The salary increase rates for various professional groups in the new year have been determined

Civil servants and retirees will start the new year with new salaries. In January 2025, civil servants and civil servant retirees will receive a 6 percent raise under the decision of the Public Officials Arbitration Board, plus an inflation adjustment for any amount by which inflation in the second half of 2024 exceeds 10 percent. CPI forecasts indicate that civil servants and civil servant retirees are likely to receive an inflation adjustment.

The year-end inflation forecast for 2024 in the Medium-Term Program was set at 41.5 percent. If this forecast is realized, the inflation for the second 6-month period will be 13.44 percent. According to this estimate, the January salary increase for civil servants will be 9.31 percent. As reported by Takvim, expectation surveys conducted with economists also provide clues.

SURVEY 1: In the Central Bank's August Market Participants Survey, the year-end inflation forecast for 2024 was placed at 43.31 percent. According to this estimate, while the CPI for the second half of 2024 will rise to the 14.89 percent level, the January raise for civil servants and civil servant retirees will reach 10.71 percent, including a 4.45 percent inflation adjustment.

SURVEY 2: According to a Reuters survey, inflation is expected to reach 42.95 percent by the end of 2024. Based on this estimate, the second 6-month CPI will come out to 14.60 percent. Civil servants and civil servant retirees will be able to receive an inflation difference of 4.18 percent accordingly. The 6 percent January raise could reach 10.43 percent when combined with this inflation difference.

SURVEY 3: In the survey conducted as part of the FKB Economic Outlook Index, developed by the Financial Institutions Association (FKB) in cooperation with Istanbul University, the average year-end inflation forecast for 2024 was determined to be 49.39 percent.

SURVEY 4: AA Finance also conducted an inflation expectation survey with the participation of 11 economists. The economists' year-end 2024 inflation expectation came in at 42.84 percent.

According to this forecast, inflation in the second half of this year will come out at 19.77 percent. In this scenario, the inflation adjustment for civil servants and civil servant retirees will reach 8.88 percent. Including this adjustment, the total salary increase rate will reach 15.41 percent. Here are the new salary forecasts by profession:

EXPERT TEACHER: Current salary: 52,568, With 9.31% raise: 57,462.08, With 10.36% raise: 58,014.04, With 10.43% raise: 58,050.84, With 10.71% raise: 58,198.03, With 15.41% raise: 60,668.73

CHIEF INSPECTOR: Current salary: 58,338, With 9.31% raise: 63,769.27, With 10.36% raise: 64,381.82, With 10.43% raise: 64,422.65, With 10.71% raise: 64,586.00, With 15.41% raise: 67,327.89

POLICE OFFICER: Current salary: 52,816, With 9.31% raise: 57,733.17, With 10.36% raise: 58,287.74, With 10.43% raise: 58,324.71, With 10.71% raise: 58,472.59, With 15.41% raise: 60,954.95

SPECIALIST DOCTOR: Current salary: 97,836, With 9.31% raise: 106,944.53, With 10.36% raise: 107,971.81, With 10.43% raise: 108,040.29, With 10.71% raise: 108,314.24, With 15.41% raise: 112,912.53

TEACHER: Current salary: 47,433, With 9.31 percent raise: 51,849.01, With 10.36 percent raise: 52,347.06, With 10.43 percent raise: 52,380.26, With 10.71 percent raise: 52,513.07, With 15.41 percent raise: 54,742.43

POLICE OFFICER: Current salary: 52,816, With 9.31% raise: 57,733.17, With 10.36% raise: 58,287.74, With 10.43% raise: 58,324.71, With 10.71% raise: 58,472.59, With 15.41% raise: 60,954.95

NURSE: Current salary: 47,909, With 9.31 percent raise: 52,369.33, With 10.36 percent raise: 52,872.37, With 10.43 percent raise: 52,905.91, With 10.71 percent raise: 53,040.05, With 15.41 percent raise: 55,291.78

LAWYER: Current salary: 57,028, With 9.31% raise: 62,337.31, With 10.36% raise: 62,936.10, With 10.43% raise: 62,976.02, With 10.71% raise: 63,135.70, With 15.41% raise: 65,816.01