Payment in shares of the client Thread poster: Rolf Kern
|
|---|
Rolf Kern 
Switzerland
Local time: 02:28
English to German
+ ...
In memoriam
A translator friend of mine with another language combination has recommended me to one of his direct clients, asking me at the same time, if I would accept shares of the client as remuneration, which I rejected. Did you ever have a similar request?
Thanks
Rolf
| | | | neilmac
Spain
Local time: 02:28
Spanish to English
+ ...
| Pull ther other one | Nov 5, 2011 |
Rolf Kern wrote:
A translator friend of mine with another language combination has recommended me to one of his direct clients, asking me at the same time, if I would accept shares of the client as remuneration, which I rejected. Did you ever have a similar request?
Thanks
Rolf
No, and I would find it highly amusing, having seen the Simpsons episode about the dot.com bubble where the internet company just printed out shares like toilet paper pay Bart and Milhouse. The client is effectively saying "I am in an unstable financial situation, but want you to work for me anyway, even though I can't pay you."
The only clients I will consider working for without cash money in return are pro-bono, such as charities or other deserving causes.
| | | | Gabriel Luis
Spain
Local time: 01:28
Member (2008)
German to Spanish
+ ...
| Working for cash vs. working for added value/better outlooks | Nov 5, 2011 |
"The only clients I will consider working for without cash money in return are pro-bono, such as charities or other deserving causes. [/quote]"
I have never seen this payment practice, nor it seems to me trustworthy.
On the other Hand and, although I agree with the overall orientation of this thread, I would work without DIRECT cash either for pro-bono; for improved professional practices -improving workflows and visibility. Direct cash is, from my personal point of view, not ... See more "The only clients I will consider working for without cash money in return are pro-bono, such as charities or other deserving causes. [/quote]"
I have never seen this payment practice, nor it seems to me trustworthy.
On the other Hand and, although I agree with the overall orientation of this thread, I would work without DIRECT cash either for pro-bono; for improved professional practices -improving workflows and visibility. Direct cash is, from my personal point of view, not the only way to get rewarded for own time and energy.
Salud!
[Edited at 2011-11-05 10:53 GMT] ▲ Collapse
| | | | Samuel Murray
Netherlands
Local time: 02:28
Member (2006)
English to Afrikaans
+ ...
| Payment in kind, payment in royalties, etc | Nov 5, 2011 |
Rolf Kern wrote:
...if I would accept shares of the client as remuneration.
This sounds to me similar to those cases where a self-published book author wants you to translate for royalties instead of money. The royalty thing is usually an unacceptably high risk. Whether to accept shares instead of payment is a difficult question, if you wish to consider it.
I assume payment in shares would be payment in kind, so I'm not sure how one would handle that tax-wise, and whether one would have tax problems if you manage to sell the shares for a profit, and whether you'd qualify for tax benefits if you sell the shares at a loss. For example if the shares are worth EUR 1000 when you declare it, but only EUR 750 when you sell it, would you then still end up paying income tax on the EUR 250 that you lost?
I would personally only consider payment in shares if I have experience in buying and selling shares (or in having a broker do that for me). Even then, I would not consider it unless it is only a partial payment, e.g. 75% in real money + 25% in shares.
As for conflicts of interest, I don't think it is a problem to own shares in a company that you translate for... but perhaps I'm just not thinking about this hard enough.
| | |
|
|
|
But only if it was for Microsoft!
| | | | Thayenga
Germany
Local time: 02:28
Member (2009)
English to German
+ ...
| Cash vs. Shares | Nov 5, 2011 |
Samuel Murray wrote: Rolf Kern wrote:
...if I would accept shares of the client as remuneration. This sounds to me similar to those cases where a self-published book author wants you to translate for royalties instead of money. The royalty thing is usually an unacceptably high risk. Whether to accept shares instead of payment is a difficult question, if you wish to consider it.
Hi Rolf,
I agree with Samual - basically.
The only time I would accept shares from a client is when that client holds a major company or if his name is Donald Trump.
All others are at your own risk, that is,
1. will you get paid?
2. are the shares worth anything?
3. how high are the taxes?
to name a few.
Best.
Thayenga
| | | | | Never say never :-) | Nov 5, 2011 |
I might consider it, under the right circumstances, e.g. a reasonably reputable firm in Western Europe, the market value of the shares being higher than the cash they are replacing, the shares being easy to sell and the income easy to bring into the UK, etc.
But then I used to dabble in the stock market, so I'm not wholly adverse to the idea. It's certainly not everyone's cup of tea.
| | | | | Always say never | Nov 5, 2011 |
A very long time ago I accepted to do software localisation for free in exchange of a share of the income created by localised copies sold. The company I did this for was really confident that they would sell many localised copies, and I was naïve and believed them. I never saw a penny, although I can safely assume that at least several hundreds of copies of each of the software products were sold.
In these situations, it is best to apply the saying that a bird in the hand is worth... See more A very long time ago I accepted to do software localisation for free in exchange of a share of the income created by localised copies sold. The company I did this for was really confident that they would sell many localised copies, and I was naïve and believed them. I never saw a penny, although I can safely assume that at least several hundreds of copies of each of the software products were sold.
In these situations, it is best to apply the saying that a bird in the hand is worth more than a hundred in the sky.
If their shares is all they are able to offer to their suppliers, what success can you expect from them? ▲ Collapse
| | |
|
|
|
| No, not even for Donald Trump | Nov 6, 2011 |
Thayenga wrote:
The only time I would accept shares from a client is when that client holds a major company or if his name is Donald Trump.
As he - or companies that bear his name - have declared bankruptcy four times!
| | | | To report site rules violations or get help, contact a site moderator: You can also contact site staff by submitting a support request » Payment in shares of the client | Wordfast Pro | Translation Memory Software for Any Platform
Exclusive discount for ProZ.com users!
Save over 13% when purchasing Wordfast Pro through ProZ.com. Wordfast is the world's #1 provider of platform-independent Translation Memory software. Consistently ranked the most user-friendly and highest value
Buy now! » |
| | CafeTran Espresso | You've never met a CAT tool this clever!
Translate faster & easier, using a sophisticated CAT tool built by a translator / developer.
Accept jobs from clients who use Trados, MemoQ, Wordfast & major CAT tools.
Download and start using CafeTran Espresso -- for free
Buy now! » |
|
| | | | X Sign in to your ProZ.com account... | | | | | |
Login to reply/comment 
Translation news
