It is certainly no easy task to determine the price of a translation nowadays. The reality is that the translation business is a free market in which each professional applies his or her own translation rates. Furthermore, when pricing a translation, it is important to distinguish between freelance translators and translation companies. Translation companies must take into account the fees of translators, proofreaders and the expenses derived from the management of the translation project. Serious translation companies with a great track record are those that comply with ISO 9001 and ISO 17100 quality standards.
How should the price of a translation be calculated?
There are countries that charge per source word or per page of 200 or 180 words translated. However, in Global Translation our rates are based on every 200 words translated in the target language.
What is the rate per word?
It is not possible to provide an exact amount, since the fee varies according to the language into which the document is to be translated or the terminological complexity of the document.
5 factors affecting the price of translations
There are many factors that influence the final price of a translation. In addition to the translation rates that each translation professional charges for their work, we will mention three factors that affect the price of translations: 1) the urgency, 2) the technicality, 3) the format of the documents, 4) the type of translation, and, of course, 5) the language combination.
- Urgency surcharge
The shorter the delivery time, the more likely it is that the professional will apply a surcharge for urgency and the final price will increase. Most commonly, a 25% surcharge for urgency is applied.
- Technicality of the document
The more specialized the subject matter of the document to be translated, the more knowledge the translator must have. Translating a technical document takes more time and effort and this is reflected in the price. The increase in the rate for technical documents varies between 15% and 30%.
- Format of documents
The price for translating a document formatted in Microsoft Word is less than the price for translating a web page, a PowerPoint file, or an InDesign file. If design or layout is required in addition to translation, there is an additional charge for additional work.
- The type of translation: Simple, Certified or Official
Official Translations usually have a higher price than Certified Translations. In Peru, official translations can only be done by Sworn Translators (TPJ) registered with the Ministry of Foreign Affairs. The number of official translators is lower than the number of certified translators. In addition, the TPJs have to follow a special and more complex process than the process followed by a Certified Translator, which is why the rates usually vary by a large percentage.
- Language combination
This is the factor that has the greatest impact on the price of a translation. As a general rule, the more translators working in a language pair, the greater the competitiveness and the lower the rates. Normally, a English to Spanish translator charges less than a translator from Italian into English, The price of translations is higher for English to Spanish translations, because there are many more translators from English to Spanish than from Italian to Spanish. The highest priced translations are translations with a language combination that is not in such high demand and where not many translators work. For example, a Serbian or Urdu translation can be twice the price of a French or Portuguese translation.
Source: NUEVA TRIBUNA
Adapted by: Global Translation E.I.R.L.
