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Basic Economic Summary


Turkey’s upper-middle-income income status is attributed to its ongoing economic and social development since the 2000s. They are considered as one of the world’s newly industrialized countries and rank as the 20th largest nominal GDP in the world. This has led to many employment opportunities for their workers and has generated more income for the country. 

Turkey is also known for its remarkable response to the influx of refugees in their country. They have managed to set up camps and accommodation for Syrian refugees and have been a model for other European countries.

Basic Information

  • Local Languages: Turkish, Kurdish, Arabic, Zazaki
  • Capital: Ankara
  • Currency: Turkish Lira
  • Population: 85.62 million
  • Date Format: dd/mm/yyyy

Useful Information

Local Universities

Top Local Universities

University Rankings
Anadolu Üniversitesi Ranking in Turkey: 1, World Ranking: 250
Istanbul Üniversitesi Ranking in Turkey: 2, World Ranking: 380
Orta Dogu Teknik Üniversitesi Ranking in Turkey: 3, World Ranking: 507
Bogaziçi Üniversitesi Ranking in Turkey: 4, World Ranking: 596
Istanbul Teknik Üniversitesi Ranking in Turkey: 5, World Ranking: 673

Salary Data

Average Salary of Jobs (Per Month)

The table below shows the average salaries of some jobs in Turkey. Please refer to SalaryExplorer for more information.

Job Title Average Salary Range (TRY) Average Salary Range (USD)
Surgeons/Doctors 6,760 - 31,100 617.72 - 2,841.87
Judges 10,900 - 35,500 996.03 - 3,243.94
Lawyers 7,470 - 24,400 682.60 - 2,229.63
Bank Managers 8,730 - 25,700 797.73 - 2,348.43
Chief Executive Officer 9,160 - 29,200 837.03 - 2,668.25
Chief Financial Officers 8,500 - 26,300 776.72 - 2,403.25

Talent Sourcing Tips


Employer Payroll Tax

The employer payroll tax is calculated as follows:

Category Rate
Short term Social Security Contributions 2%
Unemployment Insurance 2%
Health Insurance 7.5%
Disability, Old-Age and Death 11%
Total 22.5%

Employee Payroll Tax

The employee payroll tax is calculated as follows:

Category Rate
Disability, Old-Age and Health 9%
Unemployment Insurance 1%
Health Insurance 5%
Total 15%

Employee Monthly Income Tax

The income tax rate in Turkey is as follows:

Taxable income (TRY) Tax on column 1 (TRY) Tax on excess (%)
Over Not over
0 24,000 - 15
24,000 53,000 3,600 20
53,000 190,000 9,400 27
190,000 650,000 46,390 35
650,000 207,390 40

Minimum Wage & Payroll

Minimum Wage

The minimum monthly gross pay in Turkey is TRY 3,577.50.

Payroll Cycle

Employees are paid monthly in Turkey.


13th month salary

There is no provision for a 13th month salary.

Working Hours & Statutory Leave

Working hours

The standard number of working hours in Turkey is upto 45 hours a week.

Overtime pay

Employees who work overtime are remunerated to 1.5 times of their normal hourly rate. The maximum overtime hours cannot exceed 270 hours in the entire year.

Public Holidays

The number of national holidays in the country is 16. The list of holidays can be found here.


Annual Paid Leave

Employees in Turkey are entitled to a paid leave once they have completed one year of service. The leave is allocated as follows: 

  • 14 days if the employee has served 1 to 5 years of employment
  • 20 days if the employee has served 5 to 15 years of employment
  • 26 days if the employee has served 15 years of employment

Sick Leave

All employees are entitled to one week of paid sick leave. Extended sick leave might be given on an unpaid basis.

Parental Leave

Turkish law allows pregnant mothers to take a total of 16 weeks as maternity leave - 8 weeks before birth and 8 weeks after childbirth.

Fathers are allowed to take a paid leave of 3 days.

Offboarding & Termination

Termination Process

In Turkey, there are two types of termination - ordinary and extraordinary. There must be a specific reason for termination of the employee’s employment agreement

Notice Period

The notice period in Turkey depends on the length of employment:

  • For less than 6 months - 2 weeks
  • For a period of 6 months to 1.5 years - 4 weeks
  • For a period of 1.5 years to 3 years - 6 weeks
  • For a period longer than 3 years - 8 weeks

Severance Pay

If the employee has worked for one year, the employer must pay severance benefits at the rate of 30 days’ gross salary for each full year as the date of employment of service began.

Probation period

The probation period in Turkey is two months.

Employee Benefits


The social security scheme in Turkey covers a lot of benefits for employees working in the country. The following are the rates of contribution between the employers and employees:

  • Short-term risks: 2% (paid only by the employer).
  • Long-term risks: 20% (11% paid by the employer, 9% paid by the employee).
  • General health insurance: 12.5% (7.5% paid by the employer, 5% paid by the employee).
  • Unemployment insurance: 3% (2% paid by the employer, 1% paid by the employee)

Employee Share Option Plan

There are no specific regulations for Employee share plans in Turkey nor are there established types of share plans being offered. However, employers may offer such benefits to their employees provided that they follow Turkish tax, capital markets, employment and commercial law rules.


The Sales Tax rate is projected to trend around 18% by 2022.

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