A financial translator is involved in all types of banking activity, tax, stock market and more general economic activities. Here are five tips to focus in this specific area.
Many translators start as general practitioners and then specialize in more advanced fields such as medical, legal or even financial translation. Financial translators are involved in all types of banking activity, tax, stock market and more general economic activities. They are increasingly in demand and their salaries are attractive, but becoming a financial translator is not within reach for every newcomer… Here are a few tips to specialize in finance.
1. Train yourself, in translation like in finance
A university degree is generally required for those who want to become a translator. You have the choice between a university degree in linguistics and translation or receiving a degree in different financial subjects that interests you more, by joining a business or management school or by following an accounting or financial studies course… you will be able to use this later to develop translation skills.
2. Master your area of expertise
To be a financial translator, it`s necessary to have the experience to decipher investment fund management reports, stock market analyses or macroeconomic studies in fields as varied as finance, insurance, accounting, auditing… so you should know what you´re talking about! In other words, a financial translator is also an accountant, an investor, an insurer… To keep up-to-date with the latest events, you should rely on the English-speaking press! Forbes, the Financial Times, the Wall Street Journal, are the best-known publishers, or even The Economist and Business Week are essential references in the world of finance.
3. Identify your limits and priorities
You need to ask the right questions before you start. How much time are you ready to dedicate to your training? Are you able to take responsibility where millions are gambled? How far are you willing to go? First of all, you must prove your talents as an expert before showing your talents as a translator. Training may be long but it’s worth the risk. In 2011, the average weekly salary in this sector was $1230.
4. Be mobile
The world of finance is always moving. From tabloids to currency conversion rates, you’ll have to constantly adapt to the changing variables. If you are ambitious and want to work for big financial companies or insurance banks, you will need to evolve with the charts and graphs, sometimes you might need to move away and settle where your business is focused!
5. Join financial translator associations
Some companies can ask if the translator is a member of an association of translators, terminologists and financial interpreters. Those who are not graduates of these institutions can obtain equivalents. But these associations also form an interesting network which can enable you to find a job more effectively. Or why not create your own practice of financial translators?
It’s an increasingly in demand profile from various financial institutions and income can quickly increase for those who combine linguistic and financial specialties.
Translation into English: Chloe Findlay
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