This is how long it takes to translate financial documents
Published on 18 Mar 09:01 by Sam Yip
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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:
Document type | Turnaround time |
Offering circulars | 1-2 weeks |
Annual reports | 3-4 weeks |
Industry Reports | 2 days |
Equity Research Reports | 1-3 days |
Analyst Reports | 1 day |
Corporate Announcements | 1-2 days |
Corporate Newsletter | 1 days |
Roadshow presentations | 1-2 days |
Marketing materials | 1-2 days |
Pitch books | 2-3 days |
Investment Agreements | 2-3 days |
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TranslateFX develops AI translation technology specifically for financial and legal institutions. The company develops AI models and workflow tools for clients of all sizes. We believe humans always play and important part of the process and our tools reduce the time and costs of translation by 60% or more.
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