Finance and Banking Translation
Translation in the Finance and Banking Industry
Translators and translation firms can either work on a broad range of jobs or they can specialize in a certain industry. One industry that many firms and individuals focus on is that of finance and banking. Translation workers in this industry have a job that is unique as compared those in other industries, due to the nature of the language of finance. This could be both a negative and positive thing, depending on the personality of the translator. On the plus side, with the growth of globalization, financial translators are in demand.
What They Do
What does a translator in the finance and banking industry do? Usually, they translate content from one language to another neatly and accurately, just like any other type of translator. However, their job is somewhat different than those of translators with other specializations. This is because of the unique terminology that is used in finance. As anyone who is in the finance industry knowns, there are a lot of different financial terms that are not used commonly. Often, there are many terms that don’t have an equivalent in another language, especially when you are translating from English to a different language. To make it more complicated, the world of finance and banking is constantly adding new words to its already large list of finance terms. This means that not only do you have to know enough about finance to understand it and its terminology, you also have to know a lot about the language that you are translating to so that you can find appropriate words to use. While this may be a challenge, it’s a satisfying task to be able to accomplish.
As with other types of translation works, if you are a financial translator, you have the option to either work as a freelancer, directly for a company, or as part of a translation firm. As far as who would pay you to do the work, there are many options out there. Every company needs financial services, no matter how small. Since there are many companies that interact with people on a global basis, logic follows that many people are in need of financial translation services. On top of that, you should know that, according to Indeed.com, financial translators make, on average, $98,000 a year. By most accounts, that’s a pretty decent salary!
Depending on your passions and interests, you might decide that you want to go into translating in the finance and banking industry. If you do, know that the work might be difficult and you need a good background in finance – especially when it comes to terminology. It will be very rewarding, however, and you can end up doing something you love and making good money for it.