(BOSTON, MA) – Global business depends heavily on the translation and localization services industry, which market research firm Common Sense Advisory estimates will generate US$26 billion in 2010. And, as globalization increases, more content is created in more languages than ever before. These two factors help to explain the findings of “Language Services Industry Compensation,” the latest report from Common Sense Advisory.
The new research, based on a survey of 1,037 people in 64 countries, reveals that individuals employed in the language services industry continued to see pay raises and increased demand for their services throughout the economic downturn.
“On average, translation and localization workers expected to receive annual compensation of US$63,130 in 2010, compared to US$60,673 in 2009,” observed report lead analyst and Chief Research Officer Nataly Kelly. “The language services market grew steadily throughout the recession, and salaries continued to increase throughout this period as well.”
Key research findings include:
· Compensation in emerging markets is rising at a faster pace. Translation professionals in China saw their income grow by 46.09%, while those workers living in Russia, Brazil, Israel, and Romania also saw increase in excess of 25%.
· Job title and location determine pay grade. In North America, the most highly paid individuals worked in executive management, sales, and content creation. In Asia, those working in compliance, customer support, and human resources reported earning the most. In Europe, the workers with the highest compensation were found in executive management, sales, and account management.
· Large companies have been giving better raises. Professionals experiencing the largest increases in pay were those working at firms with US$100 billion or more in revenue – those individuals saw their pay rise by 17.37% from 2008 to 2010.
· Gender disparities exist. Across the global sample, men earned an average of US$65,901 compared with women, who earned just US$55,790. However, in six countries – Denmark, France, India, Singapore, South Africa, and Switzerland – women earned more than men during each of the three years analyzed.
“While most translation and localization professionals saw wage increases, earning levels fell for workers located in some countries, such as Ireland and South Africa,” Kelly points out. “Still, on the whole, compensation on both the supply and the demand sides of the language services market grew steadily throughout the economic downtown, reinforcing our past findings that this is a recession-resistant industry.”
For more on the firm’s research, visit www.commonsenseadvisory.com.
About Common Sense Advisory
Common Sense Advisory, Inc. is an independent research and analysis firm specializing in the on- and offline operations driving business globalization, internationalization, localization, translation, and interpretation. Its research, consulting, and training help organizations improve the quality of their global business operations. For more information, visit: www.commonsenseadvisory.com or www.twitter.com/CSA_Research.