In 2018, the gross minimum wage in Turkey is 2029 Turkish liras; however, after deductions such as social security premiums and income taxes, the net minimum wage becomes approximately 1600 Turkish liras. Generally, the levels of wage in Turkey depend on the kind of the sector, which the person works in, so the wages usually vary from section to section. However, according to the Survey on Income and Life Conditions published by the Turkish Statistical Institute (TURKSTAT), the monthly-equalized household disposable income by quintiles in 2016 is within the range of $1600-$3764.
In terms of the cost of living in Turkey, Turkey has an advantage over other countries. The cost of living in Turkey is considered lower than the living cost in Europe, so it becomes one of the best choices for individuals for the living, and investors for establishing their own businesses at appropriate costs.
Recently, the inflation rate has increased to 25.24%, which forced the central bank of Turkey to intervene throughout pushing the interest rate to 24%. Consequently, Turkey could go over this economic problem and control the depreciation of Turkish lira.