The Republic of Turkey is located in the Anatolian Peninsula in Western Asia and a small portion in the Balkan Peninsula in Southeast Europe. The country is considered one of the world’s newly industrialized countries and ranks as the 20th largest nominal GDP in the world. The freedom score of Turkey is 56.9, making the economy 107th freest in the 2022 list.
Istanbul, Ankara, Izmir, Bursa
IT Specialist, Project Manager, Business Analyst, Engineer
The table below mentions all the top local Universities with world rank in Turkey:
World : 263
World : 370
World : 461
World : 477
World : 562
The average monthly salaries with job titles in Turkey are mentioned below:
|Job Title||Average Monthly Salary (TRY)||Average Monthly Salary (USD)|
|Financial Manager||15,800 TRY||840.76 USD|
|General Manager||13,900 TRY||739.65 USD|
|Business Development Manager||12,300 TRY||654.51 USD|
|Financial Analyst||10,400 TRY||553.41 USD|
|Business Analyst||9,970 TRY||530.53 USD|
|Project Manager||8,690 TRY||462.42 USD|
The payroll cycle in Turkey is monthly.
In Turkey, the monthly minimum wage is 8,506.80 TRY net, and 10,008 TRY gross.
The overtime pay in Turkey is 50% of the regular pay.
The 13th month’s pay is not mandatory. However, the employer can provide annual or quarterly bonuses.
Employers may offer the following additional benefits to their employees:
|Social Security Insurance||2%|
|Disability and Old-age Insurance||11%|
|Disability and Old-age Insurance||9%|
|Annual Income in TRY||Tax Rate|
|0 – 32,000||15%|
|32,000 – 70,000||20%|
|70,000 – 250,000||27%|
|250,000 – 880,000||35%|
|880,000 and above||40%|
There is a stamp tax of 0.759% calculated via payroll.
The Standard rate of Value Added Tax in Turkey is 18%.
According to Turkish laws, the contract can be terminated based on three ways—the employer can terminate, the employee can terminate, or the contract is automatically terminated. However, the terminating party has to provide a notice for the end of employment.
The notice period is dependent based on the length of the employment,
|Years of Employment||Notice Period|
|Less than 6 months of employment||2 weeks|
|From 6 months to 1 year and 6 months||4 weeks|
|From 1 year and 6 months to 3 years||6 weeks|
|For more than 3 years||8 weeks|
The severance pay in Turkey is one month of salary for each year worked after completion of one year of employment.
In order to work in Turkey, the employee must apply for a work permit at the nearest Turkish Mission and provide with necessary personal documents along with a letter from the employer. Your employer must submit the other documents to the Turkish Ministry of Labor and Social Security (MLSS).