The beginning of a new year is when many freelancers raise their rates. I’m interested to know how often this happens (every year, every few years, when you think of it, etc.) and by how much (5%, 10%, a few pennies/pence/kronor/other relevant currency, etc.).
As for me, since I rarely work for agencies and since I don’t generally do just one kind of translation work, I don’t have completely set rates. Instead, I estimate the cost of each project by looking it over and trying to figure out how difficult it is, how much work is required, and how much time it will take me, plus I take into consideration how soon the client wants the work completed. This in turn means that I don’t have an annual increase in rates. Rather, as I get more experience and as I get more compliments and messages of gratitude from customers, I slowly increase my prices a bit. I probably don’t do this often enough, but as I try not to quote prices that are lower than I know I deserve or that I feel comfortable with, I am generally satisfied with rates that are fair both to my customers and to me.
From informally talking to other translators or from seeing messages on translation lists, however, it seems that an annual increase in rates is quite common. Judging by the rates people list, I estimate that their fees go up by about 8% a year. What do you do? Please vote below.
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