| Pages in topic: [1 2] > | Poll: Have you felt the need to lower your rates in response to the economic crisis? Thread poster: ProZ.com Staff
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I’ve been noticing a big reduction on work for the last month but I’m not particularly worried as this is not the first crisis I have to go through (the last one not long ago in 2008-2009). I haven’t touched my rates for a while (at least since I moved from Belgium to Portugal in 2016). Most of my new clients when they come to me seem to have done their homework and they already have a rough idea of my rates. If a previously good client is going through a rough patch, I may suggest extendi... See more I’ve been noticing a big reduction on work for the last month but I’m not particularly worried as this is not the first crisis I have to go through (the last one not long ago in 2008-2009). I haven’t touched my rates for a while (at least since I moved from Belgium to Portugal in 2016). Most of my new clients when they come to me seem to have done their homework and they already have a rough idea of my rates. If a previously good client is going through a rough patch, I may suggest extending the payment terms or even payment by installments. A client that cannot pay will not be able to pay whatever the rate. I’ve occasionally offered my services for free to help people in need…
P.S. If you lower your rates what will happen when you decide to raise your rates back up when the economic downturn has passed? ▲ Collapse
| | | | Marjolein Snippe 
Netherlands
Local time: 20:23
Member (2012)
English to Dutch
+ ...
I have not lowered my rates.
There are a couple of clients who are paying lower rates than my other clients. I had been planning to adjust this (by raising my rates for these clients, obviously - not by bringing my rates for the others down!) but I have decided to postpone this as I think times are pretty rough for these clients (small agencies) as well.
| | | | DZiW (X)
Ukraine
English to Russian
+ ...
| Whether the weather is fine... | Jun 1, 2020 |
No, why should I even think about it? Whatever the weather, the life is going and goes on.
However, I occasionally did help with some tiny projects pro bono, whereas my direct clients paid me more on purpose "to keep the interest', so it's still win-win.
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Tom in London
United Kingdom
Local time: 19:23
Member (2008)
Italian to English
Q "Have you felt the need to lower your rates in response to the economic crisis?".
A. No, not for that reason nor for any other. On the other hand I have occasionally increased them (though not recently)
| | | | Nikolay Novitskiy
Russian Federation
Local time: 00:23
Member (2018)
English to Russian
I was never asked to lower my rates since the beginning of COVID outbreak.
| | | | Ventnai
Spain
Local time: 20:23
German to English
+ ...
| Forced to accept a lower rate | Jun 1, 2020 |
One agency I work with has imposed a reduction in rates until September. Obviously, I can choose not to work for them but as my usual workload has decreased by 60% (due to the Coronavirus, I suspect), I sometimes have no option.
| | | | Paulinho Fonseca
Brazil
Local time: 16:23
Member (2011)
English to Portuguese
+ ...
The issue with lower rates is a real thing. I just do not depreciate them in order to get more jobs, but keep what I believe is fair play for both sides. My regular workload reduced a bit, but surprisingly I got two new clients. It's just another challenge.
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| No, but I have given extended credit | Jun 1, 2020 |
One client asked for a temporary reduction in rates, but as I only had a very small amount due anyway, I said it would make more sense simply to put off invoicing them for a month or two.
They accepted that, and then went very quiet for a month. They have since sent me two medium-large jobs, offering to pay the usual rate, but 60 days from the invoice date instead of 30.
Work has been quiet altogether, but I have had several texts about new products and coming back fro... See more One client asked for a temporary reduction in rates, but as I only had a very small amount due anyway, I said it would make more sense simply to put off invoicing them for a month or two.
They accepted that, and then went very quiet for a month. They have since sent me two medium-large jobs, offering to pay the usual rate, but 60 days from the invoice date instead of 30.
Work has been quiet altogether, but I have had several texts about new products and coming back from the crisis more green than before.
It is not over, but trying to be optimistic is often a good tactic, if you have anything to back it up with! ▲ Collapse
| | | | Thayenga
Germany
Local time: 20:23
Member (2009)
English to German
+ ...
There is no need to, especially when taking into consideration that the food prices have gone up quite a bit, allegedly due to Corona.
| | | | DZiW (X)
Ukraine
English to Russian
+ ...
| The Silence of the Lambs | Jun 1, 2020 |
Ian, do you happen to know why experienced hunters and dog trainers prefer cubs fighting (back) for their food and against aggression? Right you are—such owners just select most viable species. The same goes about any living beings. In fact, that's why one who cannot defend his/her/its/their dignity, interests and people will never be a decent businessperson.
Shortly, if you have a contract and signed no addendum/amendments, you can still legally charge your agreed rates—... See more Ian, do you happen to know why experienced hunters and dog trainers prefer cubs fighting (back) for their food and against aggression? Right you are—such owners just select most viable species. The same goes about any living beings. In fact, that's why one who cannot defend his/her/its/their dignity, interests and people will never be a decent businessperson.
Shortly, if you have a contract and signed no addendum/amendments, you can still legally charge your agreed rates—or sue for any damages and breaches.
1) How come that intermediary was affected more badly than you and others?
2) Why ‘till September’, not March or December? Including? What year?
3) To have more options and diversify the incomes, one should care about both clients and activities diversification. Do you?
Neither sheepish obedience nor self-justification with pretexts helps against spongers and parasites: you either agree, or not. ▲ Collapse
| | | | Edward Potter
Spain
Local time: 20:23
Member (2003)
Spanish to English
+ ...
The situation is unique. Hopefully this SNAFU will be over soon with little damage.
There are probably plenty of people out there who are suffering and will take lower rates. But those people are not in my market.
Being well-established and on the higher end of the scale, my rates wouldn't get affected much for now. If this virus thing goes on for a much longer time, I would re-evaluate and adapt.
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Mario Freitas
Brazil
Local time: 16:23
Member (2014)
English to Portuguese
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| Other (No, but...) | Jun 1, 2020 |
No, I haven't, but some clients are forcing the rates down by all kinds of tricks. It's pretty hard to get around them all the time. I'm trying hard not to provide services for these clients anymore, but I know it will take some time to replace them by others who respect out work.
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Work has been quieter than normal - I did almost nothing in April and about 2/3 of my normal amount in May. I haven't been tempted to reduce my rates because I have savings to get me through periods like this and I have been focussing on CPD and just having a bit of a break.
Not everyone is in my fortunate situation though so other translators will make different choices and I'm not judging that.
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I have decided to be more flexible. If asked by the client, I give them my full rate. If the client comes with a fixed (lower) budget for a project, I might be inclined to accept, depends on his final rate. In short, I am less rigorous, but don't want to be abused (and I don't like peanuts anyway).
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