Here at the VICI Language Academy we are always telling people about the difference learning a language can make, and for young adults they often want to know if a second or third language is going to make a difference to their career prospects.
Naturally we say it will and through our sister company VICI Language Dynamics where we help business find and train staff with language skills we know there is a growing demand for. However recently Time online published some interesting research.
Wharton and LECG Europe found that studying a second language is correlated with about 2% more in annual income.
Now that might not sound like much, and honestly, anecdotely we have seen language skills command a bigger difference than that, but then as The Economist helpfully points out, allowing for compounding over a career it would just over £40,000. Again we think it would be more.
Of course it does matter what career you choose with everyone from the military through to banks paying more for people with language skills.
Naturally it does depend on the language you learn with Asian languages proving in particular demand although even German will see your earnings attract a 4% premium on typical earnings. In the UK currently, French and German are still the languages most in demand.
Specifically using your language skills is also expected to be a growing sector with the American Bureau of Labor Statistics showing interpreters and translators are among the top five fastest growing occupations, with opportunities expected to increase by 46% between 2012 and 2022. Presumably one of the perks of globalisation will be the need for people fluent in more than one language.
So do you fancy a career in languages? Or how about just increasing your earning potential simply by speaking another language? Rest assured if you come to the VICI Language Academy we can help with a choice of 10 languages on offer and native speakers ready to help you learn.
We can also use our expertise to help you choose a language if you are determined to have a career that is enhanced by being bilingual, so do come and talk to us for the right advice about learning a language.