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Rate increases for New Year
Thread poster: Maria Riegger
Maria Riegger  Identity Verified
Local time: 09:09
Spanish to English
+ ...
Dec 14, 2002

Hi to everyone,



As the New Year is practically upon us, and with that brings general price increases in consumer goods, services, etc. I am planning to raise my freelance translation rates. What I\'d like to know is, how many of you raise your rates on a yearly basis, do you raise them at the beginning of a new year, after the summer (as is common with some services here in Spain) or just when you \"feel\" it\'s a good time and the market is going strong?



I\'d like to get your feedback on this. Thanks in advance and have a great weekend )



Maria


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swisstell
Italy
Local time: 15:09
German to English
+ ...
what's so magic about First of the Year? Dec 15, 2002

I am adamantly opposed to any increases from anywhere and anybody just because it happens to be a new year. One ought to increase (or decrease) prices and rates if and when required, and this could be any time during the year. This habit of a price jump for the next year at an \"obvious\" date such as Jan. 1st (when company results usually are hardly known and certainly not properly analyzed) is a deplorable practice - and leads to inflation which often is not justified. (I am obviously talking here generally, not translation affairs in particular).

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Aliseo Japan  Identity Verified
Japan
Local time: 22:09
Member
Italian to Japanese
+ ...
No to automatic incrases. Dec 15, 2002

I share the view that automatic increases should be avoided everywhere it is possible. Of course one is free to do what he likes; however, in my view translators (but not only translators) should raise (or lower) their rates only when they are absolutely certain to deserve (not to deserve) a higher rate irrespective of a particular timing during the year.



Mario Cerutti


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Gillian Searl  Identity Verified
United Kingdom
Local time: 14:09
Member (2004)
German to English
Not automatic but ... Dec 15, 2002

... it\'s as good a time as any other to review your prices and make adjustments as you see fit. I have analysed my clients/agencies that I worked for in 2002 and will be making some changes. I\'ve decided not to work for some again - the ones that take 3 months or more to pay. I will increase my rates for some and offer them a discount for payment within 30 days - these are the ones that usually take up to 60 days to pay. It might just encourage them to pay quicker! And the good payers will have the same rates as before. Interestingly it is the good payers that often pay the better rates anyway! I have another year\'s experience and so I\'m following a policy of generally increasing my rates from a low base rate when I started a couple of year\'s ago.

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Maria Riegger  Identity Verified
Local time: 09:09
Spanish to English
+ ...
TOPIC STARTER
Interesting... Dec 15, 2002

Thanks to all, very interesting outlooks. Gillian, my case is the same as yours, my clients that pay on time and relatively quickly (within 30 days), are the ones that pay the highest rates. Goes to show that they must be the ones who really value translation work.



Maria


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Maria Riegger  Identity Verified
Local time: 09:09
Spanish to English
+ ...
TOPIC STARTER
General price increase after new year Dec 15, 2002

E-rich, I don\'t like the idea of raising rates automatically either, you are right on. However, if general prices increase (metro, transportation, food, rent, etc.) after the new year, after the summer or at any certain time, that means that your cost of living goes up as well, and to any freelancer that has to be taken into consideration. Of course, this can be dealt with not by raising rates across the board, but by working only with higher-paying clients, being more selective, giving less discounts, etc. like you mentioned.



All in all, there are several possibilities.



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Atenea Acevedo  Identity Verified
Local time: 08:09
English to Spanish
+ ...
Consider your own costs Dec 15, 2002

Hi, everyone!



In my country general services increase yearly (electricity, for one thing, plus phone, rent, etc.) according to the inflation rate. I usually increase my rates accordingly in January, but definitely don\'t treat all my clients the same way. Big companies, big government and international organizations are one thing, and NGOs and private clients are a different thing. So I guess it has a lot to do with the economy of the place where you live.


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Catherine Bolton  Identity Verified
Local time: 15:09
Member (2002)
Italian to English
+ ...
Italian agency rates Dec 16, 2002

Several agencies here in Italy send you a form in about October/November to confirm your rates for the following year. In this case, January 1st is the ONLY time to change your rates, if that\'s what you\'re planning to do. Otherwise, once you send back the form for their files, you\'re locked into a price for the entire year. The only way to get out of it is to keep turning the work down.

Just my slant on it from Italy.


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OlafK
United Kingdom
Local time: 14:09
English to German
+ ...
Doesn't it all depend on your workflow? Dec 21, 2002

When I am very busy I raise my rates for new clients (I rarely raise rates for existing clients). But when business is slow I offer slightly lower rates to new clients.



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