In this article, we’ll cover the average salary in Turkey and how it differs in various aspects.
An excellent manufacturing hub with a well-educated, young, qualified labor force, Turkey is a popular outsourcing destination for many industries, like steel, textile, and IT. Jobs in Turkey will give you more opportunities than you think. Whether moving to Turkey or opening an office there, it’s important to understand Turkey's general wage information and economy.
Living with the average salary in Turkey is not difficult. However, the Turkish economy is developing day by day. This makes the country an opportunity for investment.
Median Salary in Turkey
The median salary is the middle value from all the collected salary amounts. In Turkey, the median salary is 9,830 TRY per month, which means that half (50%) of the population of Turkey are earning less than 9,830 TRY while the other half are earning more than 9,830 TRY.
If you are earning more than the median salary in Turkey, that's a good indicator that you are being paid well. But if you're not earning more than the median salary in Turkey, your aim should be to increase your earnings to be at least as high as the median salary.
Average Salary Range in Turkey
The average salary range shows a person’s possible maximum and minimum salary. Average monthly salary ranges in Turkey from 8,506 TRY (452 USD), the lowest average, to 357,705 TRY (18,800 USD), the highest average.
Actual amounts for a person’s highest salary can be greater than the highest average pay, while the minimum salary can be less than the lowest average pay.
Minimum Wage in Turkey
Minimum wages are defined as the minimum amount of remuneration that an employer is required to pay wage earners for the work performed during a given period, which cannot be reduced by a collective agreement or an individual contract. The minimum wage in Turkey is set and revised every year by the Turkish Ministry of Labor and Social Security. More than one-third of Turkey's 31 million-strong labor force is paid the minimum wage.
The Turkey government has announced a hike in minimum wages by 55% from Jan 2023. So the monthly minimum wage in Turkey is 8,506.80 TRY (455 USD)/month in 2023.
Salary by Experience Level in Turkey
The experience level is one of the most important factors in determining the salary. Naturally the more years of experience the higher the salary in Turkey.
We can say, employees, having experience from 2-5 years earn on average 32% more than freshers and juniors across all industries. Professionals with experience of more than 5 years tend to earn on average 36% more than those with 5 years or less of work experience. For those employees that have ten years or more experience, the average salary in Turkey increases by another 20% and then another 15% for those with 15 years of experience or more.
Change in salary based on experience in Turkey varies drastically from one location to another and depends hugely on the career field as well.
Salary by Education Level in Turkey
As well as experience in a job, your education plays a big role in how much your salary is in Turkey. A lot of higher-paying positions require a high level of education, but how much can a degree increase your salary in Turkey?
The salary you can earn based on your education is very specific to both your location and the job in Turkey you choose.
Usually, employees that have earned a certificate or diploma from a post-secondary program can expect to earn approximately 17% more than those who only completed high school level. If you have a bachelor's degree, you can earn approximately 25% more than those who only completed a certificate or diploma level. For professionals reaching the master's degree level, the salary would be around 30% higher than those with a bachelor's degree. Besides, if you are able to achieve a Ph.D., you can earn approximately 22% more than those with a master's degree for the same job in Turkey.
Average Annual Salary Increment Percentage in Turkey
How much is the annual salary rise in Turkey? How often does an employee get salary raises in Turkey? Salary increments will vary from person to person and depend on many factors, but usually, employees in Turkey are likely to observe a salary increase of approximately 8% every 12-18 months.
The term 'Annual Salary Increase' usually refers to the increase in 12 monthly periods, but because it is rare that people get their salaries reviewed exactly on the one-year mark, it is more meaningful to know the frequency and the rate at the time of the increase.
The annual salary increase in Turkey in 12 months can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency
Incentive Rates and Bonuses in Turkey
Another part of your overall compensation in the job is how much bonus you receive. Some jobs in Turkey will be more likely to pay a bonus than others and also more likely to have higher bonus rates.
Generally, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.
52% of employees in Turkey reported that they had received at least one bonus in the previous 12 months and 48% reported not receiving any bonuses in the previous 12 months.
Tolerance Homes with you
Turkey, with its wide job opportunities, is one of the countries that receive the most immigrants recently. Turkey has made a reasonable raise to the minimum wage in 2023. This positively affects the average salary in Turkey.
It is perfectly normal for you to want to move to Turkey or make an investment here. Buying a property in Turkey, which is full of unique beauties, will be both a nice home for you to live in and a profitable investment in the future. Tolerance Home will be pleased to find a home for you, according to your budget and all your wishes.
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