In the last half of 2022, the minimum wage was 6 thousand 471 liras per month gross for each employee, and 5 thousand 500 liras and 35 cents net, when taxes and deductions were deducted. Therefore, the total cost of the minimum wage to the employer was 7 thousand 603 lira and 43 cents for each employee.
What Will the Minimum Wage Be in 2023?
President Recep Tayyip Erdoğan announced that the minimum wage for 2023 will be 8 thousand 506 liras net. Thus, the minimum wage; It showed an increase of 55% compared to July and 100% compared to January. In his speech, President Erdoğan announced that if an unexpected situation is encountered, they will be able to revise the minimum wage in the next year, as they did this year.
The minimum wage was determined as 10 thousand 8 lira gross and 8 thousand 506 lira net 80 cents in 2023. The monthly cost of the new figure to the employer was 11 thousand 759 lira and 40 cents.
When we look at the minimum wage year by year, we see a table like this:
2022 July: 5 thousand 500 TL
January 2022: 4 thousand 253 TL
2021 2 thousand 825 TL
2020: 2 thousand 324 TL
2019: 2 thousand 20 TL
2018: 1.603 TL
So let’s make a different comparison now, shall we?
According to the data published by BTCHaber:
An employee who earns a net minimum wage of 8,500 Turkish lira in 2023 can buy 0.027027 Bitcoins according to the current exchange rate.
In 2022, while the minimum wage was 5 thousand 500 Turkish liras, the average price of Bitcoin was 19 thousand 600 dollars. In other words, the amount of Bitcoin that can be purchased with a minimum wage of 1 in 2022 was approximately 0.016778.
In 2021, the minimum wage was 4 thousand 252.40 Turkish liras. Bitcoin price was also on average 45 thousand 500 dollars. With this amount, 0.01071 Bitcoins could be bought.
Then let’s see how much Ethereum we can buy with the minimum wage over the years.
An employee who earns a net minimum wage of 8,500 Turkish lira in 2023 can receive 0,3676 ETH according to the current exchange rate.
In 2022, while the minimum wage was 5 thousand 500 Turkish liras, the average price of Ethereum was 34 thousand 032 Turkish liras. In other words, the amount of ETH that can be purchased with a minimum wage of 1 in 2022 was approximately 0.1616.
In 2021, the minimum wage was 4 thousand 252.40 Turkish liras. Ethereum price was 37 thousand 138 Turkish Liras on average. With this amount, 0.0761 ETH could be bought.