Tag Archives: interpreter

International trade for translators and interpreters

Proz Webinar: International Trade

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International trade produces a large volume of documents, which must be written, translated and adapted by specialized professionals. Ignorance of this field can lead to miscommunication and misunderstandings and, too often, to absurd, hardly decipherable translations. Translation agencies make sure to hire interpreters, translators and proofreaders who are familiar with this specialized terminology. Thus, it is a must to learn the concepts and terms of international trade in order to deal with its technical documents. International trade, as part of the business and financial translation, not only directly impacts corporate and business documents produced by import & export companies and banks, but also business and financial media, the translation of Commercial Codes and international organizations’ publications. It is also a very relevant field for interpreters, since they often take part in foreign trade negotiations (trading, bargaining, agreements, disputes, litigations…)

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Target Audience

Newbie translators who wish to specialize in the International Trade sector
Freelance translators specializing in Business and Finance
Interpreters
Project Managers
Proofreaders
Foreign Trade workers (exporters, importers, forwarders, shippers, consignees, traders… )
Finance and business professionals

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Learning Objectives

At the end of this webinar, attendees will have gained a basic understanding of:

  • Terms and concepts commonly used in international trade
  • Documents used in International Trade
  • Main tricks on how to become a translator / interpreter specializing in International Trade
  • How to find comprehensive listings of and links to International trade and business terminology
  • Some clues on how to find a job as a translator/interpreter in this industry

Traducción finanzas

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Marcel Solé is a financial translator, proofreader and trainer. He holds a Higher Technician diploma in Finance, Marketing and International Trade and obtained an International Certificate in Financial English and a Certificate of Proficiency in English (University of Cambridge, Cambridge English). He also obtained a Diploma in Financial Translation from English to Spanish with honors. Marcel has worked ten years as a translator and Project Manager for translation agencies, outstanding business schools —listed among the top 25 by Financial Times and the Economist— and publishing companies. He has been training translators, interpreters and financial professionals over the last years. Marcel is also the author of the blog www.financial-translator.com

Financial Translator

 

Translations with highest rates

Highest paid translations

This post is an attempt to answer a question I have been asked on countless occasions, namely, Which are the highest paid specializations in the translation and interpreting professions? I will try to be brief.

translators training

First of all, needless to say, it is essential for a translator to be highly trained in a given field of specialization; and it is highly recommended to train constantly and keep up with updates within such field. Agencies and end clients highly value this trait. Once the translator is feeling confident, it is advisable to start with small translations and from the very beginning to start creating translation memories (preferably, one for each company or client).

Returning to the issue at hand, although much depends on the type of end clients or agencies (and the country in which they are located), the most interesting specializations concerning fees include:

Pharmaceutical Translation: With rates around €0.10, €0.12 or €0.15 /word (approx. $0.18). The interpreters at medical conferences enjoy very good fees, but it is a quite difficult area to access.

translators and interpreters
Pharmaceutical translation

Financial Translation: A senior “in-house” translator working in a large company (e.g., an accounting or asset management agency in Spain), can reach €40,000 ($50.100). If the company is located in Luxembourg, Switzerland, Germany or the UK, it is not unusual to find that a financial translator’s payroll could reach €80,000 gross ($100.200). A freelance translator, if working with good agencies or end clients could reach around €50,000 annual gross ($63,000). There are very interesting “sub-specialties” – for example: translating asset management or financial software – with rates that can reach €0.20 ($0.25) /word

asset management
Financial translation

traducción económica y financiera

Interpretation in Foreign Trade: In general fees are high, especially if it involves unusual languages. It all depends on what is considered unusual regarding a given location, for example in Spain a Russian translator of my acquaintance specialized in this area may charge up to €100 ($125) /hour.

cursos para traductores online courses for translators

-Software Localization: It is more like a skill, rather than a specialization. It is a skill concerning ICT that every translator can attain. There is no lack of work within the powerful software and video game industry, and a translator on the payroll can earn around 30,000/40,000€ ($40,000) a year.

translation
Sotware localization

Sworn translation: Much depends on the language combination and if the source language is legal, notarial or of academic relevance within the country. But the added value provided by the sworn translator is indisputable, who can charge up to €0.20 ($0.25) /word.

–  Legal translations: The standard rate for certified translations for Federally Certified Court Interpreter and Expert Witness based in the Southern District of New York is $0.25-$0.27 per word. (Thanks Walter!).

legal translations
Sworn translations

The rates and fees depend largely on the nature of a company and the country where it is located, but with this post I am trying to highlight some of the highest paid translation specializations. Lastly, this post is open to your contributions. If you want to share your experiences, please do not hesitate to leave a message.

* Figures in Euros and US dollars.

gifts for translators ideas funny fun original

Useful links:

List of translators and interpreters associations

financial translation online course English Spanish

 




Alemán Deutch German
          Goethe Institut Online Course

Translations with highest rates:

Spanish version

 Chinese version

By Financial Translator

Traducción e Interpretación en el comercio exterior

Los traductores e intérpretes en el comercio internacional

El comercio internacional o comercio exterior (CEX) genera un gran volumen de documentos, que deben ser redactados, traducidos y adaptados por parte de profesionales especializados. El desconocimiento de este ámbito, genera malas redacciones en inglés y, con demasiada frecuencia, traducciones absurdas difícilmente descifrables. Las agencias de traducción se aseguran de que los traductores, correctores e intérpretes conozcan bien la terminología especializada. Así, es imprescindible familiarizarse con los conceptos y términos del comercio internacional y  con el proceso comercial que implica (desde el exportador al importador, pasando por el transitario, el consignatario, los trámites aduaneros, la documentación, los incoterms…) para lidiar con sus documentos técnicos.


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En el comercio internacional, el intérprete/traductor, se convierte más que nunca en un mediador cultural, y debe tener en cuenta ciertas particularidades que tiene este tipo de interpretación de enlace y la traducción de la documentación comercial y financiera en el ámbito del comercio exterior.

El comercio internacional, parte integrante de la traducción comercial y financiera, no sólo tiene un impacto directo en los documentos mercantiles de empresas del sector y bancos especializados en importación-exportación, sino también en prensa económica, en la traducción de códigos de comercio y en las publicaciones de organismos internacionales como la OMC. También es un ámbito de especial interés para intérpretes, ya que suelen intervenir en negociaciones de comercio exterior.

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Marcel Solé

By Financial Translator
Traducción comercial y financiera