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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 February 18, 2019

                  Why It’s Never Too Late To Redefine Yourself

                  Why It’s Never Too Late To Redefine Yourself

                  The ability to reinvent and redefine yourself is a bold, daring and purposeful choice. It doesn’t just happen. You have to make a conscious, intentional choice and then follow through.

                  If the thought of forging a new path, changing habits, thought patterns and your inner circle of friends scares you – you’re not alone. Change can be a very scary thing. It takes courage, fortitude and a bit of faith to decide to shed your old self and don a new persona. However, it is one of the most critical processes one must repeatedly endure in the pursuit of destiny. Change unlocks new levels of potential.

                  The Need for Change

                  Everyday when we wake up, we make a decision. We decide to follow our routine or we decide to go off script and shake things up a bit. For those who are creatures of habit, routine is comfortable, easy and produces very little stress. The problem with this is, after a while you stop growing.

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                  We all reinvent ourselves at some point in our lives. It is absolutely necessary to achieve certain levels of success.

                  Reflect back on who you were as a teenager and then who you were at 25. Those are two very different people. Most of us are completely different. Your thought patterns changed, your appearance, job, level of education and even your friends– changed. We like to refer to this as “growing up” or maturing and consider it to be one of life’s natural progressions. However the changes you made were purposeful and deliberate.

                  This process must be a lifelong and continuous cycle. You are never too old to refresh yourself.

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                    Signs It’s Time to Redefine

                    “Just as established products and brands need updating to stay alive and vibrant, you periodically need to refresh or reinvent yourself.”– Mireille Guiliano

                    So how do you know when it’s time for a system upgrade? There are signs along the way that alert you that it is time for an overhaul. The first sign is the feeling of being stuck. If you feel like you are in a rut, you’re bored with life or you need some newness and excitement, a self reinvention may be in order. Re-evaluate your life vision and your goals. Is that vision still valid and are your goals consistent with your vision and–are they achievable? If you are off course, it’s time for a change. If you are not moving forward and making progress, it’s time for a change.

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                    In life, there’s no such thing as neutrality–you’re either moving forward or you are moving backward. Time constantly moves forward and if you are standing still, you are actually losing ground. No matter your age or stage in life– there is always room for improvement.

                    “You’re never too old to set another goal or dream a new dream.” ~C. S. Lewis

                    The second sign that you are due for a change is the occurrence of major life events in which change is forced upon you. Getting married, starting a new job, being promoted, ending a relationship, becoming a parenting or relocating are all prime opportunities to completely overhaul your life.

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                    When these major shifts occur in your life–you have to shift with them. You can’t have a single mentality and have a successful marriage. You can’t remain selfish and irresponsible, and raise a healthy, well-adjusted child. You can’t be promoted to a supervisory position and keep the same subordinate attitude. Each level of success requires something different from you.

                    Aronld in Predator

                      Consider, for a moment, Arnold Schwarzenegger. People may have different opinions about his character and some of his life choices, but he is a master at reinventing himself. He achieved the ultimate success as a professional body builder by earning the title “Mr. Universe” three times. He then earned a tremendous amount of fame and fortune in the entertainment industry making action/adventure films. And in his latest role, he served two terms as the Governor of California. He succeeded as a professional body builder, a film star and a politician. Each role required massive amounts of change, commitment, strength and hard work.

                      And if Arnold can do it…so can you!

                      Featured photo credit: BK via flickr.com

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