| Pages in topic: < [1 2 3 4 5] > | Plummeting value of GBP since Brexit Thread poster: Tom in London
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Peter Ward 
United Kingdom
Local time: 17:37
Member (2008)
German to English
| Rate reduction | Oct 14, 2016 |
One of my agencies in Germany has just proudly announced on its web site that it is going the "pass on" the drop in the pound to its customer in the form of a 10% reduction in their rates, which means a 10% reduction in my rate. I am less than happy, to say the least. I just hope that this does not become standard practice. I hope they will be able to cope with the additional work they get because I think they are going to start losing GB translators soon.
[Edited at 2016-10-14 16:37 GMT]
| | | | Tom in London
United Kingdom
Local time: 17:37
Member (2008)
Italian to English
TOPIC STARTER
Peter Ward wrote:
One of my agencies in Germany has just proudly announced on its web site that it is going the "pass on" the drop in the pound to its customer in the form of a 10% reduction in their rates, which means a 10% reduction in my rate. I am less than happy, to say the least. I just hope that this does not become standard practice. I hope they will be able to cope with the additional work they get because I think they are going to start losing GB translators soon.
Surely they can't reduce their € rate?
| | | | Thomas Pfann
United Kingdom
Local time: 17:37
Member (2006)
English to German
+ ...
| Good for UK-based translators | Oct 14, 2016 |
Peter Ward wrote:
One of my agencies in Germany has just proudly announced on its web site that it is going the "pass on" the drop in the pound to its customer in the form of a 10% reduction in their rates, which means a 10% reduction in my rate. I am less than happy, to say the least. I just hope that this does not become standard practice. I hope they will be able to cope with the additional work they get because I think they are going to start losing GB translators soon.
No, it doesn't mean a reduction in your rate unless you actually reduce your rate. If you charge them in sterling, then you will be cheaper for them because of the exchange rate, not because you are being paid less. That's a saving which your German agency can pass on to their clients if they want to - it doesn't affect you at all.
And they are not going to lose UK-based translators but they will probably aim to work more with UK-based translators because we are now cheaper. At the same time, invoicing clients in euros has become more attractive for us UK-based translators, because we earn more. This time last year you would have received around £70 for a €100 invoice, today you'd receive closer to £90 for the same invoice.
Let's see how long it lasts.
| | | | | Post removed: This post was hidden by a moderator or staff member because it was not in line with site rule |
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| Post removed: This post was hidden by a moderator or staff member for the following reason: Reply to a hidden post | | That's just it. | Oct 14, 2016 |
I'll just go ahead and hide the post myself for replying to a hidden post and for looking stupid and self-righteous without the context of that post.
[Edited at 2016-10-14 20:14 GMT]
[Edited at 2016-10-14 20:34 GMT]
| | | | Ilan Rubin (X)
Russian Federation
Local time: 19:37
Russian to English
Dan Lucas wrote: Michael Wetzel wrote:
Why would Chris be want to look like a male model and be sad she doesn't? I don't know Chris' gender so I guessed. I had a ~50% chance of getting it right...
Only if 50% of people called Chris are male. But I suspect it's far more than that.
| | | | Thomas Pfann
United Kingdom
Local time: 17:37
Member (2006)
English to German
+ ...
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Dan Lucas
United Kingdom
Local time: 17:37
Member (2014)
Japanese to English
ILAN RUBIN wrote: Dan Lucas wrote:
I don't know Chris' gender so I guessed. I had a ~50% chance of getting it right... Only if 50% of people called Chris are male. But I suspect it's far more than that.
Yes, that's a good first step, but then you have to bear in mind that the translation industry seems to have far more female workers than male workers, so your sample is skewed towards the distaff side from the start, boosting the likelihood that "Chris" is actually a short form of "Christine" or "Christina" or somesuch.
Dan
| | | | S_G_C
Romania
Local time: 19:37
English to Romanian
Tom in London wrote:
If you look at those job advertisements I don't know if the rate offered is below the UK minimum wage, but it looks low to me. The advantage the foreign workers have is that they are not paying rent.
Are you sure they aren't paying rent?
I confirm the local language advertisements. Here is one for warehouse workers, men and women: https://www.olx.ro/oferta/locuri-de-munca-in-anglia-plecari-urgente-ID6UfvS.html#f2718dda7b
It says:
Salariile minime sunt de 7,2 lire/ora (pentru cei cu varsta de peste 25 ani) si 6,7 lire/ora (cei sub 25 ani).
which translates to
Minimum wage: 7.2 GBP/hour for those aged over 25 and 6.7 GBP/hour for those aged under 25.
But it also says
Totusi, drumul si cazarea vor fi cheltuielile dvs, noi oferindu-va locul de munca si suport in asa fel incat sa incepeti munca cat mai curand posibil dupa ce va cazati. Va fi necesar sa aveti bani sa va intretineti in primele 2 saptamani pana la primul salariu, in total de aprox. 350-400 lire cu care ajungeti in Anglia si cu care veti plati cazarea (incluzand chiria si garantia - recuperabila ulterior), mancarea si eventual, trasportul daca depozitul e mai departe de casa unde locuiti. Dupa aceea, salariul se va plati saptamanal pe card, iar documentele necesare sederii si muncii dvs in Anglia se vor obtine treptat, in timp ce munciti.
which translates to
However, you will have to pay for your trip and accommodation. We will provide jobs and support so that you should start working as soon as possible after you find that accommodation. You will have to have enough money to support yourselves during the first two weeks, until you receive your first payment, a total of approximately 350-400 GBP to take with you to the UK and pay for the rent and deposit - which will be refunded later on, food and maybe transportation, if the warehouse is farther from the house you live in. Afterwards, you will receive your weekly salary into your card account, and the papers needed for your stay and work in the UK will be obtained gradually, while you are there working.
This is for car washers: https://www.olx.ro/oferta/spalatorii-auto-anglia-cauta-romani-fara-experienta-ID74yai.html#f2718dda7b
Liverpool, 200 GBP/week, no experience needed.
Nurses, men and women: https://www.olx.ro/oferta/locuri-de-munca-infirmieri-anglia-ID77tiq.html#f2718dda7b + https://www.olx.ro/oferta/infirmieri-si-asistenti-medicali-anglia-ID6VthS.html#f2718dda7b - these ones state "accommodation provided by the employer, cheaper than usual" + other incentives.
| | | | S_G_C
Romania
Local time: 19:37
English to Romanian
| And directly in English... | Oct 16, 2016 |
| | | | Tony Keily
Local time: 18:37
Italian to English
+ ...
| Take a long look... | Oct 17, 2016 |
If you take a longer look at the GBP/EUR exchange rate, you'll see the current rate is not outrageously low and that the average over ten years was much lower than the rate between 2014 and 2016, when the euro was affected by QE.(http://www.xe.com/currencycharts/?from=GBP&to=EUR&view=10Y)
It's only justifiable for agencies to cut their rates now if they were offeri... See more If you take a longer look at the GBP/EUR exchange rate, you'll see the current rate is not outrageously low and that the average over ten years was much lower than the rate between 2014 and 2016, when the euro was affected by QE.(http://www.xe.com/currencycharts/?from=GBP&to=EUR&view=10Y)
It's only justifiable for agencies to cut their rates now if they were offering bonuses when things were slanted in their favour by the FX rates.
Having said that, we've all seen dozens of sterile forums on what's "justifiable" in terms of pricing.
Personally I'd advise people to tell their GBP customers to hold tight for a while and see how things go. In any case, agencies in the UK who stipulated client contracts in euro are having a windfall and can currently bid very competitively for Eurozone contracts. ▲ Collapse
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Dan Lucas
United Kingdom
Local time: 17:37
Member (2014)
Japanese to English
| You miss the point | Oct 17, 2016 |
Tony Keily wrote:
...the current rate is not outrageously low... It's only justifiable for agencies to cut their rates now... can currently bid very competitively for Eurozone contracts...
Er, Tony, I don't think you understand. This thread is a place for despairing moans about how a Weaker Currency is a Bad Thing, a priori. It's not a place for long-term perspective, reasoned argument and the cool balm of logic.
While we're the topic of reasoned argument, an interesting piece by Larry Elliot in the Guardian, making the case that there are four good reasons to see upside to the weaker pound, from a left-of-centre perspective. Well worth a read. As he says:
"To say that dearer imports will make life more difficult for consumers is to miss the point. That’s how rebalancing works." He also makes the point, as I have done more than once in this forum, that if Greece had its own currency the country would be going through a much less brutal transition.
Still, I suspect the article won't have endeared Larry to the other hacks on the Grauniad.
Dan
| | | | | it depends on what you do... | Oct 17, 2016 |
a weaker pound will be good for some, bad for others... 
| | | | XXXphxxx (X)
United Kingdom
Local time: 17:37
Portuguese to English
+ ...
| "Rates in pounds" | Oct 21, 2016 |
Sure enough, a Paris-based agency has just sent a round robin asking for my "rates in pounds".
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