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Translation - art & business » Money matters »
Impact of dollar collapse on translation market
Thread poster: Clive Wilshin
Clive Wilshin
Clive Wilshin  Identity Verified
Local time: 11:59
Russian to English
+ ...
May 24, 2005

I need to research this topic as part of the business plan I am writing before restarting my translation business.

I am interested in hearing from translators based in Europe on the impact that the dollar's decline has had on their business, if any.

Thanks for your responses in advance.
 
Charlotte Blank
Charlotte Blank  Identity Verified
Germany
Local time: 12:59
Czech to German
+ ...
One third less... May 24, 2005

Hi Clive,

my first translation job here in the Czech Republic was based on dollars (it was an American company), meaning that I knew how much it was in dollars but was payed in Czech crowns - never knowing before how much it would be exactly. This is a few years ago and meanwhile the dollar has gone down quite a lot so I was very lucky to have gotten rid of that job. If I were payed the same dollar-amount in crowns now it would be about one third less... See more
Hi Clive,

my first translation job here in the Czech Republic was based on dollars (it was an American company), meaning that I knew how much it was in dollars but was payed in Czech crowns - never knowing before how much it would be exactly. This is a few years ago and meanwhile the dollar has gone down quite a lot so I was very lucky to have gotten rid of that job. If I were payed the same dollar-amount in crowns now it would be about one third less

Charlotte ▲ Collapse
 
Jørgen Madsen
Jørgen Madsen  Identity Verified
Local time: 12:59
English to Danish
+ ...
No jobs from US clients May 24, 2005

I chose to raise my rates as the dollar fell, but that means that I am getting virtually no jobs from my American or Canadian clients at the moment. US based translators needn't lower their rates, so I can't compete with them on price.

Jørgen
 
Gillian Searl
Gillian Searl  Identity Verified
United Kingdom
Local time: 11:59
German to English
I never did much work from the US anyway May 24, 2005

but I am sure that the dollar exchange rate is the reason why I haven't done any work at all for US companies in months.

On the other hand if I need to outsource some then I try to send it to the states because it's cheaper for me and I can change it back to British if I need to.

Has it reduced my workload because European-based people are sending work to the states instead of giving it to me? I don't think so but it's hard to tell.

Overall, I guess you hav... See more
but I am sure that the dollar exchange rate is the reason why I haven't done any work at all for US companies in months.

On the other hand if I need to outsource some then I try to send it to the states because it's cheaper for me and I can change it back to British if I need to.

Has it reduced my workload because European-based people are sending work to the states instead of giving it to me? I don't think so but it's hard to tell.

Overall, I guess you have to go with the flow - one day the situation will reverse again ...

Gillian ▲ Collapse
 
Clive Wilshin
Clive Wilshin  Identity Verified
Local time: 11:59
Russian to English
+ ...
TOPIC STARTER
Thanks May 24, 2005

Thank you for these responses. One thing that I notice right away is that it is impossible to make a competitive bid for any of the jobs posted on proz.com now.

When I worked for the U.S. government in the 90s, the dollar exchange rate was always around 1:0.67 with little fluctuation. Today it is 1: 0.547. It would cost my old employer a lot more to employ me today.
 


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Impact of dollar collapse on translation market


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