Tag Archives: financial

Today’s special: niche soup


The standard advice to any translator trying to move upmarket is to specialise. It obviously makes sense – you should be able to produce a better standard of work, command higher fees and build stronger relationships with your customers. However, I sometimes wonder if this advice gives the misleading impression that the translation industry (and the world) can be separated into distinct niches.

I am currently working on an expert witness opinion for a claim for damages.

Legal, right?

But legal texts are never just legal: laws, disputes, contracts are almost always about something in the real world (the exception, I guess, are laws whose sole purpose is to regulate the legal system). In this case, the expert witness opinion is about an industrial property dispute.

So it’s industrial property.

Not so fast. This industrial property dispute is between two (groups of) pharmaceutical companies.

So it’s pharmaceuticals.

Or maybe not. Most of the details of the expert witness opinion actually relate to the financial impact of the disputed behaviour in terms of loss of earnings, impact on market share and so on.

So my legal text is actually a legal-industrial property-pharmaceuticals-corporate finance text.

The world is a messy place. And sometimes the translation industry is, too.

The limits of specialisation

The notion that translation neatly falls in to specialist and general has always struck me as pretty dubious. After all, just about every text is about something (and is therefore specialist or even technical to some degree). And on the rare occasions when I have been asked to translate a truly non-specialist text it has usually turned out to be a nightmare – the absence of any identifiable content just forcing me to focus all of my brainpower on ensuring that the right ‘message’ comes across without any tangible hooks to hang it on.

Another problem with the notion of translation as a discipline that divides neatly into specialisms (medical, legal, financial) is that the real world is far messier than that. I often translate investor reports for a pharmaceutical company. Financial or medical? Both.

And this issue was brought home to me with particular force over the weekend when I sat down to translate a commercial contract. Legal, you would have thought. But the contract included a 3-page list of items such as the following:

  • Equipos de sonido
  • Equipos de luces
  • Transporte de equipo de sonido y luces
  • Sound equipment
  • Lighting equipment
  • Transport of sound and lighting equipment

If all texts are about something (and thus specialist) then it is also true that a lot of specialist texts are also about something other than their own field and thus encompass two or more specialisms. Contracts are legal texts (and thus assigned to legal translation specialists) but the contract itself necessarily relates to something else – in this case, the organisation of a series of concerts – with the associated specialist terminology. Financial reports, likewise, report on the activities of specific companies and thus, necessarily, include specialist terminology relating to the company’s field of activity. In practice, this means that you will usually have to handle both the specialist terminology of finance and the specialist terminology of whatever activity the company engages in.

So let’s hear it for all of the ‘general’ translators out there – we are the true specialists!

Financial training under the radar

There’s a strong trend towards validated continuing professional development (CPD) in the translation profession. While I think this is generally a good thing – who would argue against keeping your skills and knowledge up to date? – I sometimes wonder whether the emphasis on official courses, certified seminars and the rest is altogether healthy. If I’m honest, this kind of thing makes up a tiny proportion of the skills development required to keep translators up to speed (and improving) in the modern world.

So here is a little list of my “under the radar” financial training for this year (no certificates or courses, just a list of bloody good finance books and blogs that I’ve read during 2015):

  • Monevator – probably the UK’s best investment blog: an informal, one-stop investment studies university
  • The Incredible Shrinking Alpha, Swedroe, L.
  • Irrational Exuberance, Shiller, R.
  • Stocks for the Long Run, Siegel, J.
  • Sterling Bonds and Fixed Income for the Private Investor, Glowrey, M.
  • All About Asset Allocation, Ferri, R.
  • Rational Expectations: Asset Allocation for Adults, Bernstein, W.
  • Smarter Investing, Hale, T.
  • The FT Guide to Exchange Traded Funds, Stevenson, D.
  • D-I-Y Pensions, Hulton, J.
  • Investing Demystified, Kroijer, L.

There’s two ways to think about my slightly chaotic financial self-education. If you’re into things being validated and rubber-stamped, you might worry that my curriculum has some missing elements. But if you care about motivation and passion – and these, surely, are the key ingredients to any effective education – then my list has one really big plus: these are all books that I have read because I wanted to.

Investment management

In June I completed a short online course in investment management, delivered by the Open University through the FutureLearn platform. Course content included investment products, tax and pension legislation, asset allocation and portfolio management.