Yes, Istanbul is financially hard to live but not for the Central Bank governor

In a recent strange interview, Ms. Erkan stated that she ‘lives with mother’ due to excessive rental prices in İstanbul

I don’t know her intentions, but I list below how much she earned in recent years. It is hypocritical- but probably politically beneficial- to identify with poorer people like that.

How much she actually earned recently?

Hafize Gaye Erkan has earned varying amounts in her previous jobs. As the President and Director of First Republic Bank, her total compensation was $8,647,240[1]. Before that, she held the position of Managing Director and Head of Financial Institutions Group Strategies at a large U.S. bank and insurance company, where she advised boards and executive management[1].

In addition to her banking career, Erkan has also served on the Board of Directors at MARSH & MCLENNAN COS, where she made $282,753 in total compensation, with $92,753 received as fees[2].

When she became the head of Turkey’s central bank, Erkan received compensation of $10 million (around €9.1 million)[5].

Overall, Hafize Gaye Erkan has earned a significant income throughout her career in the banking industry.


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