Starting salary for finance translation in Germany?
Thread poster: dekrafft

dekrafft
German to English
+ ...
Jul 21, 2003

Greetings all,

apologies if I'm not posting this in exactly the proper place - and that I'm not aiming at freelancing - but I just found this web site and have a rather burning question: does anyone have a decent idea of a suggested salary for a translator in the finance sector for a big (German) multinational? I'm American, studied German and Russian, and have a couple of months experience in technical translation with an American multinational - but that was a beginner's job, base pay was $15/hour. Have a good amount of experience with German finance terminology. For a 40-hour-a-week position I'm thinking of suggesting 25,000 Euro per annum - which sounds low to me but then I certainly don't want to overdo it. Any tips? State a low number with a mention that it could be re-negotiated at a later date based on performance?

And, just out of curiosity - is there a distinct difference in rates between multinationals and "normal" companies, provided one does essentially the same quality of work?

Thanks in advance for any advice.


 

Lucinda Hollenberg  Identity Verified
Local time: 04:57
Dutch to English
+ ...
Too low I think Jul 21, 2003

I think that your amount per annum is too low. When I worked for a supermarket chain in the South Eastern part of the USA as a full-time in-house technical translator I was making USD 36500/year plus benefits. And that was three years ago. So, you can definitely go higher.

Good luck on your new job!
Lucinda


 

AmiHH  Identity Verified
Germany
Local time: 09:57
Member (2008)
German to English
That's Low Jul 21, 2003

I'd say that is quite low. Freelancing as a financial translator you can make twice that much. Subtract expenses and you still come out ahead as a freelancer if you ask for that low of a figure.

I found a Kienbaum figure online for average salaries for translators. It said the range was 2556 (starting) to 2990 a month for general translators. That would be 30672 based on 12 months or 33228 on 13 (more likely)...or 35880/38870.

I'd ask for at least 30,000. But what do I know? I don't know any translators employed at companies.

Good luck!

AmiHH


 

Alison Schwitzgebel
France
Local time: 09:57
Member (2002)
German to English
+ ...
A few years ago I heard..... Jul 21, 2003

A few years ago I heard that translators with the big banks in Frankfurt were getting around DM 5000 - 6000 per month (plus min. 24 days vacation, plus 13th month's salary, plus bonuses, plus use of fitness facilities, plus free travel to work, plus.....)

But that was a few years ago and now the banking bubble's burst. Dunno what they're offering now.

HTH

Alison


 


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