The average Turkey salary is around 93,960 TRY per year. Some of the experienced employees can make up to 419,000 TRY Per year. The minimum salary in Turkey is around 23,800 per year.
Average Salary in Turkey in 2021:
|Less than 2 years||23,800 TRY|
|More than 2 years||93,960 TRY|
|More than 5 years||419,000 TRY|
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10 Highest-Paying Jobs in Turkey
|Highest-Paying Jobs||Average Annual Salary|
|Medical Practitioners (Pharmacists)||47,7528 TRY|
|Medical Practitioners (Doctors)||45,200 TRY|
|Law Officials (Judges and Lawyers)||37,900 TRY|
|Academics (professors/doctorates)||21,700 TRY|
|Aeronautical Engineers||18,100 TRY|
|Marketing Officers (Sales Heads)||16,300 TRY|
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At 44.9%, Turkey has one of the highest employment rates in the world. The job market is very competitive, especially in fields such as the medical industry and business administration. Accordingly, the average salary in Turkey matches the competitiveness of the career field.
The average minimum wage in Turkey is 3575 Turkish Lira (TRY) across the country. However, the average salary rate varies according to different factors.
What Is the Average Salary in Turkey?
Those entering the job market can expect an average salary of 7,830 TRY per month (93,960 TRY per year). However, the value can change, lowering or increasing based on an individual’s field. The lowest average salary is 1,980 TRY whereas 35,000 TRY is the highest average.
The overall cost of living in Turkey is 3,500 TRY per month. In larger cities, this number increases to 7,000 TRY, which is why the average salary in Turkey’s capital, Istanbul, is 9,160 TRY per month. People living in Istanbul earn 2,320 TRY at the minimum and 40,900 TRY at max.
It is worth noting that these values only apply to the general job market. People in the highest and lowest-paying fields have different average salaries.
When compared to all of Europe, Turkey has one of the lowest average salary rates. However, this is due to the difference in currencies. Almost all European countries use Euros, which are more expensive than Turkish Liras.
What Factors Affect the Average Salary in Turkey?
As mentioned, the average salary rate depends on a given career field. As such, having more knowledge and experience in desirable fields will increase a person’s average salary in Turkey.
Overall, employers place the most emphasis on experience levels in job searches. Therefore, people with more experience get better compensation packages. Beginners in any field tend to earn 32% less than people with even two or three years of experience.
Similarly, increased knowledge (higher education) is also a desirable trait, and is rewarded appropriately in the salary compensation. Higher salary averages belong to those with higher education.
For example, teaching English in Turkey is a well-paying job. However, the average income in Turkey for English teachers increases by 29% if they have a masters or PhD.
In Turkey, individuals studying in Masters or doctorate programs have an average salary range between 39,200 TRY and 117,000 TRY.
Who Has The Highest-Income in Turkey?
When compared to its neighbors, Turkey is not the richest country. However, it has a developed economy, which grows significantly every year. Those with the highest incomes in the country are heavily invested in economic growth.
Some of the highest-income people in Turkey include:
With a personal net worth of US$3.8 billion, Ilıcak is a highly successful businessman and investor. He owns Rönesans Holding, a company involved in investment, real estate, and energy. The group manages Renaissance Construction, which is the 9th largest construction company in Turkey.
Ilıcak founded the company in St. Petersburg, Russia. However, his headquarters are located in Turkey. He currently serves as president.
Next, Murat Ülker ranks second in terms of net worth and personal income. He manages Yıldız Holdings, which is the largest food manufacturer in Central and Eastern Europe. The company owns Godiva, the famous Belgian chocolatier brand.
Overall, his fortune amounts to US$3.7 billion approximately.
Thirdly, there is Hüsnü Özyeğin, who is involved in investment banking. Özyeğin founded QNB Finansbank, which is headquartered in Levent, Turkey. Currently, he manages the investment groups Fiba and Fina Holdings. He is involved in both financial and non-financial investments.
Including his investments and personal assets, Özyeğin is worth about $US2.1 billion.
Semahat Sevim Arsel
Lastly, Arsei is the richest woman in Turkey. She belongs to the Koç family, which owns Koç Holdings. She currently serves as a director in the company, primarily focused on the Istanbul Stock Exchange. The group is very extensive with over 113 companies under management.
Arsei is currently worth between US$1.8 billion and US$2.0 billion. Her stake in Koç Holdings is about 6.15%.
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To conclude, considering the average salary rates in Turkey, it is clear that the country has many opportunities for salary growth. If someone wants to learn how to earn money in Turkey, they must invest in higher education. Although this is costly, especially considering Turkey’s standard of living costs, the job market delivers higher returns on investments in education.