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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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                  Sean Kim

                  Sean is the founder and CEO of Pulsing. He's an entrepreneur and blogger.

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                  Last Updated on June 19, 2019

                  6 Ways to Be a Successful Risk Taker and Take More Chances

                  6 Ways to Be a Successful Risk Taker and Take More Chances

                  I’ve stood on the edge of my own personal cliffs many times. Each time I jumped, something different happened. There were risks that started off great, but eventually faded. There were risks that left me falling until I hit the ground. There were risks that started slow, but built into massive successes.

                  Every risk is different, but every risk is the same. You need to have some fundamentals ready before you jump, but not too many.

                  It wouldn’t be a risk if you knew everything that was about to happen, would it? Here’re 6 ways to be a successful risk taker.

                  1. Understand That Failure Is Going to Happen a Lot

                  It’s part of life. Everything we do has failure attached to it. All successful people have stories of massive failure attached to them. Thinking that your risk is going to be pain free and run as smooth as silk is insane.

                  Expect some pain and failure. Actually, expect a lot of it. Expect the sleepless nights with crazy thoughts of insecurity that leave you trembling under the covers. It’s going to happen, no matter how positive you are about the risk you are about to take.

                  When failure hits, the only options are to keep going or quit. If you expect falling into a meadow of flowers and frolicking unicorns, then you’re going to immediately quit once you realize that getting to that meadow requires you to go through a rock filled cave filled with hungry bats.

                  2. Trust the Muse

                  Writing a story isn’t a big risk. It’s really just a risk on my time. So when I start writing a story, I’m scared it will be time wasted. Of course, it never really is. Even if the story doesn’t turn out fabulous, I still practiced.

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                  When I’ve taken risks in my life, the successful ones always seemed to happen when I followed the muse. Steven Pressfield describes the muse,

                  “The Muse demands depth. Shallow does not work for her. If we’re seeking her help, we can’t stay in the kiddie end. When we work, we have to go hard and go deep.”

                  The muse is a goddess who wants our attention and wants us to work on our passion.

                  If you’re taking a risk in anything, it’s assumed that there is some passion built up behind that risk. That passion, deep inside you, is the muse. Trust it, focus on it, listen to it.

                  The most successful articles and stories I write are the ones I’ve focused all my attention on. There were no interruptions during their creative development. I didn’t check my phone or go watch my Twitter feed. I was fully engaged in my work.

                  Trust the muse, focus your attention on your risk, let the ideas and path develop themselves, and leave the distractions at the side of the road.

                  3. Remember to Be Authentic

                  Taking a risk and then turning into something you’re not, is only going to lead to disaster. Whether you are risking a new relationship or new opportunity, you must be yourself throughout the entire process.

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                  How many times have you acted like you loved something just because the men or woman you just started going out with loved it?

                  For example, I’m not an office worker. I have an incredibly hard time working in a confined timeline (ie. 9-5). That’s why I write. I can do it whenever the mood strikes, I don’t have somebody breathing down my neck, telling me that I’m five minutes late, or missed a comma somewhere. I don’t have to walk on eggshells wondering if what I’m writing will get me fired or make me lose a promotion. I can just be myself, period.

                  One girlfriend didn’t understand that. She believed solely in the 9-5 motto, specifically something in human resources because that was a very stable job. I was scared for my future, but I stuck with the relationship because of my own insecurities and acted like I would do it to make her happy.

                  Here’s a tip: NEVER take away from your happiness to make somebody else satisfied (note I didn’t say happy).

                  Making somebody else happy will make you happy. Doing something to satisfy somebody is murder on your soul.

                  4. Don’t Take Any Risks While You’re Not Clearheaded

                  I’d been considering the risk for a couple weeks. It all sounded good. I was 22 and I could be rich in a couple of years. That’s what they were selling me, anyways.

                  One night, while at a house party with some friends, I found myself at a computer. A couple of my friends were standing nearby and asked me what I was doing. I told them I was considering starting my own business and it was only going to cost me $1,500.

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                  Of course, when a bunch of drunk people are surrounded by more drunk people, things get enthusiastic. It sounded like the best business venture in the world to everybody, including me. So I signed up and gave them my credit card number.

                  A few painful months and close to $4,000 dollars lost later, I quit the business. I was young and fell into the pyramid scheme trap. It was an expensive drunk decision.

                  Drinking heavily and making decisions has a proven track record of failure. So when you have something important to decide, don’t let your emotions take over your brain.

                  5. Fully Understand What You’re Risking

                  It was the start of my baseball comeback. I got a tryout with a professional scout and killed it. After the tryout, he talked to my girlfriend and myself, making sure we understood I would be gone for up to 6 months at a time. That strain on the relationship could be tough.

                  We understood. I left to play ball, chose to stay in the city I played in, and a year later we broke up. Not because of baseball, see point 3 above. Taking big risks can have massive impacts on everything in your life from relationships to money. Know what you’re risking before you take the risk.

                  If you believe the risk will be worth it or you have the support you need from your family, then go ahead and make the leap.

                  You can get more guidance on how to take calculated risks from this article: How to Take Calculated Risk to Achieve More and Become Successful

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                  6. Remember This Is Your One Shot Only

                  As far as we know officially, this is our one shot at life, so why not take some risks?

                  The top thing people are saddened by on their deathbeds are these regrets. They wish they did more, asked that girl in the coffee shop out, spoke out when they should have, or did what they were passionate about.

                  Don’t regret. Learn and experience. Live. Take the risks you believe in. Be yourself and make the world a better place.

                  Now go ahead, take that risk and be successful at it!

                  More About Living Your Best Life

                  Featured photo credit: Unsplash via unsplash.com

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