Folks:
Using Excel's Data Table feature for what-if-analysis, here is a table showing the number of words required to be translated per week at any particular word rate for any desired annual revenue (irrespective of whether EUR/USD).
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Annual revenue
0.07 0.08 0.09 0.1 0.11 0.12 0.13 0.14 0.15 0.16 0.17 0.18 0.19 Rate... See moreFolks:
Using Excel's Data Table feature for what-if-analysis, here is a table showing the number of words required to be translated per week at any particular word rate for any desired annual revenue (irrespective of whether EUR/USD).
Code:
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Annual revenue
0.07 0.08 0.09 0.1 0.11 0.12 0.13 0.14 0.15 0.16 0.17 0.18 0.19 Rate
3000 10080 11520 12960 14400 15840 17280 18720 20160 21600 23040 24480 25920 27360
4000 13440 15360 17280 19200 21120 23040 24960 26880 28800 30720 32640 34560 36480
5000 16800 19200 21600 24000 26400 28800 31200 33600 36000 38400 40800 43200 45600
6000 20160 23040 25920 28800 31680 34560 37440 40320 43200 46080 48960 51840 54720
7000 23520 26880 30240 33600 36960 40320 43680 47040 50400 53760 57120 60480 63840
8000 26880 30720 34560 38400 42240 46080 49920 53760 57600 61440 65280 69120 72960
9000 30240 34560 38880 43200 47520 51840 56160 60480 64800 69120 73440 77760 82080
10000 33600 38400 43200 48000 52800 57600 62400 67200 72000 76800 81600 86400 91200
11000 36960 42240 47520 52800 58080 63360 68640 73920 79200 84480 89760 95040 100320
12000 40320 46080 51840 57600 63360 69120 74880 80640 86400 92160 97920 103680 109440
Words per week
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Now assuming one's annual revenue target is around 52800, the number of words to be translated per week works out to be 11000 at a rate of .10/word. The rate range chosen is entirely arbitrary, by the way!
The next table shows the number of jobs to be targeted per month if one is to achieve the desired number of words per week, assuming a certain job size that would depend on the domain:
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Number of jobs per month
2000 4000 6000 8000 10000 15000 20000 25000 30000 35000 40000 45000 Job size
3000 6 3 2 2 2 1 1 1 1 1 1 1
4000 8 4 3 2 2 2 1 1 1 1 1 1
5000 10 5 4 3 2 2 1 1 1 1 1 1
6000 12 6 4 3 3 2 2 1 1 1 1 1
7000 14 7 5 4 3 2 2 2 1 1 1 1
8000 16 8 6 4 4 3 2 2 2 1 1 1
9000 18 9 6 5 4 3 2 2 2 2 1 1
10000 20 10 7 5 4 3 2 2 2 2 1 1
11000 22 11 8 6 5 3 3 2 2 2 2 1
12000 24 12 8 6 5 4 3 2 2 2 2 2
13000 26 13 9 7 6 4 3 3 2 2 2 2
Words per week
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Thus continuing with the above example, 11000 words per week at an average job size of 6000 words would imply a target of 8 jobs each month.
I find this kind of analysis pretty useful, and Excel's what-if analysis features pretty cool. What do you guys think?
[Edited at 2009-02-14 09:03 GMT] ▲ Collapse
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You know, Anil, days like this remind me what fun it can be to have geeks as friends. (lest anyone misunderstand, that's a compliment.)
First, an off-topic question: how the heck did you get the table to display on Proz??!! Every time I try to post tabular data with the HTML table command it doesn't work. (I know, it's probably in a FAQ somewhere.)
Useful? Yes, actually, for those who have the nerve and concentration to look at numbers and understand them. That doesn't ... See more You know, Anil, days like this remind me what fun it can be to have geeks as friends. (lest anyone misunderstand, that's a compliment.)
First, an off-topic question: how the heck did you get the table to display on Proz??!! Every time I try to post tabular data with the HTML table command it doesn't work. (I know, it's probably in a FAQ somewhere.)
Useful? Yes, actually, for those who have the nerve and concentration to look at numbers and understand them. That doesn't apply to everyone, including my favorite translator in the world, but unfortunately there can be unpleasant consequences for "winging it" in a non-quantitative manner at times.
The first table can be put to other uses: making rough estimates of average word rates or weekly volumes based on annual income and one other variable. Not 100% accurate if you have many services in your mix that are charged in different ways, but as an approximation it's not bad. Thank you.
Why don't you think about creating a tab on your profile and posting stuff like this as a link there? ▲ Collapse
| | | | Anmol
Local time: 03:24
TOPIC STARTER | Thanks, Kevin | Feb 14, 2009 |
I'm glad you qualified the use of the word geek since it has a wide variety of connotations. However, since the majority of the definitions for this word (at wikipedia) are ones I agree with, I do indeed take it as a compliment
(
These being
# A person who is interested in technology, especially computing and new media. Geeks are adept with computers, and use the term hacker in a positive way, though not ... See more I'm glad you qualified the use of the word geek since it has a wide variety of connotations. However, since the majority of the definitions for this word (at wikipedia) are ones I agree with, I do indeed take it as a compliment
(
These being
# A person who is interested in technology, especially computing and new media. Geeks are adept with computers, and use the term hacker in a positive way, though not all are hackers themselves. BY TRAINING
# A person who relates academic subjects to the real world outside of academic studies; for example, using multivariate calculus to determine how they should correctly optimize the dimensions of a pan to bake a cake. AS IN MY MBA MINDSET
# A person who has chosen concentration rather than conformity; one who passionately pursues skill (especially technical skill) and imagination, not mainstream social acceptance. I CAN BE HIGHLY POLITICALLY INCORRECT
# A person with a devotion to something in a way that places him or her outside the mainstream. I AM A FIRM BELIEVER IN THE BRIGHT FUTURE OF THE LANGUAGE INDUSTRY, DESPITE BEING REALISTIC)
)
The table displays with the CODE /CODE tags in a post. It has a few glitches (note the distortion of cell values under 0.15), but basically achieves its purpose. Yes, the HTML table command does not work, I wish that could be fixed, since there was some highlighting of cells that would have been useful to retain.
Creating a tab is a good idea. I'm not sure how to go about it, and didn't see any direct reference to it under My Proz. Writing an article about it is another option, but I like the tab better.
I just received a request for the Excel file with the what-if analysis, so I'll just mail it to anyone else who wants it as well. The what-if features of Excel are not bad, and I believe heavily used by some local governments (at least East Haven CT did). Quite adequate for freelancers!
And Kevin, it's great to know someone with whom learning never stops, including in esoteric areas like walking the dog (and I'm planning to get one soon too)! ▲ Collapse
| | | | | Adding custom tabs to your profile | Feb 14, 2009 |
From your profile, select the Settings tab, then click the red "Custom tabs" link and after that "Click here to add a tab". Take it from there....
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Jenn Mercer 
United States
Local time: 16:54
Member (2009)
French to English
| Great chart! | Feb 15, 2009 |
This chart is wonderful for introducing some useful facts to the subject of translation rates. Your numbers are spot-on with my own rough calculations, but much more complete.
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to say it is not as useful as it is supposed to be.
Columns with/data for rates ranging between 0.01 and 0.06 are missing.
:0)
| | | | | | Anne Lee
United Kingdom
Local time: 21:54
Member (2003)
Dutch to English
+ ...
| useful, but also consider holidays | Feb 15, 2009 |
An excellent Excel sheet, that gives pause for thought. It would be useful to also make allowances for holidays and pension payments, though.
Andrew Bibby, a journalist, made a useful calculation for freelancers, also providing for pension payments. The Freelance ready reckoner can be... See more An excellent Excel sheet, that gives pause for thought. It would be useful to also make allowances for holidays and pension payments, though.
Andrew Bibby, a journalist, made a useful calculation for freelancers, also providing for pension payments. The Freelance ready reckoner can be found on:
http://www.andrewbibby.com/pdf/Freelance%20ready%20reckoner%202007.pdf
[Edited at 2009-02-15 12:25 GMT] ▲ Collapse
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Anmol
Local time: 03:24
TOPIC STARTER | Maybe not as arbitrary as I had indicated ;-) | Feb 15, 2009 |
Sergei Tumanov wrote:
to say it is not as useful as it is supposed to be.
Columns with/data for rates ranging between 0.01 and 0.06 are missing.
:0)
Darn... I wonder how that happened....
[Edited at 2009-02-15 16:46 GMT]
| | | | Anmol
Local time: 03:24
TOPIC STARTER | Taking the ready reckoner into account | Feb 15, 2009 |
Anne, based on figures in the ready reckoner you provided, I assumed an average contribution of 50% by an employer and accordingly, the annual revenue for a freelancer, in view of the absence of employee benefits, works out as under:
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Revenue taking lack of employee benefits into account
12800 0.07 0.08 0.09 0.1 0.11 0.12 0.13 0.14 0.15 0.16 0.17 0.18 0.19 Rate
3000 6720 7680 8640 9600 10560 11520 12480 13440 14400 15360 16320 17280 18240
4000 8960 10240 11520 12800 14080 15360 16640 17920 19200 20480 21760 23040 24320
5000 11200 12800 14400 16000 17600 19200 20800 22400 24000 25600 27200 28800 30400
6000 13440 15360 17280 19200 21120 23040 24960 26880 28800 30720 32640 34560 36480
7000 15680 17920 20160 22400 24640 26880 29120 31360 33600 35840 38080 40320 42560
8000 17920 20480 23040 25600 28160 30720 33280 35840 38400 40960 43520 46080 48640
9000 20160 23040 25920 28800 31680 34560 37440 40320 43200 46080 48960 51840 54720
10000 22400 25600 28800 32000 35200 38400 41600 44800 48000 51200 54400 57600 60800
11000 24640 28160 31680 35200 38720 42240 45760 49280 52800 56320 59840 63360 66880
12000 26880 30720 34560 38400 42240 46080 49920 53760 57600 61440 65280 69120 72960
Words per week
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And assuming a final tax bracket of 30%, profit after tax works out to
Code:
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Profit after tax
8960 0.07 0.08 0.09 0.1 0.11 0.12 0.13 0.14 0.15 0.16 0.17 0.18 0.19 Rate
3000 4704 5376 6048 6720 7392 8064 8736 9408 10080 10752 11424 12096 12768
4000 6272 7168 8064 8960 9856 10752 11648 12544 13440 14336 15232 16128 17024
5000 7840 8960 10080 11200 12320 13440 14560 15680 16800 17920 19040 20160 21280
6000 9408 10752 12096 13440 14784 16128 17472 18816 20160 21504 22848 24192 25536
7000 10976 12544 14112 15680 17248 18816 20384 21952 23520 25088 26656 28224 29792
8000 12544 14336 16128 17920 19712 21504 23296 25088 26880 28672 30464 32256 34048
9000 14112 16128 18144 20160 22176 24192 26208 28224 30240 32256 34272 36288 38304
10000 15680 17920 20160 22400 24640 26880 29120 31360 33600 35840 38080 40320 42560
11000 17248 19712 22176 24640 27104 29568 32032 34496 36960 39424 41888 44352 46816
12000 18816 21504 24192 26880 29568 32256 34944 37632 40320 43008 45696 48384 51072
Words per week
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And we haven't taken business expenses into account yet!
Hmmm... a conclusion that is safe to draw from the above is that even working at a full capacity of around 2250 words/day (5 days a week, 52 weeks of the year, not a very likely scenario for most), rates below .10/word are not really very profitable in the final analysis. And that the above does NOT indicate we should all rush out to become employees... but that we should raise rates.
QED
[Edited at 2009-02-15 17:22 GMT]
[Edited at 2009-02-15 18:28 GMT]
| | | | Damian Harrison (X)
Germany
Local time: 22:54
German to English
The table is great. Thanks for your efforts Anil and the same to Kevin Lossner for mentioning the table on his blog.
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