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5 Foreign Languages That Will Make You The Most Money

5 Foreign Languages That Will Make 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 learning another language can also 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. The good news is that learning a language has been shown to not only increase your chances of finding amazing work opportunities, but it’s also been 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 been shown to add between 10–15% to your wage, according to language specialist recruitment agency Euro London.

    This shows 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!

      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 becoming a Brand Specialist for Google or 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.

          
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          2. French

          With over 200 million people on 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. Renowned 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.

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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.

            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 powerhouses 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. You can quickly learn Spanish by taking advantage of online solutions like Rype, where you’ll receive unlimited private Spanish lessons and get to work with a dedicated language coach online.

              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.

              According to London-based search firm Ascentator, demand for executive positions by American and multinational companies in China has risen 35% 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 that f 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 $600 billion in GDP. The size of the Middle Eastern economy alone 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.

                  More by this author

                  Sean Kim

                  Sean is the founder and CEO of Rype, a language learning app. He's an entrepreneur and blogger.

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                  Last Updated on January 24, 2021

                  How to Say No When You Know You Say Yes Too Often

                  How to Say No When You Know You Say Yes Too Often

                  Do you say yes so often that you no longer feel that your own needs are being met? Are you wondering how to say no to people?

                  For years, I was a serial people pleaser[1]. Known as someone who would step up, I would gladly make time, especially when it came to volunteering for certain causes. I proudly carried this role all through grade school, college, even through law school. For years, I thought saying “no” meant I would disappoint a good friend or someone I respected.

                  But somewhere along the way, I noticed I wasn’t quite living my life. Instead, I seem to have created a schedule that was a strange combination of meeting the expectations of others, what I thought I should be doing, and some of what I actually wanted to do. The result? I had a packed schedule that left me overwhelmed and unfulfilled.

                  It took a long while, but I learned the art of saying no. Saying no meant I no longer catered fully to everyone else’s needs and could make more room for what I really wanted to do. Instead of cramming too much in, I chose to pursue what really mattered. When that happened, I became a lot happier.

                  And guess what? I hardly disappointed anyone.

                  The Importance of Saying No

                  When you learn the art of saying no, you begin to look at the world differently. Rather than seeing all of the things you could or should be doing (and aren’t doing), you start to look at how to say yes to what’s important.

                  In other words, you aren’t just reacting to what life throws at you. You seek the opportunities that move you to where you want to be.

                  Successful people aren’t afraid to say no. Oprah Winfrey, considered one of the most successful women in the world, confessed that it was much later in life when she learned how to say no. Even after she had become internationally famous, she felt she had to say yes to virtually everything.

                  Being able to say no also helps you manage your time better.

                  Warren Buffett views “no” as essential to his success. He said:

                  “The difference between successful people and really successful people is that really successful people say no to almost everything.”

                  When I made “no” a part of my toolbox, I drove more of my own success, focusing on fewer things and doing them well.

                  How We Are Pressured to Say Yes

                  It’s no wonder a lot of us find it hard to say no.

                  From an early age, we are conditioned to say yes. We said yes probably hundreds of times in order to graduate from high school and then get into college. We said yes to find work, to get a promotion, to find love and then yes again to stay in a relationship. We said yes to find and keep friends.

                  We say yes because we feel good when we help someone, because it can seem like the right thing to do, because we think that is key to success, and because the request might come from someone who is hard to resist.

                  And that’s not all. The pressure to say yes doesn’t just come from others. We put a lot of pressure on ourselves.

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                  At work, we say yes because we compare ourselves to others who seem to be doing more than we are. Outside of work, we say yes because we are feeling bad that we aren’t doing enough to spend time with family or friends.

                  The message, no matter where we turn, is nearly always, “You really could be doing more.” The result? When people ask us for our time, we are heavily conditioned to say yes.

                  How Do You Say No Without Feeling Guilty?

                  Deciding to add the word “no” to your toolbox is no small thing. Perhaps you already say no, but not as much as you would like. Maybe you have an instinct that if you were to learn the art of no that you could finally create more time for things you care about.

                  But let’s be honest, using the word “no” doesn’t come easily for many people.

                  3 Rules of Thumbs for Saying No

                  1. You Need to Get Out of Your Comfort Zone

                  Let’s face it. It is hard to say no. Setting boundaries around your time, especially you haven’t done it much in the past, will feel awkward. Your comfort zone is “yes,” so it’s time to challenge that and step outside that.

                  If you need help getting out of your comfort zone, check out this article.

                  2. You Are the Air Traffic Controller of Your Time

                  When you want to learn how to say no, remember that you are the only one who understands the demands for your time. Think about it: who else knows about all of the demands in your life? No one.

                  Only you are at the center of all of these requests. You are the only one that understands what time you really have.

                  3. Saying No Means Saying Yes to Something That Matters

                  When we decide not to do something, it means we can say yes to something else that we may care more about. You have a unique opportunity to decide how you spend your precious time.

                  6 Ways to Start Saying No

                  Incorporating that little word “no” into your life can be transformational. Turning some things down will mean you can open doors to what really matters. Here are some essential tips to learn the art of no:

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                  1. Check in With Your Obligation Meter

                  One of the biggest challenges to saying no is a feeling of obligation. Do you feel you have a responsibility to say yes and worry that saying no will reflect poorly on you?

                  Ask yourself whether you truly have the duty to say yes. Check your assumptions or beliefs about whether you carry the responsibility to say yes. Turn it around and instead ask what duty you owe to yourself.

                  2. Resist the Fear of Missing out (FOMO)

                  Do you have a fear of missing out (FOMO)? FOMO can follow us around in so many ways. At work, we volunteer our time because we fear we won’t move ahead. In our personal lives, we agree to join the crowd because of FOMO, even while we ourselves aren’t enjoying the fun.

                  Check in with yourself. Are you saying yes because of FOMO or because you really want to say yes? More often than not, running after fear doesn’t make us feel better[2].

                  3. Check Your Assumptions About What It Means to Say No

                  Do you dread the reaction you will get if you say no? Often, we say yes because we worry about how others will respond or because of the consequences. We may be afraid to disappoint others or think we will lose their respect. We often forget how much we are disappointing ourselves along the way.

                  Keep in mind that saying no can be exactly what is needed to send the right message that you have limited time. In the tips below, you will see how to communicate your no in a gentle and loving way.

                  You might disappoint someone initially, but drawing a boundary can bring you the freedom you need so that you can give freely of yourself when you truly want to. And it will often help others have more respect for you and your boundaries, not less.

                  4. When the Request Comes in, Sit on It

                  Sometimes, when we are in the moment, we instinctively agree. The request might make sense at first. Or we typically have said yes to this request in the past.

                  Give yourself a little time to reflect on whether you really have the time or can do the task properly. You may decide the best option is to say no. There is no harm in giving yourself the time to decide.

                  5. Communicate Your “No” with Transparency and Kindness

                  When you are ready to tell someone no, communicate your decision clearly. The message can be open and honest[3] to ensure the recipient that your reasons have to do with your limited time.

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                  How do you say no? 9 Healthy Ways to Say “No”

                    Resist the temptation not to respond or communicate all. But do not feel obligated to provide a lengthy account about why you are saying no.

                    Clear communication with a short explanation is all that is needed. I have found it useful to tell people that I have many demands and need to be careful with how I allocate my time. I will sometimes say I really appreciate that they came to me and for them to check in again if the opportunity arises another time.

                    6. Consider How to Use a Modified No

                    If you are under pressure to say yes but want to say no, you may want to consider downgrading a “yes” to a “yes but…” as this will give you an opportunity to condition your agreement to what works best for you.

                    Sometimes, the condition can be to do the task, but not in the time frame that was originally requested. Or perhaps you can do part of what has been asked.

                    Final Thoughts

                    Beginning right now, you can change how you respond to requests for your time. When the request comes in, take yourself off autopilot where you might normally say yes.

                    Use the request as a way to draw a healthy boundary around your time. Pay particular attention to when you place certain demands on yourself.

                    Try it now. Say no to a friend who continues to take advantage of your goodwill. Or, draw the line with a workaholic colleague and tell them you will complete the project, but not by working all weekend. You’ll find yourself much happier.

                    More Tips on How to Say No

                    Featured photo credit: Chris Ainsworth via unsplash.com

                    Reference

                    [1] Science of People: 11 Expert Tips to Stop Being a People Pleaser and Start Doing You
                    [2] Anxiety and Depression Association of America: Tips to Get Over Your FOMO, or Fear of Missing Out
                    [3] Cooks Hill Counseling: 9 Healthy Ways to Say “No”

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