Financial Counselling Victoria, alongside national, state, and territory peak bodies, has made a joint submission to the Fair Work Commission in response to its 1 June 2026 decision on gender‑based undervaluation in the SCHADS Award.

The submission raises serious concerns about how the decision may affect the classification, pay, and recognition of financial counsellors. While the new framework includes mechanisms that could support translation of current Level 5 roles to higher classifications, it also creates uncertainty and a real risk that financial counselling work may be undervalued as entry‑level. The submission sets out the complex, specialist nature of financial counselling, including its legal, regulatory, advocacy, and counselling dimensions, and argues that this work warrants classification above minimum levels.

It also highlights the broader consequences for the sector, including workforce attraction and retention, funding pressures, and the long-term sustainability of services at a time of rising financial hardship. The peaks call for clear, evidence-based implementation of the classification framework, alignment with existing sector practice, and funding models that properly reflect the value of financial counselling work.