Yahoo Finance DIY pay rise: The language that will bump your salary
Lockdown might have inspired you to pick up an old hobby, or a new skill – but some of these will pay off more than others.
Digital learning platform Preply crunched the numbers on the highest-paying jobs that require different languages, and uncovered the most lucrative languages to learn.
Aussie workers who know Spanish as a second language have the highest potential earnings, with those who speak this European language earning $93,125 on average.
“Spanish ranks the most profitable language in Australia, with trade between Australia, Spain and many Spanish-speaking Latin American companies growing steadily over recent years, offering lucrative job opportunities to Spanish-speaking candidates,” Preply said in a statement.
This language is particularly highly sought-after in the ACT within the healthcare and nursing sector. Engineers and salespeople who know this language are also sought-after.
At $89,044, Polish follows in second place, a somewhat surprising find as not many people around the world speak this language – but makes sense when you understand the different multicultural identities that make up Australia.
“Polish is profitable in Australia thanks to the well-established Polish diaspora, which migrated to Australia after the Second World War and have since fostered strong trade relations between the two countries,” stated the online learning platform.
Administrative officers or assistants who speak Polish are in demand in Queensland, Victoria, and the ACT.
Knowing Dutch, German and Japanese will all earn you more than $80,000 on average.
While many have touted the benefits of knowing Mandarin, this Asian language spoken by 917 million people around the world is only ranked sixth on the list and will earn you $77,220 on average.
This language will serve you well if you’re a healthcare or nurse worker in South Australia.
French, Italian, and Arabic ranked 7th, 8th and 9th on the list.
At the very bottom of the list is Greek: knowing this language will earn you $60,983 on average. Healthcare and nursing workers based in Victoria who know this language will be strong job candidates.
Here’s the full table:
Knowing a second language can help improve your work, health and social life, said Preply CEO Kirill Bigai.
“We believe online learning can offer everyone the flexibility to fit language learning around their busy schedules, whether it be as a hobby, health, or a career investment,” he said.
Does learning a second language actually earn you more money?
While this obviously depends on the industry you work in and your personal circumstances, a few studies have shown that knowing another language can add to your pay packet.
Back in 2010, language specialist recruitment agency Euro London said knowing another language in the realm of sales, marketing or technical support can open doors for you and add 10-15 per cent to your salary.
And if the job actually requires you to know the second language, your earnings could rise by as much as 50 per cent, according to IntelligentHQ.
A 2014 report by The Economist found that knowing certain other languages will give you the following pay bump:
Spanish — 1.5 per cent
French — 2.3 per cent
German — 3.8 per cent
But this also comes down to supply and demand, too.
So which language should you learn? If Spanish doesn’t catch your eye, here’s another way to think about it.
“Look at the world’s largest exporting countries,” said MosaLingua co-founder Luca Sadurny in a post on Medium.
“It could be both rare and interesting to speak the language of a country that is known for exporting a lot of goods, such as many Asian countries.”
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