Victorian Premier Jacinta Allan is about to rake in a hefty half-million-dollar salary, securing her position as Australia’s second-highest paid politician.

After a pay bump, the Victorian leader will pocket $512,972, trailing only Prime Minister Anthony Albanese’s $620,000 pay cheque.

The $14,941 pay rise comes after a decision by the Victorian Independent Remuneration Tribunal to increase MP salaries and allowances by 3 per cent on Monday.

Allan’s package includes an expense allowance of $64,475.

Deputy Premier Ben Carroll will soon be paid $236,662, while Opposition Leader Brad Battin will collect $409,107.

Backbench MPs in Victoria will have a base salary of $211.972.

The increase is slightly below the 3.5 per cent pay rise that takes effect for minimum-wage workers from Tuesday following the Fair Work Commission’s annual review.

Allan remains the highest paid state or territory leader, ahead of Queensland Premier David Crisafulli ($476,323) and NSW Premier Chris Minns ($416,440).

However, the wage for NSW MPs could rise in coming weeks as a two-year salary freeze comes to an end.

Minns could receive an additional $14,575, pushing his salary to roughly $431,015, if a proposed 3.5 per cent pay rise goes ahead.

Northern Territory Chief Minister Lia Finocchiaro is the lowest paid state or territory leader.

But things are looking up for the Country Liberal Party boss after her base salary jumped more than $16,000 to $350,000 at the start of 2025. At the same time the base pay for NT MPs went from $166,763 to $175,000, equating to an increase of almost 5 per cent.

The steep uptick followed politicians and public servants’ wages being frozen for several years under the former NT Labor government.

Tasmanian politicians will receive a $30,000 increase in their base salary after a determination by Tasmania’s Industrial Commission.

Premier Jeremy Rockliff – whose own salary will rise from $301,397 to $368,783 – had ruled out the 22 per cent pay rise for politicians on June 9. But it will go ahead from Tuesday anyway, as the Tasmanian parliament was dissolved before any move to disallow it could be made.

Rockliff has pledged to overturn the increase if his Liberal government is re-elected on July 19.

The pay cheques of Australian politicians compare fairly well to the rest of the world.

In comparison, US President Donald Trump reportedly earns US$400,000 (about $A617,000). British PM Keir Starmer earns £172,153 ($A360,302) while Canadian PM Mark Carney pockets $C406,200 (($454,046).

Singaporean Prime Minister Lawrence Wong remains the world’s highest-paid government leader, reportedly collecting S$2.2 million ($A2.5 million) last year.

What state and territory leaders are paid:

Jacinta Allan (Victoria) $512,972
David Crisafulli (Queensland) $476,323
Chris Minns (NSW) $416,440
Peter Malinauskas (South Australia) reportedly about $450,000
Andrew Barr (ACT) $404,406
Roger Cook (Western Australia) $406,324
Jeremy Rockliff (Tasmania) $368,784
Lia Finocchiaro (NT) $350,000

-AAP