Employment Hero vs Wave
A head-to-head comparison to help you pick the right tool
Last updated: April 30, 2026
Employment Hero
Employment Hero is an all-in-one HR, payroll, and benefits platform with a strong presence in Australia and New Zealand. It offers a free HR plan alongside paid payroll and benefits modules, making it accessible for businesses at any stage. Employment Hero also operates a job marketplace called Swag for employees.
Wave
Wave is a free accounting and invoicing platform designed for small businesses, freelancers, and solopreneurs. It offers genuinely free accounting, invoicing, and receipt scanning with no subscription fee. Wave makes money through payment processing and payroll add-ons. It is one of the best free accounting tools available for very small businesses with simple needs.
Pros
- ✓Free HR plan available with core employee management features
- ✓Strong compliance tools for Australian and NZ employment law
- ✓All-in-one platform covering HR, payroll, and benefits
- ✓Employee benefits marketplace with discounts and perks
Cons
- ✗Payroll module costs extra and is best suited for AU/NZ companies
- ✗Limited support and compliance coverage outside Australia and New Zealand
- ✗Some users report the platform can feel complex to navigate
Pros
- ✓Genuinely free accounting and invoicing — no subscription required
- ✓Clean and easy to use interface
- ✓Good enough for most very small businesses and freelancers
- ✓Receipt scanning and bank connections included free
Cons
- ✗Limited features compared to paid alternatives
- ✗Customer support is minimal on the free plan
- ✗Not suitable for growing businesses with complex needs
- ✗Payroll and payment processing add-ons can add up in cost
Employment Hero vs Wave: Side by Side
| Factor | Employment Hero | Wave |
|---|---|---|
| User Rating | N/A | N/A |
| Category | HR Software | Accounting Software |
| Pricing Model | Freemium | Freemium |
| Starting Price | Free | Free |
| Best For | Australian and NZ businesses needing full HR suite | Solopreneurs and very small businesses wanting free accounting and invoicing software |
| Our Pick | — | — |
Employment Hero Features
- ✓HR management
- ✓payroll
- ✓benefits
- ✓recruitment
- ✓learning
- ✓employee engagement
Wave Features
- ✓Free accounting
- ✓invoicing
- ✓receipt scanning
- ✓bank connections
- ✓financial reporting
- ✓payments processing
- ✓payroll add-on
- ✓mobile app
Pricing Comparison
Our Take
Choose Employment Hero if australian and nz businesses needing full hr suite. Choose Wave if solopreneurs and very small businesses wanting free accounting and invoicing software.
Best For
Australian and NZ businesses needing full HR suite
Best For
Solopreneurs and very small businesses wanting free accounting and invoicing software
Also Consider
If neither Employment Hero nor Wave is the right fit, Justworks is worth evaluating.
Justworks
Small businesses wanting Fortune 500 benefits
From $59/employee/mo
Frequently Asked Questions
What is the difference between Employment Hero and Wave?
Employment Hero is best for australian and nz businesses needing full hr suite. Wave is best for solopreneurs and very small businesses wanting free accounting and invoicing software.
Which is better, Employment Hero or Wave?
Choose Employment Hero if australian and nz businesses needing full hr suite. Choose Wave if solopreneurs and very small businesses wanting free accounting and invoicing software.
How much does Employment Hero cost?
Employment Hero starts at Free. Pricing model: Freemium.
How much does Wave cost?
Wave starts at Free. Pricing model: Freemium.
Who should use Employment Hero?
Australian and NZ businesses needing full HR suite
Who should use Wave?
Solopreneurs and very small businesses wanting free accounting and invoicing software