Don’t think of language learning as an expense. Think of it as an investment. There may be a big payday at the end.
Here in Canada, it’s well known that English-speakers who know French, and French-speakers who know English often receive higher compensation than those who don’t. But learning other languages can also earn you more money.
Being bilingual can increase your salary by up to 15 percent, according to Euro London, an international, multi-lingual recruiting firm. In addition to more pay, this could mean hundreds of thousands of dollars at retirement time. And this doesn’t count bonuses.
Also, a hiring analysis by CareerBuilder shows that about half of employers would hire a bilingual employee over an equally qualified candidate who is not.
Many studies of employment and compensation data show the following are some of the most profitable languages to learn. Fortunately, Berlitz offers training in each.
German isn’t the most spoken language in the world, but learning German can give you the biggest payback of all, according to numerous reports.
Germany has the fourth strongest economy in the world and the strongest in Europe, according to the investment website Investopedia. It’s place in international business is growing stronger.
It’s also an official language in six countries and one of the three primary languages of the European Union, along with French and English.
All these factors mean those who can speak German can earn more money.
This is an issue of supply and demand. Due to China’s growing economy (second in the world after the U.S.), and the fact that it is the most spoken language on earth, there is a strong demand for Mandarin speakers. But the supply is relatively low.
The need for executive positions in China by multinational companies has risen by more than a third, according to the search firm Ascentator, meaning language skills are even more important.
France has the world’s fifth strongest economy and French is an official language in more than 20 countries.
France is one of the world’s top targets for foreign investment, and many French business people prefer doing business in French.
Again, this is an issue of supply and demand. There is a shortage of Arabic-speaking business people in Europe and the West, despite the Middle East’s increasing influence in international business.
The Middle-East is one of the world’s richest regions (although one could argue most of the wealth is held by a small percentage of the population), and Arabic is one of the world’s five most commonly spoken languages.
Spanish is the fourth-most commonly spoken languages, according to worldbaze.com, a website focusing on world issues. Spanish is also one of the languages people most want to learn. In some countries immigration has made learning Spanish almost necessary.
Some experts say the financial reward for learning Spanish is slightly lower than others due to relatively slower economies and a relatively high number of current bilingual Spanish speakers. According to Forbes, however, others say some Latin and South American economies are ready to grow.