The power of globalization becomes evident with the demand for translations increasing at such a fast rate. Along with this increase in demand has come a marked increase in 6 figure salaries for translators. The key question is how do translators make a lot of money and how much do translators make?
The highest paid translators reach a 6 figure salary for a number of reasons. Some simply charge very high rates, while others are just very good at using technology like speech recognition and CAT tools. There is another group that makes up the highest paid translators and that’s those who typically put in long hours but don’t necessarily charge the highest rates.
Calculating How Much Translators Make
The average full-time translator may find time to translate between 400,000 and 600,000 words every year. If the rate charged is 10 cents per word, it would be necessary to translate nearly double that number of words to reach a six figure amount. That really means charging 20 cents per word at a minimum. A very high rate would be 35 to 40 cents or more. To obtain a 6 figure salary no less than 18 cents per word has to be charged and reaching that golden salary would mean working extremely long hours but in the end they will come out as the highest paid translators.
Who Are The 6 Figure Translators?
These highest paid translators won’t be translating simple documents, but will be specialists in, say, medical or legal documents. By specializing, it’s possible to attract clients who are seeking out translators with better skills than the average. One of the key attributes of a 6 figure translator is that he or she just loves translating so will participate in it as much as possible and become one of the highest paid translators.
How much do translators make to become 6 figure salaries depends on how careful they are when translating and by choosing clients who seek out a quality translation which they are prepared to pay top dollar for. If they get the right clients they can command a higher amount per word with the guarantee that a quality translation will be the outcome.
So how do translators make a lot of money depends on their skills and dedication to getting a quality translation done for their clients. There is no magic path to becoming one of the highest paid translators. It’s just the matter of putting in the hours and using the best technology available so more words can be translated in a given period of time.