Recently, thebigword wrote translators to explain why it was further lowering its already lousy rates: a tragic story of actually having to pay people to assist the company in becoming (according to its own advertising claims) “the leading, highest earning global LSP.”
Brings tears to your eyes, doesn’t it? Poor tycoons! Being forced to reduce their per-word rate to .038 GBP (about $0.05 US)! And it’s all because they have to fly people around in planes!
Moral of the story: If you want your life as a translator to get better, tell agencies like thebigword they should stop flying and, instead, should take a flying leap.
We are writing to advise you that thebigword is to amend the fees it pays to translators. This will bring thebigword into line with other large LSPs that are servicing the needs of large Government and Corporate contracts. This has been driven by changes in the way that these organisations operate which has created a downward pressure on costs. Coupled with an increased cost of sales and significantly extended sales cycle, this has eroded margins to the point where the rates that we are currently paying you are not viable in this very competitive market place.
I would like to explain the efforts we put into generating business which creates work for you as one of 4,000 translators in more than 70 countries that carry out projects for us every month.
At present, thebigword employs 60 sales people worldwide who, as a group have to take 80 flights a month and on average, have to each spend 2-3 nights a week away from their family and home. We employ a further 50 people who recruit, interview and test linguists in order to maintain the high standard of our service. In addition, we support our global linguists’ community with more than 250 project management staff from our 10 global offices who liaise between our customers and yourselves. We also have over 50 people working on our technology so that we can improve our internal efficiency, drive down our internal costs and provide the state-of-the-art, highly secure systems that our customers now demand, and that you need to deliver your service.
However, having said all of this, never before has our industry experienced such huge pressure from both the private and public sector to drive down prices. This, of course, is not necessarily for their own profit but simply a reaction to the state of world economies. At thebigword we have endeavoured to keep our rates to the highest possible level whilst enabling us to keep the work flowing to you but at the present time, those rates are not viable in the competitive marketplace. Therefore, with effect from Thursday 18th July, thebigword will change its payment per word rate to 0.038 GBP. These rate changes are not retrospective but will apply to any new work received from Thursday 18th July 2013.