IF YOU HAVE a young population, the future is yours," Turkey's current President (and former Prime Minister) Recep Erdogan said about the challenge of population aging in Turkey. "At the moment, thank God, 60 per cent of our population is under 30. But when we look at the increase, if we continue like this, alarm bells are ringing for 2037-40." 1 Erdogan's fear of an increase in the proportion of elderly people in Turkey is mainly driven by fertility rates that have been rapidly decreasing over the last several decades. Turkish women still have more than two children on average, but trends suggest an eventual decline below replacement level. At the same time, female education and employment have been increasing over the past 15 years. Even though female employment rates are still relatively low in Turkey in comparison to other European countries, they are rising especially for young cohorts of better-educated women, who also tend to have lower fertility.This article examines the determinants of Turkey's fertility decline using census and survey data. We show that the transition from a second to a third child is crucial for the future of fertility levels in Turkey. In a context of increasing education and employment opportunities for women, our results suggest that the decline in fertility reflects an important conflict between work-life balance in Turkey, which affects in particular mothers in formal employment. When women who have two children are employed, their contribution to household income is crucial. In the absence of possibilities to combine employment and family life, mothers who are active in formal jobs are thus most likely to decide against having a third child.Enabling women to work while raising children would allow families to generate the financial means that are needed for larger family size. However, the current policy setting in Turkey is conducive to impeding P O P U L AT I O N A N D D E