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Poll: Are you planning to raise your rates in 2009?
Thread poster: ProZ.com Staff
ProZ.com Staff
Local time: 11:59
SITE STAFF
Dec 10, 2008

This forum topic is for the discussion of the poll question "Are you planning to raise your rates in 2009?".

This poll was originally submitted by Julianne Rowland

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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Romuald Pawlikowski  Identity Verified
Local time: 20:59
Member (2004)
English to Polish
+ ...
Raising rates in recession time? Dec 10, 2008

Well this is hardly an option...

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Marie-Hélène Hayles  Identity Verified
Local time: 20:59
Italian to English
+ ...
Why not? Dec 10, 2008

Romuald Pawlikowski wrote:

Well this is hardly an option...


I will be! Has your cost of living stopped going up?

I've already announced a rate rise for 2009 to a couple of my more important clients. My only concern is with one of my UK-based clients: with the pound sliding against the euro, I'm becoming more expensive for them even before I raise my rate. Still, I held off a rate increase for them this year for exactly that reason - I can't keep doing it indefinitely, it's not cost effective. It remains to be seen whether they keep sending me work from January on.


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Laureana Pavon  Identity Verified
Uruguay
Local time: 15:59
Member (2007)
English to Spanish
+ ...

MODERATOR
Local vs. international clients Dec 10, 2008

I will adjust (raise) my rates for local end clients, as I do every year.

As to my international clients, I still haven't decided. as I'm trying to figure out this whole "credit crunch" situation and how it will affect my work flow.

It will be interesting to see what others will be doing around the world.

Regards from Uruguay!


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Venkatesh Sundaram  Identity Verified
India
Local time: 00:29
Member
German to English
On a case to case basis Dec 10, 2008

Marie-Hélène Hayles wrote:

Romuald Pawlikowski wrote:

Well this is hardly an option...


I will be! Has your cost of living stopped going up?

I've already announced a rate rise for 2009 to a couple of my more important clients. My only concern is with one of my UK-based clients: with the pound sliding against the euro, I'm becoming more expensive for them even before I raise my rate. Still, I held off a rate increase for them this year for exactly that reason - I can't keep doing it indefinitely, it's not cost effective. It remains to be seen whether they keep sending me work from January on.


I can fully appreciate what Romuald has in mind - that one can't afford to turn business away by hiking one's rates!

I agree our costs have not started coming down - unless one is going to buy a car in India where the auto manufacturers have just announced price cuts of about 5 percent. But on the other hand, the inflation for food and other items hover around 11%!!
The objective of the rate increases if any should be that ones standard of living can be maintained if not improved.
So for local clients I definitley plan to increase by about 8 %
Since the Indian Rupee is weakening somewhat against the US dollar and Euro, I may not need to increase my rates for overseas clients to the same extent.

However at the moment these are just plans - one cannot say what one will be compelled to do a few months' hence!
Regards,
Venkatesh


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xxxSaifa
Local time: 20:59
German to French
+ ...
Yes - inflation obliges me to do so Dec 10, 2008

I have already annonced higher rates from January 2009 for the clients for whom I have not raised my rates last year or the year before.

Reason: inflation makes the cost of living going up constantly, so that you cannot keeping working for the same rates as for ex. 5 years ago.
What would be the sense of working if you are not able to pay your bills any longer? (I suppose that many of my clients will rise the price of their rates / products too...)

[Edited at 2008-12-10 14:52 GMT]


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Kathryn Litherland  Identity Verified
United States
Local time: 14:59
Member (2007)
Spanish to English
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for lower paying clients Dec 10, 2008

Since I'm still relatively new to this freelance game, I've got some clients from when I first started out in late 2007 that I'm getting fairly to slightly lower rates from, and more recent clients that I've acquired at rates that are comfortable to me. For clients who I've been working with for a while now and whose rates are lower than average, I'm going to let them know that I'm getting more work than I can handle at X rate, and that unfortunately if they're not able/willing to match that rate they will be "lower on the totem pole" when my time is scarce.

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Penelope Ausejo  Identity Verified
Spain
Local time: 20:59
English to Spanish
+ ...
Same here Dec 10, 2008

I am raising my rates to most of my clients. Everything is going up for me and my rates will reflect that. Otherwise, I would have to changes jobs and... I really love this job

Saifa wrote:

Reason: inflation makes the cost of living going up constantly, so that you cannot keeping working for the same rates as for ex. 5 years ago.
What would be the sense of working if you are not able to pay your bills any longer? (I suppose that many of my clients will rise the price of their rates / products too...)


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Lawyer-Linguist  Identity Verified
Portugal
Local time: 19:59
Dutch to English
+ ...
Yes Dec 10, 2008

Within reason, not all at once and not across the board - I'll be dealing with each one on a case-by-case basis, as I always have, taking all things into consideration.

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Michaël Temmerman  Identity Verified
Costa Rica
Local time: 12:59
English to Dutch
+ ...
of course Dec 10, 2008

Romuald Pawlikowski wrote:

Well this is hardly an option...


Why wouldn't you at least compensate inflation?
Many agencies have foreseen this in their long term contracts with clients as well. Of course they will try to talk you out of it, they always try to get "your best rate". But who cares; my best rate is my present rate plus the 2008 inflation rate.

When the production cost of a company goes up dramatically and it can't increase its prices charged to the end customer, it gets into trouble. It's the same for translators. Our cost of living is going up fast, so we have to compense with higher rates. By not increasing your rates, you'll only help others make more profit at your expense.


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andres-larsen
Venezuela
Local time: 14:59
Spanish to English
+ ...
I recently lowered them Dec 10, 2008

As a matter of fact, I recently lowered my rates and intend to keep them at that level as I do not foresee the global recession disappearing any time soon during 2009

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Laureana Pavon  Identity Verified
Uruguay
Local time: 15:59
Member (2007)
English to Spanish
+ ...

MODERATOR
You certainly have! Dec 10, 2008

andres-larsen wrote:
As a matter of fact, I recently lowered my rates and intend to keep them at that level as I do not foresee the global recession disappearing any time soon during 2009


Well, Andres, from what I see on your profile your rates are very low!!

Perhaps everything is extremely cheap in Venezuela, but I could NEVER pay my bills if I charged your rates, and I live in South America!

Let me say that I'm quite shocked.


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Romuald Pawlikowski  Identity Verified
Local time: 20:59
Member (2004)
English to Polish
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Recession time - elaborating Dec 10, 2008

Romuald Pawlikowski wrote:

Well this is hardly an option...


The way I see it is: inflation will ease in the next months and we may see deflation rather. The companies will cut costs and translation volume will go down. As the volume offered by the clients will dry up, they will be in a good position to force lower fees or at least defer any raises. This will happen to hundreds of translators and the rates will have to give in.

Highly specialized translators who are ultimate experts in very narrow fields won't need to worry, but generalists and technical translators may observe significant slow down.

I hope that this is just pessimism.

With regards,

Romuald


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John Fossey  Identity Verified
Canada
Local time: 14:59
Member (2008)
French to English
Marketing! Dec 10, 2008

What's needed in a recession is increased marketing, not lowering rates... I plan to raise both marketing and rates...

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Penelope Ausejo  Identity Verified
Spain
Local time: 20:59
English to Spanish
+ ...
Ole! That's the spirit! Dec 10, 2008

John Fossey wrote:

What's needed in a recession is increased marketing, not lowering rates... I plan to raise both marketing and rates...


Yes, that is the spirit! I work on my marketing on a "daily" basis, i.e. whenever I have the opportunity or when I have the time... whichever comes first.


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