Opportunities and Earnings
As a freelance interpreter, you can complete interpretation jobs online and get rewarded per word that you interpret. Unbabel is one of the largest groups of interpreters online with more than 40,000 professional interpreters that work in more than 28 languages. As you gain more experience and become an expert, you can charge more and can earn about $18 per hour. Simultaneous interpreters are the best paid as it is the hardest job, requiring excellent communication skills and perfect language abilities.
Job growth over the next eight years for interpreters and translators is projected at 19%, which is much faster than average. PayScale reports that interpreters make between $25,000 and $83,000 in annual wages. Entry level interpreters make an average of 9-19% less than more experienced interpreters, and interpreters who speak in-demand languages are likely to make 11-29% more than others.
If you become certified and speak multiple languages, you can charge more as a freelancer. The interpreter hourly rate varies based on demand and location. You can increase your earnings by working longer hours, specializing, and securing lucrative contracts.
Growth and Demand
Yes, interpreters will continue to be in demand as the world becomes more globalized, with a projected job growth of 24 percent from 2020 to 2030. About 10,400 openings for interpreters and translators are projected each year, on average, over the decade.
According to ZipRecruiter, New York pays 18.7% more salary than the national average to interpreters and is a great state to settle in as an interpreter.
You can expect to earn $12 to $30 per hour as an interpreter, depending on the demand of the languages you speak, your experience, and qualifications.
Getting Started
If you’re interested in becoming a freelancer in this field, here are some basic steps you should follow to start your career as an interpreter:
- Obtain an education.
To work from home as a remote interpreter, you may be hired full-time or work on-demand for several clients, usually on a per-job or hourly basis. As an independent contractor, you have to do your own taxes and bookkeeping.
High-Paying Interpretation Specializations
- Simultaneous Interpreting: This specialized field requires interpreters to listen, translate, and speak simultaneously.
Arabic language skills might help you earn a higher salary than German language skills, depending on your specialization. Here’s a look at the four highest-paying jobs for interpreters:
- Simultaneous Interpreting
- Localization Translator: Localization translators are in high demand as brands turn their attention toward global audiences. They help brands establish a presence in foreign markets, tailoring content to suit the needs and expectations of foreign audiences.
Salary and Job Outlook
Translators earn an average salary of $46,145 per year. The experience level and specialty can greatly influence income. Depending on your expertise, you could earn between $70,000 and $180,000 per year, with top-tier simultaneous interpreters earning up to $500,000 per year.