There are several factors that contribute to the relatively low salary of translators compared to other professions. One reason is the high supply of qualified translators due to the growth of globalization and the increasing demand for language services. This has led to a competitive job market and lower salaries for translators. Additionally, many translators work as freelancers or independent contractors, which often results in lower pay and fewer benefits compared to full-time employees.
Another factor is the limitations in survey methodology used by the US Bureau of Labor Statistics (BLS) to determine the prevailing wage rate for translators and interpreters. This has resulted in inaccurate data on the actual median annual pay for US translators and interpreters, which may contribute to the perception that they are low-paid professionals. However, it is important to note that the salary for translators can vary depending on their experience, language proficiency, and the industry they work in. Some translators may earn higher salaries in specialized fields such as medical or legal translation.