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Thursday, April 17, 2008

Overcoming Pricing Issues as a Newcomer

Photo Credit bbalaji

Overcoming Pricing Issues as a Newcomer

A dilemma that is most definitely faced by every person that comes into
the translation field is to decide upon what rates to quote while
taking up projects. The difficulty lies in not knowing whatever the price
you have zeroed upon is too high, too low or the right one. So how does
one go about fixing a price for the services offered such that it is
not too high or too low?

One method to know more is to become a member of the various
translation websites that are available. Being a member helps you access details
about other members in the website and can give you some know-how about
the average pricing of the others. There are even some tools on
certain websites that will help you calculate the price that you need to
quote keeping in mind some important factors while deciding.

Some even suggest you to think of a figure that you would like to earn
in a month to which certain expenditure like taxes that need to be paid
are added. This figure is then compared with the amount of work load
that you can complete in a working day of around 8 hours. This
comparison can help you arrive at a rate that you need to charge per word to
reach your dream figure every month.

But, some argue that the above method could not be a right indicator
for pricing the services offered as it is valued at expected monthly
earnings which may or may not be at realistic levels.

The following url http://www.translatorsbase.com/statistics/rates.aspx
contains a big list which shows rates for many languages.
Another factor to be remembered while taking up work through
translation websites is that many a times there is a chain of outsourcing of work
before it reaches you. So chances are high that the price at which you
are offered work may be very low. Also, another point to remember is
that agencies generally offer work at much lower prices than when you
get work from clients directly.

So, a good option to get good pricing for your services is to look for
direct clients to provide you work. But, this may be easier said than
done for which you might need to compromise and not be too rigid in
selecting work initially.