Employees' wage determinants in the financial sector and Mincer wage model test

The purpose of this study is to reveal the effects of individual's education levels, past experiences, genders and habitats on their wages. In other words, we want to test the validity of Mincer wage theory in the financial market. In the study, 901 men and 729 women workers' individual data (totally 1630) were used. These data are based on TUIK's (Turkish Statistical Instute) 2013 household labor questionnaire. Also, Financial Service Activities (except insurance and retirement funds), Security, Reassurance and Retirement Funds (except mandatory social securities) and people work for financial service and insurance activities were included in this study. Besides, we make use of Nace 2 rev. codes which are created by European Union for classify the economic activities. We expect that findings will be beneficial for employers, employees and people who work in this field. When employers determine workers' wages and when employees decide to what they want to gain according to their education and experience levels, all of them can make inferences. Furthermore, this study may contribute to studies of education institutes and we expect that it will be pioneer in financial market due to being an unique study. Key words: mincer wage model, financial market employees, wage, wage deteminants.