Comments on: Should we care how much other translators charge?

By: Who cares what other translators are doing wrong?

Who cares what other translators are doing wrong? — Wed, 26 Oct 2011 03:13:20 +0000

[...] Ryan says: I generally have no problem with what other translators want to charge, and wouldn’t take kindly to other translators trying to dictate how much I should charge. If another translator can offer the same quality as me and charge less, good for them. If there are enough cheaper translators that all the demand in my segment is taken, then I need to lower my rates. Conversely, if there aren’t enough translators, and clients are asking me to do more work than I can handle, then I need to raise my rates. [...]

By: Milatova

Milatova — Mon, 16 Aug 2010 10:15:16 +0000

Well, maybe qualified translators should unite to let the world know that using lousy translations can cost you your business abroad, as indicated by the EU report
http://www.articlesbase.com/international-business-articles/the-steep-hidden-costs-of-free-translations-2909135.html

By: Faisal

Faisal — Fri, 10 Jul 2009 07:31:45 +0000

Highly informative post and discussion. Thanks. I have always believed in the philosophy “Live and Let Live” and never bothered about how low other translators were charging. One has to believe in the quality of one’s work and charge accordingly. And yes “inflation” is a very potent reason for convincing clients to pay higher rates.

By: Arkadi

Arkadi — Fri, 19 Jun 2009 11:42:17 +0000

Thanks to everyone for the interesting discussion.
I have also found this approach productive: find a good customer, establish a reputation with them by offering high quality at a reasonable price, identify your customer’s hidden needs and sources of vexation (involves a bit of research) and adapt your services accordingly, make yourself an indispensable part of their business, and negotiate an increase in the rate. I have repeatedly applied this to several customers, each caving in and giving me an average 20% first increase.
And I do agree that higher rates give you more time to improve yourself. So even if initially you work shorter hours, eventually you end up earning more.

By: Mykhailo

Mykhailo — Fri, 12 Jun 2009 18:34:44 +0000

Ulrike Walter-Lipow,

Thanks for your advice. I’ll definitely follow it when I have the steady flow of jobs.
Now all I can do is to indicate the increased rate when asked by new outsourcers.
As I see some of them prefer to look for somebody more suitable in terms of money or qualifications.

Best wishes,
Mykhailo

By: Ulrike Walter-Lipow

Ulrike Walter-Lipow — Thu, 11 Jun 2009 16:26:29 +0000

Mykhailo,
I have been raising rates with my existing clients for years – prices go up everywhere, for everything, and people are used to it. I tell people that due to the increase in living expenses and/or the changes in the exchange rate it is necessary for my to raise my rates. Done. Sometimes I point out for how long they have enjoyed the same rate with me, while most of their other expenses have likely increased, sometimes I don’t. The point is: I charge the rates that I need to provide quality translations and to make a living at the level I want to. If someone does not want to pay those rates, that someone will have to find another translator. It has happened, but over the years, many clients have accepted price increases from me just as they have accepted the prices for milk and gas going up…

Best,
Ulrike

By: Susanne Aldridge III

Susanne Aldridge III — Thu, 11 Jun 2009 14:31:40 +0000

Wonderful post! Yes, information about the prices on the market is important. Getting up in arms and outraged about someone who charges what we consider “too little” gets you nowhere – maybe to the hospital with an ulcer.
I also like that people usually have the heated discussions thinking they can “educate” their colleagues by telling them they don’t charge enough. I am pretty sure most translators are aware how they rank on the price chart for translations and most set their prices relative to their ability, quality and services offered.

By: Mykhailo

Mykhailo — Wed, 10 Jun 2009 15:53:21 +0000

Judy,

Thanks for your advice.
Though I guess it wouldn’t work in my case. I get USD and spend UAH. We’ve had several increases in prices for everything, but the USD rate rate increased as well, say from 5UAH to 7-8UAH per USD. Moreover, I am still hunting clients as I still don’t have a steady flow of jobs. Thus I should be very careful with my existing clients

By: Ryan Ginstrom

Ryan Ginstrom — Tue, 09 Jun 2009 01:00:32 +0000

@Judy

That’s a great point about inflation. The thing is, Japan has been in deflation for around 15 years. That trend was kind of reversing over the past couple of years, but is back strong now. So maintaining your income over this period meant that your purchasing power was continually improving. The only problem is that every time I travel back to the United States, I’m surprised at how expensive everything is.

By: Judy Jenner

Judy Jenner — Tue, 09 Jun 2009 00:19:38 +0000

Interesting perspectives on one of our favorite topics: pricing. We agree with you: we do think it’s good to know what others charge. In terms of general economics, price transparency is a good thing. The problem with lowering your prices is that there’s always be someone who does it cheaper. Ideally, our hope is that everyone will charge adequate rates for professional services, thus preventing customers from expecting a translation at 2 cents a word. We’d like to get us to the point where other professionals are: everyone in the marketplace expects that lawyers are expensive, and that’s just the way it is for professional services. In our humble opinion, by fellow linguists charging lower prices (undercutting), we are setting up a slippery slope for the profession.

Loved your point about made-in-Japan English. Gentle client education is always a good idea, but sometimes challenging.

We are personally located at the high end of the spectrum, and have traditionally not had trouble finding clients (present recession, a bit of a slowdown now — excluded). In general, our advice is to go high, especially if you are an established, very competent languages professional. Good question from @Mykahailo: one of the things I always talk about it in my workshops is that you really need to raise your rates every year to adjust for inflation. Every business does it, and it’s pretty much expected. We have encountered no resistance on behalf of customers — after all, it’s not an increase in real price; just an inflation adjustment, the same our customers are doing with their customers. If you don’t adjust for inflation, you are voluntarily making around 4% than last year. Now, if you were in-house (like I was), and you didn’t get your adjustment every January, you’d be upset (never happened to me). Now that most of us are both boss and employee, we need to treat ourselves nicely.