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Poll: How are you surviving the current financial crisis?
Thread poster: ProZ.com Staff
ProZ.com Staff
Local time: 00:24
SITE STAFF
Jul 13, 2009

This forum topic is for the discussion of the poll question "How are you surviving the current financial crisis?".

This poll was originally submitted by Shayney

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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Kai Döring  Identity Verified
Philippines
Local time: 15:24
Member (2007)
English to German
+ ...
Others Jul 13, 2009

It seems the crisis somehow affected also our kind of business.

I stated others since "working harder" would mean there is still much work. I take the time to update profiles and CVs.

The crisis will be over soon. Lowering the prices is the last I would do since we will have a hard time of bringing them up again. Right? Very often agencies remember us if it comes to cost cutting but not when it comes to bonuses. However, I have to pleasure to work with one agency that values its translators and pays bonuses for large translations.


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Maria Drangel  Identity Verified
Sweden
Local time: 09:24
Member (2007)
English to Swedish
+ ...
Work less Jul 13, 2009

I do not lower my rates, I rather use the spare time to either work with administration such as finding more cost efficient solutions for my company/marketing or simply use the extra time to rest, get more fit, travel and read. I am sure there will be a time when I will be glad to have charged my batteries and since I worked in a more lucerative field prior to taking up translations I have some money put aside for times like these.

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Tomás Cano Binder, BA, CT  Identity Verified
Spain
Local time: 09:24
Member (2005)
English to Spanish
+ ...
Can you explain the poll? Jul 13, 2009

Would the poller please explain "Work harder" means here? Does it mean that you have more work than before or that you have to work harder to make the same money?

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Nadia Zamboni  Identity Verified
Spain
Local time: 09:24
Spanish to Italian
+ ...
no other cathegory is lowering rates/prices Jul 13, 2009

I agree with Kai Döring.
I'd be unfair to lower our prices since no one else is! Why should our work lower its value? About the other point, the amount of work, I also noticed that there are less jobs and I also noticed that customers' request are 'stranger', i.e. they ask you to translate only a part of a text and later they think they can fit them in the global text themselves.
I've never been asked for that before, it's clear they try to save. I think this can have a serious consequence on quality but we, as providers, won't be able to change that until the general situation will be ok again (let's hope!)

text quoted:
It seems the crisis somehow affected also our kind of business.

I stated others since "working harder" would mean there is still much work. I take the time to update profiles and CVs.

The crisis will be over soon. Lowering the prices is the last I would do since we will have a hard time of bringing them up again. Right? Very often agencies remember us if it comes to cost cutting but not when it comes to bonuses. However, I have to pleasure to work with one agency that values its translators and pays bonuses for large translations. [/quote]


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Oleksandr Kupriyanchuk  Identity Verified
Ukraine
Local time: 10:24
Russian to English
+ ...
Is there any crisis (for us)? Jul 13, 2009

The effects on me:

1. Some 95 % of orders comes from abroad - that's instead of 68 % in 2008.

2. Higher rates, earnings, new clients and

3. More staffs and partners: expanded in-house team+those working remotely.


It's been a very dramatic change indeed

"Long live crisis" is a bad thing to say, however. ALL of us would have done and gained MUCH MORE W I T H O U T THE CRISIS...



[Edited at 2009-07-13 12:52 GMT]


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Reed James
Chile
Local time: 04:24
Member (2005)
Spanish to English
Define crisis Jul 13, 2009

I think of a true crisis as not working for weeks on end, having to pawn or sell belongings, standing in long lines for government aid. None of these things have happened to me. I have not even tightened my belt, not even stopped eating out. My worst month was January, and that was partly because I went on vacation for a week.

Could the crisis be an exaggeration by the media, at least in part?


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Joan Berglund  Identity Verified
United States
Local time: 03:24
French to English
working less Jul 13, 2009

Which is not the worst thing, since I was working far too much last year and approaching burnout. I was saving for a house downpayment with the plan of buying near the bottom of the market, which I hope I managed to do. So a little less work isn't the worst thing for me right now, especially since it has finally stopped raining so I can go to the beach near my new house for which I worked so hard. But hopefully things will pick up by winter so I can work too hard again and make some money for a bathroom redo.

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Laureana Pavon  Identity Verified
Uruguay
Local time: 04:24
Member (2007)
English to Spanish
+ ...

MODERATOR
July/August Jul 13, 2009

July and August are usually the slowest months of the year in terms of assignments from my customers in the Northern hemisphere, not so for my local customers. That's why during (my) winter months I try to focus my marketing efforts on local businesses.
This strategy has worked fine for me for many years, and hopefully this year won't be an exception.


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Cecilia Civetta  Identity Verified
Italy
Local time: 09:24
Member (2003)
Italian to Spanish
+ ...
Fine, thanks Jul 13, 2009

My workload has decreased about 40% compared to 2008. Same rates. I have some free time now. I spend about 2 hours at the gym and the swimming pool everyday. I'm in a better mood and more relaxed. I'm happy.

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Joan Berglund  Identity Verified
United States
Local time: 03:24
French to English
problem with lowering rates Jul 13, 2009

One problem with lowering rates I haven't seen comments on is exactly who would we lower rates for? Faithful clientele who have not asked for discounts and are still sending plenty of work? It would be nice of us, but who can afford to give away money without even being asked? Or for new clients, or fair weather clients who have switched to cheaper translators? Why should untried or unfaithful clients get better rates? I mean, I am not the cable company:)

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Parrot  Identity Verified
Spain
Local time: 09:24
Member (2002)
Spanish to English
+ ...
It would seem Jul 13, 2009

Tomás Cano Binder, CT wrote:

Would the poller please explain "Work harder" means here?


... more sensible to take it easy while you can.


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Alejandra Garza
Mexico
Local time: 02:24
English to Spanish
+ ...
Crisis? Jul 13, 2009

In my case I've more work than ever, it's actually getting ridiculous, I haven't had a day off in 4 weeks and I desperately need one, which I'm taking pretty soon. To me, there has not been crisis, au contraire, I have lots and lots of work. Seems that crisis or no crisis people still need to communicate and that's why we are here!

I agree with working harder but not lowering rates, my mortgage is not lowering anything so I will definitely not lower my rates.

Have a good one everyone!

Ali


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Marlene Blanshay  Identity Verified
Canada
Local time: 03:24
Member (2009)
French to English
+ ...
not that much difference Jul 14, 2009

there have been more quiet periods and some of my clients have slowed down, including one who was contacting me almost daily- until about the end of april. OF course, it may just be my language pair. One of my other main clients is on mat leave and others are now on vacation for most of july.
I have not lowered my rates, however. I have been looking for new clients but don't we all.
Last summer i was VERY busy editing and translating a magazine but that was an exception. I'm uising the spare time for learning new skills, getting exercise, and getting my new laptop set up!

It has been a bit slower but not to the point that I'm worried. Things are still going very well and i'm satisfied.


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I'm doin fine Jul 14, 2009

Increasing job inquiries from previously never dealt with potential clients all over the world, while I've never lost existing clients.

Question --- What this means in terms of "current financial crisis"?
Answer --- None. Not I know of.

Indeed financial crisis is out there.
But isn't that for our advantage, since many industries have to localize more to reach overseas markets?

It appears to be the case for me.:)


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