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Effect of Decreasing Lira Value on Salaries
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nichtta



Joined: 25 Apr 2015
Posts: 110
Location: Istanbul, Turkey

PostPosted: Fri Aug 28, 2015 1:08 am    Post subject: Re: Doom & Gloom Reply with quote

svenhassel wrote:
If there is ever a situation in which the supply of teachers drops and we are suddenly valued in Turkey it would be possible to make such demands. As it stands all teachers in all language schools/most K12's/ and universities are replaceable.

Wages are low because people are prepared to work for low wages and this makes Turkey totally unsustainable for longterm prospects.

...

As I said, Turkey is unsustainable


That's so true... The longer I stay here, the more I realize the same thing...

Just as a negative update, it's now $1 USD = 2.90886 TL according to XE.com, and it doesn't help that there's a snap election on November 1st, 2015. Polls say we're going to have another hung parliament, and the two main opposition parties are refusing to join the current interim government run by the AKP.
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svenhassel



Joined: 04 Aug 2006
Posts: 188
Location: Europe

PostPosted: Fri Aug 28, 2015 1:29 pm    Post subject: Reply with quote

Yes, you'd have to have a very good reason for not being able to leave, or just love your job/the country to stay there in the current economic and political climate.
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Kim Macintosh



Joined: 26 Dec 2013
Posts: 43

PostPosted: Fri Aug 28, 2015 3:50 pm    Post subject: Reply with quote

The story must be dramatically different between, say, Istanbul and Antep. Everything is relative, comparing locations in-country, as well as the status of MA/PhD university teachers versus journeyman TEFLs.

It used to be a new grad with a TEFL could live well and save $xxx. Now they may just break-even comfortably, but even that's worth something. Sound alternatives used to exist for non-EU passports in Russia and especially in China, but for different reasons those have also soured a bit.

Best thing is to make the most of Turkey, which still is not all that bad, but the time for taking a good gig here for granted is past.
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mysterytrain



Joined: 23 Mar 2014
Posts: 366

PostPosted: Sun Sep 06, 2015 11:11 am    Post subject: Re: Doom & Gloom Reply with quote

nichtta wrote:
Just as a negative update, it's now $1 USD = 2.90886 TL according to XE.com, and it doesn't help that there's a snap election on November 1st, 2015.

Today's rate: 1.00 USD = 3.00695 TRY (also from XE.com) Sad
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scot47



Joined: 10 Jan 2003
Posts: 15343

PostPosted: Mon Sep 07, 2015 8:48 am    Post subject: Reply with quote

Remember all those zeroes on the Old Lira ? They will be back !

The Government has them all stored away in a warehouse.
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Kim Macintosh



Joined: 26 Dec 2013
Posts: 43

PostPosted: Tue Sep 08, 2015 7:33 am    Post subject: Reply with quote

Is there any experience about HOW to successfully negotiate a contract where salaries are pegged to the $?

I'm thinking about how to explain what you want to a school in a way they can easily digest and buy into. I once attempted this conversation outside of contract negotiations and just they didn't get it.

If I try again I'd say that although they would pay in TL the amount will be adjusted by the FX rate multiple, and then give a couple examples. Hotels will always be hip to how this game is played, but a simple local school less so. Any thoughts, or successful experience?
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JohnRambo



Joined: 06 Mar 2008
Posts: 183

PostPosted: Sat Sep 19, 2015 8:34 am    Post subject: Reply with quote

Kim Macintosh wrote:
Is there any experience about HOW to successfully negotiate a contract where salaries are pegged to the $?

I'm thinking about how to explain what you want to a school in a way they can easily digest and buy into. I once attempted this conversation outside of contract negotiations and just they didn't get it.

If I try again I'd say that although they would pay in TL the amount will be adjusted by the FX rate multiple, and then give a couple examples. Hotels will always be hip to how this game is played, but a simple local school less so. Any thoughts, or successful experience?


I work for a government university, things are fixed. I can't do much about the fact that the lira declined. At least, I don't have high bills at the moment and no student loans to think of. I do plan on opening up a US dollar account and to have some of my money in dollars to ensure I'm saving x amount of dollars (minimum) every month. I do have some savings, but I need more.
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nichtta



Joined: 25 Apr 2015
Posts: 110
Location: Istanbul, Turkey

PostPosted: Tue Oct 20, 2015 4:57 am    Post subject: Reply with quote

I got a little hopeful yesterday, when I was walking around town and saw currency exchange offices with rates of about 2.88 TL to 1.00 USD.

I just checked now and according to xe.com, 1 USD = 2.90587 TL.

Still, it seems things may be getting better, despite the recent Ankara terrorist attack and Turkey's involvement in a Syrian conflict that just got bigger what with Russia and perhaps even Cuba now supporting Assad's government. I hope the upcoming elections will result in a clear victor, which would put investors' minds at ease and allow for the lira to slowly appreciate again in a more politically stable environment.
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EFL Educator



Joined: 17 Jul 2013
Posts: 988
Location: Cape Town

PostPosted: Fri Oct 23, 2015 6:57 am    Post subject: Reply with quote

One is dreaming if one thinks the Lira will be pegged to the US dollar....EFL teachers are easily replaceable and wages will not change.....its all about EFL market economics....there will always be an oversupply of EFL teachers in Turkey...and new, young, fresh, college graduate 20 something year old baby boomers ready to take any teaching job offered to them. Shocked Shocked
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JohnRambo



Joined: 06 Mar 2008
Posts: 183

PostPosted: Mon Nov 02, 2015 6:00 am    Post subject: Reply with quote

nichtta wrote:
I got a little hopeful yesterday, when I was walking around town and saw currency exchange offices with rates of about 2.88 TL to 1.00 USD.

I just checked now and according to xe.com, 1 USD = 2.90587 TL.

Still, it seems things may be getting better, despite the recent Ankara terrorist attack and Turkey's involvement in a Syrian conflict that just got bigger what with Russia and perhaps even Cuba now supporting Assad's government. I hope the upcoming elections will result in a clear victor, which would put investors' minds at ease and allow for the lira to slowly appreciate again in a more politically stable environment.


Syria has had a major influence on Turkish politics. It's not simply that Syria was influenced by bigger Turkey. The US, Russia, and Iran are trying to find some kind of solution. I don't think they want the war to continue for a long time. If the war in both Iraq and Syria subsides and the refugees are reduced, then things will change. The United States and Europe need Turkey due to the conflict in the region and refugee situation.

The lira is lower for many reasons. One is that conflict nearby. That reduces investor confidence. The inner turmoil also affects that. Also, tourism is significantly down. Fewer people want to go to Turkey due to the violence, political headlines, and so many Russians who used to come can't afford it as easily due to the crisis in Russia. And the rising dollar also hurt the lira. There aren't many factors that would encourage a rising lira.
If the government could somehow do something that encourages investors.
Turkey's not South Korea. It has so many internal problems, it depends so much on outside money and has so many unstable neighbors.

However, having a majority government in Turkey does help the lira to some extent, because it means less instability. And that makes sense since the other parties cannot seem to get along enough to form a government.
In a sense, it almost seems like it's either the AKP or nothing.
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