Fixing Translation Rates and Prices

As an independent translator one of the most important things to consider is what translation rates to set. A professional translators dilemma is being caught in one of two undesirable situations: ” Am I pricing myself out of the market or I seem to be working all day yet barely making enough to pay the bills?” The following article discusses some of the issues facing the translator when setting their translation rates:

Background and Experience

An experienced translator with an established client base can afford to set higher translation rates than a graduate with little or no experience. The experienced translator has been tried and tested and has the luxury of relative financial security with other clients. They are not desperate for the work. On the other hand an inexperienced graduate with little or no commercial experience is more desperate for the work and they have little or no financial security. This is why their rates are often cheaper.
The area of specialization often affects pricing. Highly specialized fields with a lot of technical jargon like for instance pharmaceuticals, technical engineering, legal and medical translation often require the translator to have a skilled qualification as well as experience in this field. This often leads to fewer qualified translators in this sector leading to higher prices. For example general business texts are less technical with less terminology and most translators can translate them no problem. This means there is a huge supply of translators to choose from leading to lower translation prices in this area.

Language Combination

The language combination has a huge effect on translation rates. It also often boils down to the old case of supply and demand. The more translators there are for a particular language combination the cheaper the prices will be. Certain combinations are simply more competitive than others for translators thus pushing the prices down.
The cost of living in the target language country where more often than not the translator is located influences translation rates. We notice that when the target language is a language from a developing country for instance Spanish translation services for Peru, the rates tend to be much cheaper as the GDP or standard of living in this particular country is very low. The translator can afford to charge much lower translation prices. A hundred EURO in Peru goes a lot further than in Spain.
We also should note that rare language combinations, for example Icelandic to French tend to be more expensive than more common language combinations such as English to Spanish translation. This is of course because there are fewer translators for the Icelandic to French combination so the translator can in effect name his price.

Culture

The culture of a country. For example we notice that German translation rates tend to be much higher than Spanish translation rates. This is down to a number of factors but a major bearing is the simple fact that a German translator will not work for €0, 05 per word whereas it seems to be a standard rate in Spain and Italy. This also ties in with the fact that the cost of living in Germany is much higher. From my experience there seems to be a lot of German translators but they just charge higher rates.
All in all setting realistic translation rates is one of the essentials to a successful translation career as a freelancer. A very low translation quote tends to have potential clients wondering why is this guy so cheap, plus often leaves the translator short of salary whereas too high a translation quote simply prices the translator out of the market. It is indeed a delicate balancing act that must be approached with caution.

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Mark Kieran, CEO, One Stop Shop Translations

One Stop Shop Translations is a translation services company based in Madrid, Spain. If you just want to browse over our translation rates, click here or get a great value personalised translation quote here.

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Expansion of Spanish Translation Services Department - One Stop Shop Translations

One Stop Shop Translations has just announced the expansion of its internal Spanish translation services department. The company operates a strict translation and revision policy where text is translated externally and revised in-house. The internal Spanish translation team has now risen from two to four staff, solely dedicated to revision.

One Stop Shop Translation’s CEO, Mark Kieran says, “With the recent surge in the English Spanish translation demand we had no choice but to expand our internal Spanish translation team to maintain our quality standards. It’s a really encouraging sign of the growth of One Stop Shop Translations over the past two years.”

Now the company covers all Spanish translation sectors such as Banking, finance, eLearning, Information technology, medical translation, business, legal and many others.

No recession for the translation services sector

In today’s climate most industries are experiencing rapid or steady declines. The unlikely scenario of steady growth is occurring in the translation sector.
Studying the translation sector allows us to see the growth of society towards Globalization. The need to cross cultural barriers is at the core of modern business and in this process translators are revolutionizing global communications.

When analyzing the translation services sector a very common term used is language service provider (LSP). Other services provided by LSP’s include interpreting, localization, internationalization and supporting technologies. Interpreting involves the translation of one spoken voice to another. Localization is the process of adapting a product or service to a particular language, culture, and desired local "look-and-feel." Internationalization is the process of planning and implementing products and services so that they can easily be adapted to specific local languages and cultures, a process called localization. Supporting technologies are those that technologically aid a user in learning or honing his or her language skills.

The reason that there hasn’t been much data collected on LSPs until recently is due to the fact that most LSPs were privately held and were reluctant to divulge such information. Recently with acquisitions some LSPs have grown so large that they are now publicly traded. The first data on LSPs was recorded quite recently, in the late 1990s, by the US Census and the US Bureau of Labor Statistics.

Due to this lack of concrete information one can only make general predictions of the annual revenue spent on translation with a 9 to 21 billion dollars being a conservative estimate. Even without these concrete numbers to justify this figure there is no doubt that the importance of the LSP is increasing. Language options on websites, customer service calls and TV are testament to this.

According to Common Sense Advisory, the global language services market totaled $14.25 billion in 2008. Common Sense expects the industry to increase to around $25 billion by 2013, almost 11% five years. In the 2006 the US Department of Labor predicts a 24% increase in the number of US translators by 2016. To understand these statistics more we have a breakdown of the top 30 LSPs per territory.

Asia, $106.3M, 2.8%
Scandinavia, $130M, 3.4%
Rest of Europe, $637M, 16.8%
UK, $565M, 14.9%
USA, $2,334M, 62.1%

When considering these figures it is important to note that the LSP model is more developed in the UK and USA. For instance in mainland Europe there are a lot more sole translators.

While a lot of the growth can be attributed to globalization we cannot forget the importance of the internet. The internet has revolutionized the way that we exchange information and has exponentially increased the amount of information available. Translated information can reach any corner of the earth with the click of a button. The industry continues to grow as other countries, specifically those in Asia and the Middle East, follow this example in an effort to expand their audience reach to the United States and Europe.

The growth of the translation services industry and the role the internet plays in promoting this growth consolidates an upward trend. With the online marketplace getting more diverse, the demand for translation is ever increasing. The scope for the development of the non-English speaking translation market is phenomenal.
The importance of the translation services sector is growing in importance to the extent that what officially existed as an unrecorded industry up until 20 years ago is now a thriving industry with an expected value of $25 billion in the coming years. The importance of man’s need to communicate will always drive the sector upwards.

Spanish translation Differences

Like popular European languages such as Italian and French, Spanish is derived from Latin. However, we must also bear in mind that other languages such as French and Arabic have had a strong influence on the Spanish language. When Spanish explorers "discovered" Latin America, the Spanish language used by the early settlers evolved into a distinctive dialect of Spanish with its own flavour and style. This new dialect of Spanish married the European and South American cultures to become what is generally called South American Spanish. Latin American Spanish is now spoken all over South America in places such as Argentina, Paraguay, Uruguay, Venezuela, Peru, Colombia, Bolivia, Chile and Ecuador with each country again having it's own specific nuances and dialects.

The differences between Latin American Spanish and European Spanish are in many respects similar to the differences between American and English meaning that Latin American Spanish speakers and European Spanish speakers have no difficulties understanding each other. The major differences between the two spoken dialects are as follows:

Spaniards tend to pronounce the z and the c before i or e like the "th" in "thick," while many Latin Americans pronounce it as the s. Also, some South Americans and in Argentina in particular, often pronounce the ll and y like the "s" in "measure." They also tend to drop s sounds, so está sounds like etá. In parts of South America, the j sounds like the "ch" in "loch" while in others it sounds like the English "h." Finally, the l and the r at the end of a word can sometimes sound alike. All of these pronunciation differences coupled with a slower pace and softer tone when speaking Latin American Spanish enable is to tell very easily where someone is from.

When it comes to South American Spanish translation and Spanish translation the differences are again very subtle and a Spaniard will generally have no problems understanding a South American text but there are some differences on grammar and vocabulary making it more logical to employ a native South American Spanish translator to translate texts specific to a particular South American market.
On grammar, two of the major differences that the Spanish translator will take into consideration are the leísmo of Spain and the use of the pronoun vos in some areas instead of tú. Secondly, vosotros is often used as the plural of tú (the singular familiar "you") in Spain, while in Latin American ustedes is used.
Vocabulary is where the major differences lie and can differ vastly even within South America emphasising again the importance of hiring a translator native to a particular locale or market. As they say there is no substitute for local knowledge.

Here are some of the misunderstandings that can arise from not hiring a native speaking translator to a specific market.

A Spanish translator may translate "to step on" as "pisar" while this maybe understood as "to have sex" in Latin American Spanish. A Spanish translator may translate "car" as "coche" while this maybe understood as "baby stroller" in Latin American Spanish. A "lápiz" is a pencil or crayon everywhere, but a "lapicero" is a pencil holder in some areas, a mechanical pencil in others, and a ball-point pen in others. There are also a number of blatant differences, such as a computer being an "ordenador" in Spain but a "computadora" in Latin America. Even within Latin Spanish we have the example where a Chinese restaurant is called a "chifa" in Peru and Chile but this word is very uncommon in other dialects of South American Spanish.

All in all, when sub-contracting your translation services for Latin Spanish do your research and ensure that your translator is not only a native South American Spanish translator but also native to the particular area/locale for which your text is being translated.