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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 June 13, 2019

                  15 Best Entrepreneurs Books to Start Reading Now to Be Successful

                  15 Best Entrepreneurs Books to Start Reading Now to Be Successful

                  Knowledge is power, and you’re going to need a lot of it if you’re going to be able to steer your business to success.

                  Without further ado, let’s take a look at the 15 best entrepreneurs books to get inspirations about success and grow your business.

                  1. Think and Grow Rich by Napoleon Hill

                    This book has been dubbed the Granddaddy of All Motivational Literature, and it was actually the first book that gave a prescription of what it takes to be a winner.

                    Napoleon Hill draws from the stories of millionaires like Henry Ford, Andrew Carnegie, and Thomas Edison to illustrate the principles he put forth.

                    Get the book here!

                    2. The Lean Startup by Eric Reis

                      A lot of startups end up failing, but many of these failures are actually avoidable. The Lean Startup provides a different approach that is now being adopted all over the world and changing the way that companies are developed and products are being launched.

                      In The Lean Startup, Eric Reis describes what is required for a company to penetrate the fog of uncertainty in order to discover a path to a sustainable and successful business.

                      Get the book here!

                      3. The E-Myth Revisited by Michael E. Gerber

                        In a revised edition of the 150,000-copy bestseller, The E-Myth, Michael Gerber refutes some of the myths that surround starting your own business and shows just how commonplace assumptions can end up getting in the way of being able to run a successful business.

                        Gerber succeeds in walking the reader through the steps that occur in the life of a business, from infancy, through the pains of growing as an adolescent, to the perspective of the mature entrepreneur.

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                        Get the book here!

                        4. Rework by Jason Fried

                          Most of the business books that you get today will give you the same advice: draft a business plan, study the competition, look for investors, and all that.

                          However, Rework shows you a more effective, easier and faster means of succeeding when running a business. By reading it, you’ll be able to know why some plans are harmful, why you don’t really need to get investors, and why you’re better of shutting out your competition.

                          Get the book here!

                          5. How to Win Friends and Influence People by Dale Carnegie

                            This is one of the most successful motivational books in history, selling well over 15 million copies since it was released in 1936. The book is timeless, and it appeals to businesses, self-help startups, and general readers.

                            Carnegie believes that a lot of successes come from an ability to communicate rather than having brilliant insights. In his book, he teaches how to value others and make them feel appreciated and loved.

                            Get the book here!

                            6. Outliers: The Story of Success by Malcolm Gladwell

                              Through this amazing book, Malcolm Gladwell is able to take the reader on an intellectual journey through the world of ‘outliers’. He asks the question of what truly differentiates high-achievers.

                              His answer to this question is that we tend to pay too much attention to what successful people are like, and less attention to where they are actually from.

                              Get the book here!

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                              7. Rich Dad, Poor Dad by Robert T. Kiyosaki

                                This is the best personal finance book ever written. It tells the story of Kiyosaki and his two fathers; his real father, and that of his best friend (his rich dad), as well as how the two men helped him shape his opinions on money and investing.

                                It refutes the myth that you need to earn high to become rich, and it distinguishes between working for money and having money work for you.

                                Get the book here!

                                8. The Ascent of Money: The Financial History of the World by Niall Ferguson

                                  Niall Ferguson, in this book, follows the money to tell the story behind the evolution of the word’s financial system, from the beginning way back in ancient Mesopotamia to the latest occurrences in what he had dubbed Planet Finance.

                                  Fergusson also reveals financial history as the backstory behind our very own history, with an argument that the evolution of debt and credit is as significant as the history of technological innovation and the rise of civilization.

                                  Get the book here!

                                  9. Liar’s Poker by Michael Lewis

                                    Michael Lewis landed a job at Salomon Brothers after getting out of the London School of Economics and Princeton within three years, he had risen to the rank of bond salesman, making millions for the firm and cashing out steadily.

                                    Liar’s Poker is the amalgamation of these years — a look behind the scenes at one of the most turbulent times in American business. His book is Lewis’s account of an era where greed and gluttony were the order of the day.

                                    Get the book here!

                                    10. Drive: The Surprising Truth about What Motivates Us by Michael H. Pink

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                                      A lot of people see money as the best motivator. Michael pink says it’s a mistake.

                                      In this provocative book, he asserts that the secret to high performance anywhere is the need to direct our lives, to learn and create, and to do better by our world and ourselves.

                                      Get the book here!

                                      11. Getting Things Done: The Art of Stress-Free Productivity by David Allen

                                        Outdated methods don’t work in today’s world. In this book, Allen shares some awesome methods for stress-free performance that he has shared with thousands of people all over the world.

                                        His premise? That productivity is proportional to your ability to relax.

                                        Get the book here!

                                        12. The 7 Habits of Highly Effective People by Stephen R. Covey

                                          In this book, Stephen Covey presents a holistic approach for overcoming both professional and personal issues. With insights and anecdotes, Covey presents a way to live with integrity fairness, service and dignity.

                                          Get the book here!

                                          13. The 4-Hour Workweek: Escape the 9-5, Live Anywhere, and Join the New Rich by Tim Ferriss

                                            In this book, Ferriss dishes on the tips he has learned from studying the New Rich, a subculture of people who did away with the deferred life plan and mastered time and mobility to developed luxury lifestyles for themselves.

                                            If you’re looking to make your way in this revolutionary new world, this here is your compass.

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                                            Get the book here!

                                            14. Delivering Happiness: A Path to Profits, Passion, and Purpose by Tony Hsieh

                                              The CEO of Zappos shows how a unique kind of corporate identity can help deliver a huge difference in the way results are being achieved — by creating a company that values and delivers happiness.

                                              Get the book here!

                                              15. Losing My Virginity: How I Survived, Had Fun, and Made a Fortune Doing Business My Way by Richard Branson

                                                From Virgin Atlantic Airways, Virgin Records and V2 to Virgin Cola, Virgin Megastores and a wide array of other companies, Richard Branson is the rockstar billionaire that a lot of us want to be.

                                                Branson, however, did business by following a simple philosophy:

                                                “Oh, screw it, let’s do it”

                                                Losing My Virginity is an unusual, borderline outrageous autobiography of one of the greatest business geniuses in the world. Branson and his friends named their business “Virgin” because that was what they were — virgins at the game.

                                                Since then, he’s written his success rules, creating a global business that has no headquarters, no management structure no corporate identity as it were.

                                                Get the book here!

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                                                Featured photo credit: rawpixel via unsplash.com

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