Date set for first minimum wage hike meeting

The Ministry of Labor and Social Security has called worker and employer representatives to a meeting on December 12 to determine the minimum wage that will be effective in 2026. This first meeting of the Minimum Wage Determination Commission will be held with its new member structure.

BANK HIKING PREDICTIONS

Bank predictions for the minimum wage hike are also drawing attention. If a 16 percent increase is implemented, in line with the inflation forecast in the Medium-Term Program and the Central Bank's intermediate target, the minimum wage is expected to rise to 25 thousand 641 TL. In a 20 percent hike scenario, this figure would be 26 thousand 522 TL.

Morgan Stanley and other international investment banks, which accurately predicted the minimum wage last year, are forecasting a hike in the 20-25 percent range for this year. JPMorgan and HSBC also state that a 20 percent increase is possible. In the event of a 25 percent hike, the minimum wage would rise to 27 thousand 630 TL, and in the event of a 30 percent hike, it would rise to 28 thousand 735 TL.

MINIMUM WAGE DETERMINATION PROCESS

The Minimum Wage Determination Commission consists of 15 members in total, with five representatives each from workers, employers, and the government. The commission meets with the participation of at least 10 members and makes decisions by majority vote. In the event of a tie, the decision of the side on which the chair sits is considered valid.

CURRENT MINIMUM WAGE AND HIKE TIMELINE

Currently, the monthly gross minimum wage for a worker is applied as 26 thousand 5 lira and 50 kuruş, and 22 thousand 104 lira and 67 kuruş net. The total cost to the employer reaches 30 thousand 621 lira and 48 kuruş. Following the meetings to be held throughout December, the new minimum wage is expected to be announced by December 31, 2025, at the latest, and this wage will come into effect as of January 1, 2026.

News Source: 12punto