How Much Does Being Bilingual Increase Your Pay?
Being bilingual in today’s globalized market is a more significant professional advantage than ever. It is not only a valuable life skill, but it can also significantly improve your earning potential. But how much does being bilingual increase your pay?
Generally, it depends on several factors and how specialized the job role is. And as a global, multicultural firm, Afni understands the importance and value bilingual speakers bring to the workforce.
We will delve into the value of bilingualism in the globalized job market and its impact on the earning potential of individuals proficient in two or more languages. Read on to discover how much more do bilingual employees make!
Source: shutterstock.com / Photo Contributor: Aksonsat Uanthoeng
The Value of Bilingualism in the Job Market
With the globalization of the job market, bilingualism is an expectation more than a bonus skill. Today, more and more job listings require speaking a second language.
The increasing demand for bilingual employees, especially in the United States, is at an all-time high. This is largely due to the fact that only around 20% of the United States population can fluently speak a second language.
If you are in this group, you have a highly marketable skill that puts you ahead of 80% of the monolingual population. Due to this, jobs for bilingual people tend to offer higher salaries.
Employers see bilingualism as a significant and highly sought-after professional advantage. Bilingualism is especially in demand in industries where effective communication is vital. Some industries where bilingual skills are highly valued include the following:
- Customer service
- Healthcare
- Insurance
- Marketing and sales
- International businesses
Salary Benefits: How Much Does Being Bilingual Increase Your Pay?
General salary increase
Do bilinguals get paid more? The short answer is yes. On average, bilinguals earn 5% to 20% more than their monolingual counterparts.
What fuels the earning potential even further is the fact that around 60% of employers in the United States prefer bilingual employees. Industries that offer higher salaries for bilingual employees include international business, healthcare, customer service, etc.
Bilingual employees take on more work responsibilities than their monolingual colleagues. They communicate with people in both languages and often even act as translators for their colleagues. Their wages match their responsibilities.
Premium for specialized roles
Most companies are either striving to or already serving a global client list, which means that they are searching for bilingual employees to serve their global clients. The increase in pay rises even more for roles requiring specific language skills, such as:
- Translators
- Interpreters
- Bilingual customer support
In the United States, Spanish is a highly sought-after language, as more than 17% of the population are Hispanic individuals. But do you get paid more for speaking Spanish? The answer is a resounding yes!
Bilingualism in global or multinational companies gives you an advantage in terms of promotions and increased pay. In other words, employers who want to advance their company will pay more for more capable employees, which will help them achieve their goals.
Factors That Influence Pay for Bilingual Employees
Bilingual pay depends on more factors, including:
- Job role and responsibilities - Bilingual jobs, like customer service or sales, demand frequent communication in a second language. Bilingual employees communicate with a diverse clientele, so their wages are often higher.
- Industry - The demand for bilingual employees is incredibly high in hospitality, healthcare, and international business industries. These industries heavily rely on bilingual employees, who have a professional advantage.
- Location - The increase in pay for bilinguals also depends on the geographic location. For instance, if the business is located in a diverse community, the bilingual pay will be higher.
- Fluency level - Another factor that influences the pay of bilingual employees is the fluency level in both languages. Fully language-fluent employees can communicate more effectively with clients in both languages, which boosts their earning potential compared to those with conversational fluency levels.
Source: shutterstock.com / Photo Contributor: Krakenimages.com
Find Your Next Bilingual Job With Afni!
So, how much does being bilingual increase your pay? The amount of money you earn by being bilingual depends on several factors. This includes your fluency level, job role, industry, and location.
Companies offer increased salaries to bilingual employees who can effectively communicate in both languages. On average, bilingual employees earn 5% to 20% more than monolinguals.
If you are fluent in two or more languages, take advantage of your skill set. You can explore and apply for one of Afni’s various bilingual job listings. Learn more today and start your career as soon as possible!
Author
Samantha Byard is the Recruitment Marketing Manager for Afni and brings a wealth of knowledge and tips for job seekers. She holds a bachelor's degree in public relations and marketing from Mount Saint Vincent University as well as a masters degree in digital marketing and advertising from Liberty University.
