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Poll: If you are not satisfied with your income, it's because of:
Thread poster: ProZ.com Staff
ProZ.com Staff
Local time: 22:39
SITE STAFF
Oct 23, 2008

This forum topic is for the discussion of the poll question "If you are not satisfied with your income, it's because of:".

This poll was originally submitted by Oleg Rudavin

View the poll here

A forum topic will appear each time a new poll is run. For more information, see: http://proz.com/topic/33629


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Cecilia Civetta  Identity Verified
Italy
Local time: 07:39
Member (2003)
Italian to Spanish
+ ...
Satisfied Oct 23, 2008

I'm satisfied with my income, BUT I pay TOO MUCH TAX. Just too much.

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Alice Bootman  Identity Verified
United States
Local time: 00:39
Member (2008)
Spanish to English
+ ...
Not enough work Oct 23, 2008

Since I am still relatively new at this (only been at it for a little over a year professionally), it seems that large international outsourcers are not likely to hire me. So far, almost all of my work comes from local demand. There are many other well-qualified - and not well-qualified at all - translators in town. But unfortunately, price is more important than quality for most clients here. So the cheap, low-quality translators seem to get more of the work. For those clients who do give importance to quality, there are plenty of local choices that are very reliable and much less expensive than using an international outsourcer (like myself). I'm sure that with time I will gain more regular clients and references.

[Edited at 2008-10-23 16:21]


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Jocelyne S  Identity Verified
France
Local time: 07:39
Member
French to English
+ ...
Low rates is a bad excuse! Oct 23, 2008

I'm a bit confused by those who have voted "Low Rates".

If you are unhappy with your income due to your low rates, why don't you, well, raise your rates?!

I'm happy with my income as things currently stand. If I was to become unhappy with my income, I presume that it would be due to a lack of new projects.

Best,
Jocelyne


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neilmac
Spain
Local time: 07:39
Member (2007)
Spanish to English
+ ...
I'm satisfied too. Oct 23, 2008

In Spain, I bill my clients at my basic rates, with 16% IVA/VAT and 15% IRPF on the invoice, which they have to pay. At the end of the year I usually get something back from Hacienda. The only snag is the IVA, which I have to pay every 3 months even though the clients billed for it may not have paid me yet.
I'm more disgruntled about the social security I have to pay as a freelancer, which is a set rate of over 250 € monthly, even in those months where I maybe earn half (or less) of the previous month's takings. I think it should be earnings related, but, alas, the system here is not geared to self-employment and its fluctuating nature...


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lillkakan
Local time: 07:39
English to Swedish
Other Oct 23, 2008

I would like to earn more, but I also acknowledge that the reason for not earning more is my own fault. I'm simply too lazy to be hunting for direct clients or at least agencies offering better rates. So in theory I'd like to earn more, but in practice I have to be satisfied with what I make, since I can't be bothered to do anything about it.

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Oleg Rudavin  Identity Verified
Ukraine
Local time: 08:39
Member (2003)
English to Ukrainian
+ ...
The purpose of the poll Oct 23, 2008

Thanks Jocelyne! That's exactly what I had im mind when submitting a poll a few months ago; precisely, make people compare, judge, think and try to see the real reasons!

J S wrote:
I'm a bit confused by those who have voted "Low Rates".

If you are unhappy with your income due to your low rates, why don't you, well, raise your rates?!


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Parrot  Identity Verified
Spain
Local time: 07:39
Member (2002)
Spanish to English
+ ...
Satisfied Oct 23, 2008

However, it's a profession with very few deductibles. I've got VAT reserves and have projected for social security, but I often wonder whether I'm being stupid by not incorporating. (The added admin work and the expectation regarding expanded services scares me - I'm often overbooked as things are).

There will always be a low-rate segment in any market. I've come to the conclusion that they're like sandpits on a golf course: hard, but not impossible to get out of, and happily far from being the entire golf course. Just don't fall in.


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Dallas Cao
China
Local time: 14:39
English to Chinese
+ ...
raise rates Oct 23, 2008

J S wrote:

I'm a bit confused by those who have voted "Low Rates".

If you are unhappy with your income due to your low rates, why don't you, well, raise your rates?!

I'm happy with my income as things currently stand. If I was to become unhappy with my income, I presume that it would be due to a lack of new projects.

Best,
Jocelyne


If you raise your rates, you lose your clients, and as a consequence you do not have enough work. At least this is what happens in my pair.


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Laura Gentili  Identity Verified
Italy
Local time: 07:39
Partial member (2002)
English to Italian
+ ...
Social Security Oct 23, 2008

neilmac wrote:
I'm more disgruntled about the social security I have to pay as a freelancer, which is a set rate of over 250 € monthly,


I would love to pay a set rate of 250 € monthly. Here in Italy we pay 27.5% of the gross income for social security.

Laura


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Péter Jutai  Identity Verified
Hungary
Local time: 07:39
English to Hungarian
+ ...
60% Oct 23, 2008

I don't know, how much tax has to be paid for the state in other countries, but in Hungary you have to give the 60% of your income to the government (tax and other payments). If you are a contractor, it's 60%, and if you are an employee, 59,5% or so. As we say it in Hungary: they figured it out well...

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Laureana Pavon  Identity Verified
Uruguay
Local time: 03:39
Member (2007)
English to Spanish
+ ...

MODERATOR
Exchange rates Oct 23, 2008

Speaking of South American currencies (not euros, pounds or dollars), exchange rates are a variable that sometimes drives me nuts, as it is impossible to predict how they will behave.

I live in Uruguay, a small country located right next to Argentina, a considerably larger market for translations where I have many customers. The Argentine peso tends to be pretty unpredictable... and sometimes my "real" income (converted to Uruguayan pesos) ends up being lower than I thought it would be, specially in the case of longer projects.

I guess this is just another consequence of the current global financial situation

Cheers!

Laureana


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Miranda Joubioux  Identity Verified
Local time: 07:39
Member (2006)
French to English
+ ...
I live in France - taxes too high Oct 23, 2008

I rest my case!

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Oleg Rudavin  Identity Verified
Ukraine
Local time: 08:39
Member (2003)
English to Ukrainian
+ ...
Losing and gaining Oct 23, 2008

Dallas Cao wrote: If you raise your rates, you lose your clients...
... and gain new ones, who take high rate as an indicator of high quality.

So it works both ways!


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neilmac
Spain
Local time: 07:39
Member (2007)
Spanish to English
+ ...
Daylight robbery Oct 23, 2008

Laura. "I would love to pay a set rate of 250 € monthly. Here in Italy we pay 27.5% of the gross income for social security."

Dear oh dear! That's an absurdly high rate! Where is the incentive to work if a quarter of your gross earnings goes in SS charges?!! I'm afraid won't be moving to Italy soon ... or indeed Hungary!


[Edited at 2008-10-23 16:24]


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