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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.

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                  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.

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                  Last Updated on August 16, 2018

                  10 Ways To Step Out Of Your Comfort Zone And Enjoy Taking Risks

                  10 Ways To Step Out Of Your Comfort Zone And Enjoy Taking Risks

                  The ability to take risks by stepping outside your comfort zone is the primary way by which we grow. But we are often afraid to take that first step.

                  In truth, comfort zones are not really about comfort, they are about fear. Break the chains of fear to get outside. Once you do, you will learn to enjoy the process of taking risks and growing in the process.

                  Here are 10 ways to help you step out of your comfort zone and get closer to success:

                  1. Become aware of what’s outside of your comfort zone

                  What are the things that you believe are worth doing but are afraid of doing yourself because of the potential for disappointment or failure?

                  Draw a circle and write those things down outside the circle. This process will not only allow you to clearly identify your discomforts, but your comforts. Write identified comforts inside the circle.

                  2. Become clear about what you are aiming to overcome

                  Take the list of discomforts and go deeper. Remember, the primary emotion you are trying to overcome is fear.

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                  How does this fear apply uniquely to each situation? Be very specific.

                  Are you afraid of walking up to people and introducing yourself in social situations? Why? Is it because you are insecure about the sound of your voice? Are you insecure about your looks?

                  Or, are you afraid of being ignored?

                  3. Get comfortable with discomfort

                  One way to get outside of your comfort zone is to literally expand it. Make it a goal to avoid running away from discomfort.

                  Let’s stay with the theme of meeting people in social settings. If you start feeling a little panicked when talking to someone you’ve just met, try to stay with it a little longer than you normally would before retreating to comfort. If you stay long enough and practice often enough, it will start to become less uncomfortable.

                  4. See failure as a teacher

                  Many of us are so afraid of failure that we would rather do nothing than take a shot at our dreams.

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                  Begin to treat failure as a teacher. What did you learn from the experience? How can you take that lesson to your next adventure to increase your chance of success?

                  Many highly successful people failed plenty of times before they succeeded. Here’re some examples:

                  10 Famous Failures to Success Stories That Will Inspire You to Carry On

                  5. Take baby steps

                  Don’t try to jump outside your comfort zone, you will likely become overwhelmed and jump right back in.

                  Take small steps toward the fear you are trying to overcome. If you want to do public speaking, start by taking every opportunity to speak to small groups of people. You can even practice with family and friends.

                  Take a look at this article on how you can start taking baby steps:

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                  The Number One Secret to Life Success: Baby Steps

                  6. Hang out with risk takers

                  There is no substitute for this step. If you want to become better at something, you must start hanging out with the people who are doing what you want to do and start emulating them. (Here’re 8 Reasons Why Risk Takers Are More Likely To Be Successful).

                  Almost inevitably, their influence will start have an effect on your behavior.

                  7. Be honest with yourself when you are trying to make excuses

                  Don’t say “Oh, I just don’t have the time for this right now.” Instead, be honest and say “I am afraid to do this.”

                  Don’t make excuses, just be honest. You will be in a better place to confront what is truly bothering you and increase your chance of moving forward.

                  8. Identify how stepping out will benefit you

                  What will the ability to engage in public speaking do for your personal and professional growth? Keep these potential benefits in mind as motivations to push through fear.

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                  9. Don’t take yourself too seriously

                  Learn to laugh at yourself when you make mistakes. Risk taking will inevitably involve failure and setbacks that will sometimes make you look foolish to others. Be happy to roll with the punches when others poke fun.

                  If you aren’t convinced yet, check out these 6 Reasons Not to Take Life So Seriously.

                  10. Focus on the fun

                  Enjoy the process of stepping outside your safe boundaries. Enjoy the fun of discovering things about yourself that you may not have been aware of previously.

                  Featured photo credit: Unsplash via unsplash.com

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