One of the great things about having a blog is that I get to ask questions that I don’t know the answers to, and then people who are smarter than I am will respond and fill me in. Here’s one that’s frequently asked by students in my online courses, and it honestly puzzles me as much as it puzzles them.
We’re talking agencies here: why are agencies willing to pay a per-word rate that effectively equals a much higher hourly rate than they’re willing to pay? Example: if an agency pays a translator 15 cents a word and that person produces 500 finished words an hour, the translator is effectively earning $75 an hour. But if that same agency contacts that same translator for hourly work (editing, proofreading, etc.), the proposed hourly rate is likely to be much lower (or even much, much lower). I can’t say I understand this myself, other than the fact that when an agency pays per word, its costs are completely fixed, whereas by the hour, they aren’t.
Thoughts? What’s up here?