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Poll: Have you lowered your rates due to the global financial crisis?
Thread poster: ProZ.com Staff
ProZ.com Staff
Local time: 05:54
SITE STAFF
Oct 14, 2008

This forum topic is for the discussion of the poll question "Have you lowered your rates due to the global financial crisis?".

This poll was originally submitted by irene varela

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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John Cutler  Identity Verified
Spain
Local time: 14:54
Spanish to English
+ ...
Why should I? Oct 14, 2008

I'm glad to see that at least at this point I'm in the majority (89% NO). I charge what I consider reasonable rates, so I don't see any need to lower them.

I don't see the price of my mortgage or gas or light bills going down, so why should I charge less?


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jccantrell  Identity Verified
United States
Local time: 05:54
Member (2005)
German to English
+ ...
Not just NO, but Oct 14, 2008

Hell NO!

I have seen no slack in demand and will not even consider lowering rates until I do.

Of course, by that time, I might be retired


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Venkatesh Sundaram  Identity Verified
India
Local time: 19:24
German to English
Lowering rates may not help Oct 14, 2008

John Cutler wrote:

I'm glad to see that at least at this point I'm in the majority (89% NO). I charge what I consider reasonable rates, so I don't see any need to lower them.

I don't see the price of my mortgage or gas or light bills going down, so why should I charge less?


I agree. Those who need our services would probably be in a position to pay for them. Those companies which are badly hit by the ongoing crisis would probably put off their translation needs / plans for a 'better' time anyway. Not to mention inflation - in India the official rate is around 12% p.a. at this time! So even just to maintain the same standard of living as last year, we ought to be charging more, not less (if we can!)


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Elías Sauza  Identity Verified
Mexico
Local time: 07:54
Member (2002)
English to Spanish
+ ...
No Oct 14, 2008

I cannot think of any reason to lower my rates. I don't believe that would help in solving the global financial crisis. My and my familys doctor's bills, dentist's bills, phone bills, medical insurance bills, school bills, etc. etc. are still the same and even a little higher due to the inflation rate in my country. Namely, the inflation by itself lowers my rates a little bit every month. That is enough. I'd like to know someone's reasons to lower them.

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Elin Davies  Identity Verified
United Kingdom
Member (2008)
English to Welsh
+ ...
No Oct 14, 2008

Due to inflation in just about every country in the world things are getting more expensive for us all, so we're being generous enough by keeping our rates as they are, why on earth should we reduce them?

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Kathi Stock  Identity Verified
United States
Local time: 07:54
Member (2002)
English to German
+ ...
Absolutely NO Oct 14, 2008

I was suprised how quickly some of the large and well-known translation agencies jumped on the bandwaggon of the financial crisis and asked me to reduce my rates by up to 50%! It was funny to see how some projects, which were initially offered with a very low rate kept re-surfacing because apparently the agency couldn't find anyone who would work for dumping prices. My bills don't get paid when I work for dumping prices - simple as that. In times like these, it proves to be critical to have a wide spread portfolio of clients/agencies to work for.

Kathi


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Alexandra Speirs  Identity Verified
Local time: 14:54
Italian to English
+ ...
CERTAINLY NOT Oct 14, 2008

Everything is going up in price, I am not a charitable institution and see no reason why I should charge any less.
Indeed, I'm surprised that some people have answered yes to this poll, I wish they'd come here and explain why... and if it's bringing them in any more work...
I have far too much work at the moment, so the crisis is not affecting my customers' needs for translations.


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Yaotl Altan  Identity Verified
Mexico
Local time: 07:54
Member (2006)
English to Spanish
+ ...
No Oct 14, 2008

I didn't profit with mortgages. I'm not responsible for Wall Street greed. So, NO.

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Andrea Riffo  Identity Verified
Chile
Local time: 10:54
English to Spanish
If anything, I've raised them Oct 14, 2008

1) Inflation is through the roof

2) In Chile (I don't know if the same happens in other countries) we have an inflation-linked "currency" called UF, in which health plans and mortgages are denominated. This is in addition to the usual legal annual raise.

Therefore,absolutely everything has become increasingly more expensive... and I should lower my rates???

No effin' way!


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Christine Andersen  Identity Verified
Denmark
Local time: 14:54
Member (2003)
Danish to English
+ ...
Would you ask your dentist to put his price down? Oct 14, 2008

Would you ask your dentist to put his price down?
Has anyone asked the doctors to cut their fees?
Lawyers?
Teachers?
...
Whoever puts their prices down because of a crisis? I don't!

I do occasionally work for free for non-profit organisations when I know the 'client' needs a translation but has no money, or the people they work for have no money.
It's like that or business as usual here!

On the contrary, I have been putting my rates up recently - in line with the fact that I have more experience and better qualifications than when I started freelancing. I am not planning to change that either!

Happy translating and may the crisis blow over before it does too much harm...


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Sabine Winter  Identity Verified
United States
Local time: 07:54
Member (2007)
English to German
+ ...
No Oct 14, 2008

For all the reasons already mentioned above. And I would really be curious to hear from the ones that have lowered rates and why???

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SusieZ
United States
Local time: 08:54
German to English
Exchange rate Oct 14, 2008

Hi,

I had one client request I reconsider switching from US $ to British Pounds because the exchange rate was slipping. I upped the price we had originally agreed to in Pounds several months ago and offered they pay that rate in Pounds for a while, making sure, though, that we remain flexible in the months to come. They are paying slightly more than they are used to and my US $ rate is slightly decreased. This is why I answered yes - a slight change, but only for one client that I have a good working relationship with.


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Catherine Shepherd  Identity Verified
United Kingdom
Local time: 13:54
Spanish to English
+ ...
Ermm... Oct 14, 2008

...you must be joking, right???

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Noni Gilbert
Spain
Local time: 14:54
Spanish to English
+ ...
Please share... Oct 14, 2008

If my costs were for some reason going down, there might be an argument for sharing this situation, but in fact since the reverse is true, then the only thing I would consider sharing is the cost of living, and would therefore have to put my prices up!

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