Rates Too Low? Any tools to find out?
Thread poster: Movingpix
Movingpix  Identity Verified
Local time: 03:15
Japanese to English
+ ...
Apr 7, 2009

Hello,
Is there any ProZ tool to find the prevailing rate currently?
I know it's case by case and economy is bad.

$0.04 per Japanese character (probably excluding spaces) for Japanese->English
translation, not sure how that is compared to average rate.

thank you very much,


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Andreas Nieckele  Identity Verified
Brazil
Local time: 08:15
English to Portuguese
Yes Apr 7, 2009

http://www.proz.com/?sp=rates_view

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Edward Vreeburg  Identity Verified
Netherlands
Local time: 12:15
Member (2008)
English to Dutch
+ ...
The tool is only a global indication Apr 8, 2009

It does seem on the low side, if you compare the average rate to the "supposedly accepted rates" in the country (in my case the Netherlands)... So I suspect low-rate countries are seriously affectting the averages here.
The question remains: can they (always) deliver (good quality) at these prices?


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Ralf Lemster  Identity Verified
Germany
Local time: 12:15
English to German
+ ...
Not even that Apr 8, 2009

As far as I can tell, the pricing statistics based on rates entered in ProZ.com user profiles are outdated and overly simplistic. Moreover, they are based on grossly outdated exchange rates (EUR/USD 1.5200...), distorting the picture even further.

Numerous proposals were put forward over recent years on how to improve the pricing statistics; some improvements were made from a technical perspective, but what is needed is a major campaign designed to complete and update the information.

Best regards,
Ralf


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Susan Welsh  Identity Verified
United States
Local time: 06:15
Member (2008)
Russian to English
+ ...
What are ProZ rate tools based on? Apr 8, 2009

I wonder whether the data are drawn from what people SAY their rates are on their profiles, or what they end up actually charging. The two are not necessarily the same, and I don't see how anyone would know what a translator ultimately charges a given customer.

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José Henrique Lamensdorf  Identity Verified
Brazil
Local time: 09:15
English to Portuguese
+ ...
Good idea! Apr 8, 2009

Ralf Lemster wrote:

As far as I can tell, the pricing statistics based on rates entered in ProZ.com user profiles are outdated and overly simplistic. Moreover, they are based on grossly outdated exchange rates (EUR/USD 1.5200...), distorting the picture even further.

Numerous proposals were put forward over recent years on how to improve the pricing statistics; some improvements were made from a technical perspective, but what is needed is a major campaign designed to complete and update the information.

Best regards,
Ralf


Being a self-appointed non-expert in international finance, I wouldn't spearhead a support ticket suggesting this. At best I can offer a few ideas:

1. Let each Prozian specify their rates in their local currency, and process them through e.g. http://www.x-rates.com/ to convert the compiled data into any currency the visitor wants to see.

2. Instead of targeted/minimum, let Prozians input the "OTC" flat rate for translation they expect to receive, after any deductions that may occur on the way (e.g. transfer fees), but before any deductions the translator may have to pay (e.g. local tax). This should adjust domestic and foreign clients together.

3. As there seems to be a war for Kudoz/Browniz, give something in such "currency" to each Prozian periodically updating their figures, say, every 1, 2, or 3 months (a preset period), even if it is to confirm that they are still using their previuos prices.

4. Taking the chance, include information on accepted payment terms by the translator in days. Of course, nobody refuses COD, so the minimum is obvious. So, that's will be the limit of time the translator accepts payment. Make it clear (both to translators and outsourcers) that a translator that only accepts payment within, say, 30 days from delivery will not be advised on jobs that offer payment beyond that, though they won't be prevented from submitting bids.

5. Include a button on the job posting screen allowing outsourcers to see this compiled information before setting the job-specific figures, if any.

I hope that some more finance-minded colleague might assemble a workable proposal including these points, and several others, of course.


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