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5 Languages That Will Earn You The Most Money

5 Languages That Will Earn You The Most Money

Deciding to learn a new language is one thing.

Deciding which of the most useful languages to learn is another. This is the question we’re going to address today.

We’ve talked about the amazing benefits of learning a language, such as clearing our mind to improve our decision making skills.

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    But did you know that it can help you make more money?

    You’ve probably heard the popular saying by Warren Buffet, “the more you learn, the more you earn.” It turns out this rule applies more than ever for learning a new language.

    Even with the addition of over 295,000 jobs in the United States, there are millions of people struggling to find full-time work, or any work at all.

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    The good news is, learning a language has shown to not only increase your chances of finding amazing work opportunities, but it’s shown to increase your earnings.

    CareerBuilder.com’s hiring forecast showed that 39 percent of U.S. employers said they plan to hire bilingual candidates, and half said that if they had two equally qualified candidates, they would be more inclined to hire the bilingual one.

    Make more money

    Learning a language has shown to add between 10–15% to your wage, according to language specialist recruitment agency, Euro London.

    This only goes to show that learning a language is a wise investment for anyone, at any age, whether you’re preparing to enter the workforce, or looking to expand your opportunities.

    Assuming an average salary of around $45,000, a 2% “language bonus” average over 40 years, and also a 1% raise annually, you’d have an extra $67,000 by the time you retire. Since you can learn a new language quickly with the right solution, that’s a pretty good investment of your time.

    What’s more, salary bonuses vary depending on the exact language in which you’re proficient. Here’s a quick breakdown of a few different secondary languages and their annual bonuses as reported by The Economist:

    • Spanish — 1.5 percent bonus
    • French — 2.3 percent bonus
    • German — 3.8 percent bonus
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      This means that you can make an additional $50,000 to $125,000, just for knowing how to speak a foreign language!

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      Expand your career opportunities

      More importantly, with the rise of globalization, there’s an exponential demand for jobs that require a foreign language.

      Interpreters and translators are among the top five fastest growing occupations, according to the Bureau of Labor Statistics, with opportunities expected to increase by 46% between 2012 and 2022. For example, members of the U.S. military can earn up to $1,000 more per month if they are proficient in multiple languages.

      You can open your doors to new career opportunities, such as becoming a Game Translator for Nintendo, where you’ll be paid to translate video games!

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        5 of the most useful languages to learn

        Let’s dig into the 5 most useful languages to learn if you want to make more money and improve your career.

        1. German

        As we shared in the graph above, German is known to be the best language that will earn you the big bucks, earning you over 125,000 (Euros) in bonuses!

        This may come as a surprise to many people, because one would assume a language like Mandarin, Japanese, or Spanish, with a higher GDP (by language) will correlate to higher earnings. While this is true for most cases, German is a special case, as Germany is one of the three European powerhouses. This means that the language will be more economically valuable for an outsider than the language of a relatively more closed economy.

        fig2-gdp-ppp-by-lang

          2. French

          With over 200M people in 5 different continents around the world speaking French, you can see why it ranks as one of the most useful languages to learn.

          At first glance, French may appear to be spoken by only those living in France, but it happens to be the second most widely learned language after English. Knowing how to speak French opens the doors to French companies in not only France, but other French-speaking parts of the world such as Canada, Switzerland, Belgium, and North and sub-Saharan Africa. As the world’s fifth biggest economy and number-three destination for foreign investment, France is a key economic partner.

          For students looking to pursue their Masters or MBA degrees, knowing French can act as a big advantage. Renown French universities and business schools are ranked as some of the top higher education institutions in Europe and the world. Students who can speak French are eligible for additional scholarship opportunities, which can save you tens of thousands of dollars in the end.

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            3. Spanish

            Over the past decade, knowing how to speak Spanish has not only been an advantage for job seekers, but it’s become a necessity. In the United States and Europe, Spanish is the foreign language of choice after English, and it’s also the official language to over four continents around the world.

            population

              No matter what industry you are in, the numbers alone present a strong case to learn Spanish, especially in business. In addition to the sheer number of people you can reach by knowing how to speak Spanish, countries like Mexico, Chile, and Colombia are quickly becoming a powerhouse in the global economy.

              Here’s the cherry on top of the sundae: Spanish is the easiest language out of the most useful languages to learn, if you already speak English!

              4. Mandarin

              It’s no secret that China is the world’s new dominant economy, with a growing influence from Africa to the Americas. If you’re in business, then China is a goldmine of opportunities, with over a billion people that you can target.

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              According to London-based search firm Ascentator, demand for executive positions by American and multinational companies in China has risen 35 percent from the previous years, echoing similar figures from other recruiting firms.

              However, unlike Spanish, Mandarin is a complicated language to learn.

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                The good news is, everyone knows it. If you can manage to learn Mandarin, you can bet that your future boss and co-workers will be impressed.

                5. Arabic

                The Arab world is recognized as one of the wealthiest regions in the world, with over $600B in GDP. The size of the Middle Eastern economy alone as a whole has increased by approximately 120% in the five year period from mid-2003 to mid-2008.

                arabic-alphabet_picture_chart

                  Due to the abundance of market opportunities in the Middle East, Western Arabic speakers are in very high demand, but in very low supply. Those who speak Arabic have the opportunity to develop an international career in a variety of industries such as education, finance, journalism, foreign services and more.

                  What’s your favorite out of the 5 most useful languages to learn?

                  We’d love to hear from you below.

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                  Last Updated on August 20, 2018

                  Quit Your Job If You Don’t Like It, No Matter What

                  Quit Your Job If You Don’t Like It, No Matter What

                  Do you know that feeling? The one where you have to wake up to go to your boring 9-5 job to work with the same boring colleagues who don’t appreciate what you do.

                  I do, and that’s why I’ve decided to quit my job and follow my passion. This, however, requires a solid plan and some guts.

                  The one who perseveres doesn’t always win. Sometimes life has more to offer when you quit your current job. Yes, I know. It’s overwhelming and scary.

                  People who quit are often seen as ‘losers’. They say: “You should finish what you’ve started”.

                  I know like no other that quitting your job can be very stressful. A dozen questions come up when you’re thinking about quitting your job, most starting with: What if?

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                  “What if I don’t find a job I love and regret quitting my current job?”
                  “What if I can’t find another job and I get in debt because I can’t pay my bills?”
                  “What if my family and friends judge me and disapprove of the decisions I make?”
                  “What if I quit my job to pursue my dream, but I fail?

                  After all, if you admit to the truth of your surroundings, you’re forced to acknowledge that you’ve made a wrong decision by choosing your current job. But don’t forget that quitting certain things in life can be the path to your success!

                  One of my favorite quotes by Henry Ford:

                  If you always do what you’ve always done, you’ll always get what you’ve always got.

                  Everything takes energy

                  Everything you do in life takes energy. It takes energy to participate in your weekly activities. It takes energy to commute to work every day. It takes energy to organize your sister’s big wedding.

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                  Each of the responsibilities we have take a little bit of our energy. We only have a certain amount of energy a day, so we have to spend it wisely.  Same goes for our time. The only things we can’t buy in this world are time and energy. Yes, you could buy an energy drink, but will it feel the same as eight hours of sleep? Will it be as healthy?

                  The more stress there is in your life, the less focus you have. This will weaken your results.

                  Find something that is worth doing

                  Do you have to quit every time the going gets touch? Absolutely not! You should quit when you’ve put everything you’ve got into something, but don’t see a bright future in it.

                  When you do something you love and that has purpose in your life, you should push through and give everything you have.

                  I find star athletes very inspiring. They don’t quit till they step on that stage to receive their hard earned gold medal. From the start, they know how much work its going to take and what they have to sacrifice.

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                  When you do something you’re really passionate about, you’re not in a downward spiral. Before you even start you can already see the finish line. The more focus you have for something, the faster you’ll reach the finish.

                  It is definitely possible to spend your valuable time on something you love and earn money doing it. You just have to find out how — by doing enough research.

                  Other excuses I often hear are:

                  “But I have my wife and kids, who is going to pay the bills?”
                  “I don’t have time for that, I’m too busy with… stuff” (Like watching TV for 2 hours every day.)
                  “At least I get the same paycheck every month if I work for a boss.”
                  “Quitting my job is too much risk with this crisis.”

                  I understand those points. But if you’ve never tried it, you’ll never know how it could be. The fear of failure keeps people from stepping out of their comfort zone.

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                  I’ve heard many people say, “I work to let my children make their dream come true”. I think they should rephrase that sentence to: “I pursue my dreams — to inspire and show my children anything is possible.” 

                  Conclusion

                  Think carefully about what you spend your time on. Don’t waste it on things that don’t brighten your future. Instead, search for opportunities. And come up with a solid plan before you take any impulsive actions.

                  Only good things happen outside of your comfort zone.

                  Do you dare to quit your job for more success in life?

                  Featured photo credit: Unsplash via unsplash.com

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