{"id":1808,"date":"2022-08-29T18:26:21","date_gmt":"2022-08-29T18:26:21","guid":{"rendered":"https:\/\/www.languagetesting.com\/blog\/?p=1808"},"modified":"2025-12-16T20:16:41","modified_gmt":"2025-12-16T20:16:41","slug":"multilingualism-in-the-financial-industry-is-a-valuable-asset","status":"publish","type":"post","link":"https:\/\/www.languagetesting.com\/blog\/multilingualism-in-the-financial-industry-is-a-valuable-asset\/","title":{"rendered":"<small>Multilingualism in the Financial Industry Is a Valuable Asset<\/small>"},"content":{"rendered":"<p>Are you a bilingual or multilingual professional looking for a career change or an advancement opportunity? If you command a second language or several languages, you should consider looking into the finance and accounting sectors, considered to be among the most lucrative fields to work in. With the <a href=\"https:\/\/www.languagetesting.com\/blog\/providing-financial-services-in-various-languages-is-not-a-temporary-trend\/\">continuous growth of multilingualism<\/a> in the U.S., businesses are becoming increasingly aware of the evident need of hiring talent that speaks more than one language. Commercial banks, investment institutions, wealth management firms, and other organizations in the financial arena have acknowledged the current economic landscape that is driven by a diverse marketplace.<\/p>\n<p><a href=\"https:\/\/www.languagetesting.com\/certifications-tests\/test-information\"><strong>Certify Your Language Skills Today<\/strong><\/a><\/p>\n<p>\u201cThere are literally millions of Hispanics in the United States today, who need to file their taxes just like everyone else. If they can communicate with someone at the accounting office clearly, they are much more likely to do business there,\u201d according to <a href=\"https:\/\/www.bilingualcrossing.com\/article\/1150028\/Bilingual-People-Are-Needed-in-Finance-and-Accounting\/\" target=\"_blank\" rel=\"noopener\">Bilingual Crossing<\/a>, a platform that highlights job opportunities for multilingual professionals.<\/p>\n<p>There are two jobs that stand out in the financial world for people who speak a two or more languages \u2013 investment bankers and financial advisors. While financial advisors work with individuals and their personal finances and needs, investment bankers help companies, giving assistance in different transactions (<a href=\"https:\/\/work.chron.com\/financial-advisors-vs-investment-bankers-8502.html\" target=\"_blank\" rel=\"noopener\">Gresham<\/a>). In either case, communicating financial information is communicating sensitive information for which <a href=\"https:\/\/www.languagetesting.com\/blog\/the-power-of-language-in-the-financial-industry-to-help-mitigate-the-wealth-gap\/\">accuracy and clarity is of the utmost importance<\/a> in any language.<\/p>\n<p>A <a href=\"https:\/\/www.leadwithlanguages.org\/wp-content\/uploads\/MakingLanguagesOurBusiness_FullReport.pdf\" target=\"_blank\" rel=\"noopener\">survey<\/a> conducted by Ipsos Public Affairs for ACTFL highlighted that the demand for foreign language skills will continue to grow in a multicultural and multilingual economy where 65 million residents in the United States speak a language other than English. The survey\u2019s report states, \u201cThis strong and growing demand for foreign language skills is a natural result of evolving conditions in the U.S. marketplace.\u201d<\/p>\n<figure id=\"attachment_1810\" aria-describedby=\"caption-attachment-1810\" style=\"width: 208px\" class=\"wp-caption alignleft\"><img fetchpriority=\"high\" decoding=\"async\" class=\"wp-image-1810 \" src=\"https:\/\/www.languagetesting.com\/blog\/wp-content\/uploads\/2022\/08\/survey-finance-blog-251x300.jpg\" alt=\"statistics 9 our of 10 employers rely on employees with language skills other than English 56% say their foreign language demand will increase in the next 5 years\" width=\"208\" height=\"249\" srcset=\"https:\/\/www.languagetesting.com\/blog\/wp-content\/uploads\/2022\/08\/survey-finance-blog-251x300.jpg 251w, https:\/\/www.languagetesting.com\/blog\/wp-content\/uploads\/2022\/08\/survey-finance-blog.jpg 399w\" sizes=\"(max-width: 208px) 100vw, 208px\" \/><figcaption id=\"caption-attachment-1810\" class=\"wp-caption-text\">What Foreign Languages Mean for U.S. Employers<\/figcaption><\/figure>\n<p>Demographics and statistics regarding finance professionals in the U.S. provided by <a href=\"https:\/\/www.zippia.com\/finance-professional-jobs\/demographics\/\" target=\"_blank\" rel=\"noopener\">Zippia<\/a> research reflects that the most prevalent foreign languages spoken by finance professionals are Spanish at 42.8%, Mandarin at 10.2%, and French at 7.5%. Chinese and Russian follow at 6.4% and 4.3%, respectively. It is worth noting that most finance professionals are in New York City, and Austin, TX. Texas and New York are two of the top ten states with the highest Spanish-speaking populations in the U.S. Another finding raised by the research indicates that the top 10% of highest-paid finance professionals earn as much as $104,000 or more. In essence, being bilingual or multilingual can be beneficial for career advancement and to secure higher wages in the financial industry.<\/p>\n<p><strong>Read more &#8211;&gt;<\/strong> <a href=\"https:\/\/www.languagetesting.com\/blog\/why-it-pays-to-be-bilingual\" target=\"_blank\" rel=\"noopener\">Why It Pays to Be Bilingual<\/a><\/p>\n<p>If you command more than one language and are pursuing job opportunities in the finance sector, contact <a href=\"https:\/\/www.languagetesting.com\/\" target=\"_blank\" rel=\"noopener\">Language Testing International (LTI)<\/a> today to formally assess your language skills. LTI, an exclusive licensee of ACTFL assessments, offers valid language credentials in over 120 languages, providing multilingual finance professionals with the necessary language certification to boost their resume and make them a more attractive candidate for employers.<\/p>\n<p><strong>Watch &#8211;&gt;<\/strong> Why You Should Certify Your Language Skills<\/p>\n<p><iframe title=\"Is a language certificate worth it? Reasons why you should certify your language skills\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/tTTY1PKQlc0?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p><strong>Sources<\/strong><\/p>\n<p>American Council on the Teaching of Foreign Languages (ACTFL) and the Lead with Languages Campaign commissioned Ipsos Public Affairs, with the support of Pearson LLC and Language Testing International<em>. <\/em>(2019).<em> \u201c<\/em>Making Languages Our Business: Addressing Foreign Language Demand Among U.S. Employers.\u201d <a href=\"https:\/\/www.leadwithlanguages.org\/report\" target=\"_blank\" rel=\"noopener\">https:\/\/www.leadwithlanguages.org\/report<\/a><\/p>\n<p>Bilingual Crossing. \u201cBilingual People Are Needed in Finance and Accounting.\u201d <a href=\"https:\/\/www.bilingualcrossing.com\/article\/1150028\/Bilingual-People-Are-Needed-in-Finance-and-Accounting\/\" target=\"_blank\" rel=\"noopener\">https:\/\/www.bilingualcrossing.com\/article\/1150028\/Bilingual-People-Are-Needed-in-Finance-and-Accounting\/<\/a><\/p>\n<p>Gresham, Tom. \u201cFinancial Advisors Vs. Investment Bankers\u201d. CHRON. <a href=\"https:\/\/work.chron.com\/financial-advisors-vs-investment-bankers-8502.html\" target=\"_blank\" rel=\"noopener\">https:\/\/work.chron.com\/financial-advisors-vs-investment-bankers-8502.html<\/a><\/p>\n<p>Zippia. \u201cFinance Professional Demographics and Statistics in the US\u201d. <a href=\"https:\/\/www.zippia.com\/finance-professional-jobs\/demographics\/\" target=\"_blank\" rel=\"noopener\">https:\/\/www.zippia.com\/finance-professional-jobs\/demographics\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Are you a bilingual or multilingual professional looking for a career change or an advancement opportunity? If you command a second language or several languages, you should consider looking into the finance and accounting sectors, considered to be among the most lucrative fields to work in. With the continuous growth of multilingualism in the U.S., [&hellip;]<\/p>\n","protected":false},"author":28,"featured_media":1809,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[162,2,195],"tags":[240,289,219,197,263],"class_list":["post-1808","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bilingual-professionals","category-commercial","category-language-proficient","tag-bilingual-professionals","tag-finance-industry","tag-financial-services","tag-hiring-multilinguals","tag-multilingual-professionals"],"acf":[],"aioseo_notices":[],"jetpack_featured_media_url":"https:\/\/www.languagetesting.com\/blog\/wp-content\/uploads\/2022\/08\/finance-blog1-scaled.jpg","_links":{"self":[{"href":"https:\/\/www.languagetesting.com\/blog\/wp-json\/wp\/v2\/posts\/1808","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.languagetesting.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.languagetesting.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.languagetesting.com\/blog\/wp-json\/wp\/v2\/users\/28"}],"replies":[{"embeddable":true,"href":"https:\/\/www.languagetesting.com\/blog\/wp-json\/wp\/v2\/comments?post=1808"}],"version-history":[{"count":14,"href":"https:\/\/www.languagetesting.com\/blog\/wp-json\/wp\/v2\/posts\/1808\/revisions"}],"predecessor-version":[{"id":5133,"href":"https:\/\/www.languagetesting.com\/blog\/wp-json\/wp\/v2\/posts\/1808\/revisions\/5133"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.languagetesting.com\/blog\/wp-json\/wp\/v2\/media\/1809"}],"wp:attachment":[{"href":"https:\/\/www.languagetesting.com\/blog\/wp-json\/wp\/v2\/media?parent=1808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.languagetesting.com\/blog\/wp-json\/wp\/v2\/categories?post=1808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.languagetesting.com\/blog\/wp-json\/wp\/v2\/tags?post=1808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}