Dangers of the Translation Business

The translation industry today is a global phenomenon worth over $35 billion and could surpass $38 billion by 2018. The need for professional translation services well and truly remain despite machine translators such as Bing and Google Translate and the competition between translation agencies and translators is as fierce as ever for customer acquisition. Translation agencies will normally gain more clients than individual translators because they can offer more expansive services in various languages than an individual translator, and most translators will work with agencies because they carry a higher work flow.  The downside with translation agencies is that although some will keep a few of their best and most reliable translators on board and pay them a monthly salary or wage for their work, they bait newer translators with the lure of steady work, but they pay them inconsistently, or sometimes never at all. They tell translators that their work had a lot of errors and had to be redone or proofread, or something else to reduce the payment amount or in other words to keep the max profit from their deals made with their clients. Although many translation agencies have grown to be successful and very rich, many translators worldwide despite their best efforts struggle to make a living. This does not include all translators, but in most words 75% of the majority. The median salary in the US is $43,000 annually and in the UK around $30,000 per year. There are companies who post shady ads of making $100,000 in your first year and entice people to pay for their memberships to get more information, but in all honesty you will have to work extra hard to achieve that goal in realistic fashion. Most people will use Google and Bing for a quick rough translation, and now for paid services sites like Fiverr and others are disrespecting not just the translation profession, but other professions by having freelancers and professionals offer their services at a rate far inferior to the minimum wage just to attract clients. Translation is not a hobby but a serious profession which should not be taken seriously by clients, but also the professionals providing it. Picking the right translation agencies and companies to work with is the first step to wisdom in this industry and even though  we are a translation agency with our own interests, we believe that only way to success is getting the right balance in providing great customer service, but also to our translators who enable us to grow and enhance our reputation. Honesty and loyalty will always remain at the core of our business values, which are the main principles to success.