This is how long it takes to translate financial documents

The translation of financial documents is often time-constrained, but there is usually no reliable guideline as to how fast a translator can translate their document.

As a general guidance, a translator can translate 2,000 to 3,000 words a day (without using any computer-assisted tools.)

However, in practice, translation turnaround time depends on a variety of factors, where speed of the translator is only one piece of the puzzle. In this post below, we’ll list out some major factors that influence turnaround time, as well as average turnaround times for different financial translation projects.

3 Factors that Affect Translation Turnaround Time

1. Complexity of document

Certain documents require a greater level of expertise to translate than others. For example, if a research report contains a variety of industry-specific terms, a professional translator will need to spend time researching and understanding the usage of the terminology. Another such example is if a document contains many charts and tables, a translator will need time to recreate the charts, tables, and/or graphics.

2. Level of Repetition

If a document contains repetitive words and phrases, it will require less effort and time to translate such document. For example, offering documents relating to a financial instrument (bonds, shares, unit trust etc.) often contain highly repetitive descriptions about the financial instrument. A high level of repetition can result in a quicker turnaround time.

3. Translation Tools

Certain translators will use translation specific software tools to improve their productivity and reduce the time required to deliver the work. For example, the use of translation memory, artificial intelligence (AI) based translation models, and document translation software can significantly reduce a translator’s workload.

Below is a table setting out the average translation turnaround times for a variety of professional documents drawn from our surveying of translators making up decades of experience translating financial and legal documents: