Translation rates: reducing cost without compromising quality

By / 28 October 2016 / Professional translation

Translation rates: How to reduce the cost without compromising the quality

With globalisation constantly evolving, these days the need for translation is inevitable – for both companies and individuals. However, recent research conducted by Regalix (State of B2B Marketing 2015), shows that 61% of the companies interviewed stated that the lack of budget was a common obstacle for the implementation of translated content. Let’s face it, if companies can’t afford translation rates, how are individuals meant to? But don’t lose hope, solutions exist. Mytranslation has put this article together to help you reduce your translation rates without compromising on quality.

Translation rates are influenced by the way the translation is done

There are 4 possible ways of conducting a translation:

1.       Machine translation (MT): inexistent translation rates, but what about quality?

MT is often free and fast, but hold your horses. Translation is a complex profession which requires years of study to perfection the skill. You cannot literally translate each word in a sentence and expect it to make sense since other linguistic rules apply; differences in punctuation, grammar and mechanics; cultural differences… MT may have improved over the years and translation rates may not apply, but a machine will always conduct a literal translation of words instead of the idea you are trying to evoke. Therefore, MT can be done for low or inexistent translation rates, but cannot guarantee a good quality translation.

2.       Getting a friend to translate your document: low translation rates, but can you trust them?

You may know a bilingual friend who has offered to translate a document for you. Their translation rates may be low (or inexistent), but do they really know how to translate? Unfortunately, an individual who speaks several languages fluently doesn’t necessarily know how to translate efficiently. Even bilinguals often fall into the trap of doing literal translations. As a consequence, if your bilingual friend translates your text, it is unlikely to flow naturally. In addition to this, let’s say your friend is a marketer, chances are they don’t have the necessary vocabulary to translate a legal contract. Translation requires professionals who are specialised in subject areas – a friend may not be able to guarantee this skill. Therefore, like machine translation, a friend can translate your document for low or inexistent translation rates, but cannot guarantee a good quality translation.

3.       Agency translation: great quality, but translation rates per hour aren’t always reasonable…

Agencies offer high quality translation, but their structure means they have internal translators, project managers, business developers etc… and grouping so many employees in an office incurs costs which are reflected in their translation rates per hour. The concept of translation agencies dates from before the rise in internet, which is why they don’t exploit the web to reduce their costs. Therefore, agencies can guarantee high quality translation, but at high translation rates per hour.

4.       Freelance translation: great quality, fair translation rates per word, is this the solution?

A freelance translator works from home and uses the internet to communicate with their clients. But finding a freelance translator isn’t easy, neither is it easy for a freelance translator to find translation work. This is why Mytranslation was created. Mytranslation has used the web to create a platform that puts translators (looking for work from home) in direct contact with clients (looking for a professional translator) for reasonable translation rates per word. Since the platform is web based, our small internal structure means our costs are reduced, consequently reducing translation rates whilst still guaranteeing professional, human translation.

To conclude, translation rates are low or inexistent for machine translation and friend “translators”, but neither can guarantee a good quality translation. Agencies offer high quality translation, but at extortionate translation rates per hour (between 0.15€ – 0.25€/word). However, Mytranslation has made a conscious effort to reduce translation rates per word by offering an online service that uses the concept of crowdsourcing to guarantee human translation.

Mytranslation translation rates per word and services

Mytranslation offers two types of services: Express and Auction translation services.

For urgent needs, we suggest the Express Service. Simply upload your document and our system will count the number of words to give you a price and deadline quotation (at a fixed translation rate of 0.09€/word). If you accept the quotation, your document will be posted to our online marketplace where the first translator to accept it will start working on it right away.

For less urgent needs, upload your document to marketplace for an auction time period and receive several freelance translator price and deadline proposals. At the end of the auction, you can compare the proposals and translator profiles to choose the translator you wish to work with (the minimum translation rate for this service is 0.06€/word).

For more information, visit Mytranslation.com or contact us.

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