 320000	37	226,023	23,000	37,825	11,774	8,463	Not stated
320001 - 345000	22	221,667	39,078	38,922	12,995	18,836	Not stated
345001 - 370000	12	244,268	21,190	41,802	17,160	28,898	Not stated
370001 - 395000	4	299,499	22,690	45,001	11,483	0	Not stated
395001 - 420000	2	127,675	138,853	21,867	6,203	103,336	Not stated
420001 - 445000	3	265,102	108,327	44,720	8,602	0	Not stated
445001 - 470000	1	151,970	272,833	25,084	5,132	0	Not stated
470001 - 495000	3	148,776	207,385	29,585	8,034	88,843	Not stated
545001 - 570000	1	249,901	236,464	51,839	12,909	0	Not stated
620001 - 645000	1	175,379	423,483	31,387	7,127	0	Not stated
645001 - 670000	1	188,624	426,165	33,738	11,154	0	Not stated
770001 - 795000	1	130,664	622,383	23,740	6,710	0	Not stated
870001 - 895000	1	186,159	638,744	34,965	15,828	0	Not stated