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According to translation market analysis, being a successful translator is not only very challenging but also very rewarding as long as the translator is translating the right languages and is accessing the right market.
Supply and Demand Analysis
At the moment the languages which attract the highest pay for translations include Japanese, Danish, Arabic, and Chinese. Overall, apart from the languages you are qualified to translate your location often determines how much clients will pay you but in the last few years, it’s been discovered that Middle Eastern and Asian languages pay the most in the world of translation.
The most demanded languages in the U.S. are Arabic, Japanese, Danish, and Chinese. Translators who specialize in these particular languages acquire better opportunities and increase the money they earn. If you translate Italian or Portuguese the pay is far less. Other languages found in Europe like French, Spanish and German offer high pay for translations in the USA.
The majority of the best-paid translators possess a solid and successful background in translating and are often referred to new clients by happy past clients. For those languages that are high in demand in the translation services market, a translator can expect to earn between $70,000 and $175,000 per annum.

Advice for those Wishing to be Translators

If you wish to become a sought after successful translator it greatly depends on your ability to accurately, quickly and efficiently roll out a good translation. You need not only to be fluent but you also need to know a lot about the culture of the people who speak your specialist languages.

Choosing a second language

There is no way a language can be suggested for you as it depends on your language background, where you live, who you meet regularly and if you have had an early exposure to a second language like having a family friend or relative who is able to speak another language. If you really want to live or work in a particular country this may influence your choice to learn a specific language. Translation market analysis indicates that translation is necessary for communication on a world scale. Regardless of what language you choose to learn, jobs will be available once you have become proficient enough in the language.
Apart from possessing an academic record that showcases your competence in a second language, if you want to work overseas you have to consider how easy it is to get work permits for the translation services market as you may not get the best openings in your preferred language pair in your native country.