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The arguably most important and clearly most difficult question
faced by newcomers to the translation business is how much to charge. There is
so much uncertainty regarding the “ideal” price that many newbies simplify the
matter to the equation “experience equals price”. I would argue that actually
no real connection exists between experience and price nor should exist.
However, there is a correlation between experience and work load, i.e., new
translators require more time to produce a proper translation.
For better or worse, experience or a lack of it is often not
reflected in the quality of the translation. Specifically, quite a few
translators produce almost the same poor level of work in terms of accuracy and
language throughout their long seemingly successful careers, apparently
learning nothing over the years. By contrast, many new translators with the
knowledge, drive and language required for a task produce excellent work. Since
a customer seeks production of a project, not an employee, years of experience
or lack thereof are simply not a relevant factor in setting a price. What
counts is the ability to produce a proper translation. Therefore, there is no
requirement to factor in a discount for being new to the profession when
setting the price.
Many starting translators believe that the best way to
jumpstart a career is to start with low prices and build up the clientele. This
strategy works well with standard goods when quality is more or less uniform
among suppliers. However, translation, as a service business, is far more
dependent on the skill of the supplier rather than the raw material. Thus,
translation purchasers, lacking other criteria, tend to link quality to price.
In other words, a low price means a rougher translation. This perception means
that beginning translators should set their prices towards the average, not low,
segment of the market. Furthermore, new translators need to be aware how
difficult it is to raise prices, with it often requiring years to persuade clients that the translator is worth the rise to normal rates. As they say in
Hebrew, there is nothing more permanent than the temporary. Therefore, quoting
average prices allows new translators to make a decent income from the start
even if it may take a little longer to build up the clientele.
The most difficult question regarding pricing for a new
translator is how much to ask or, if you will, how much is average. As there is
no market price (see here), any average is at best an estimate for a specific
market. In many countries, translators cannot lawfully openly discuss rates,
making the whole matter even foggier. However, I would recommend privately
asking translators in the market for which the quote is requested and taking
into all factors, including whether the buyer is an agency or end client, the
country of origin and the difficulty of the translation as well as the number
of words, of course. Some open sources of specific rates are proz.com and
agency sites, keeping in mind that the large LSPs tend to have a high profit
margin and pay the translator very little, relatively. Pricing is an art, not a
science, and requires some investigation work.
It should be noted that experience does increase efficiency. As in
most professions, volume leads to greater efficiency up to a certain point.
Experienced translators have seen certain text countless times and do not think
how long to translate it. They handle many the technical issues, including document
preparation and communication, much more effortlessly. They also know what type
of errors they are prone to commit and actively look for them. As a result,
veteran translators can properly finish a project faster, taking into account
all elements of the process. For a new translator, it would be wise to insist
on longer deadlines in order to allow for this inefficiency until the processes
become automatic. Rushed jobs often lead to the long-term loss of customers. In
other words, nobody loses a client because they need extra time but do lose one
if the result is poor. Therefore, those lacking experience should factor this
need for sufficient speed into their quotes by insisting on realistic
deadlines.
Everybody starts at zero. It does not mean that new
translators must or should discount their work because of their lack of
experience as long as they can provide a proper translation. Experience may
allow a person to work faster but not necessarily more skilfully. Of course,
quality takes time, the more so for a beginning translator. Deadlines have
nothing to do with pricing. In short, for those entering the translation
business, charge a professional price but do not take on too much work at a
time.
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