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Life as a Translator - 2
There are two fundamental rules in the translation profession... |
For those of you that dream of translating a great novel or book and living off the royalties, doing so will be extraordinarily difficult. Authors generally get about 10% of the hardback sales and 4% or the paperback sales in royalties and they have to fight very hard to get that. They’re not going to yield part of it to some translator unless they absolutely have to. I’ve translated books and gotten paid the same way I did for everything else: by the word. Many years ago, different relations existed between publishers and translators, but nowadays, the only advantage to translating a book is that you have a lot of work for a long time. Also, royalty payments generally are paid starting six to twelve months after the book hits the bookstores, which will likely be six to twelve months after you finish translating it. That is too long to wait for a substantial amount of income, though this may be offset by an advance from the publisher, should you be able to get one. In sum, translating books can be a fascinating process, but approach it as a business proposition. Do the math if you are offered multiple payment options and make a strategic business and financial decision about the job.
If you’re thinking of translating literature, think twice. It takes a long time to translate a work of art, and even more for it to be published. You might get some kind of royalty out of it, but hardly enough to justify the time and effort you’ll expend cultivating the necessary relations with the publishers, editors, and of course, the writer (if alive). You really need to love literature if you want to do this. It can be very rewarding, I say so having done a bit of that work myself, but it is also quite demanding. Enter into such projects slowly and carefully, if at all.
So if you think $35,000 to $45,000 a year is enough to live on, to raise your family, and to prepare for retirement, then you’ll be fine financially in translation. Of course, there is the theoretical maximum, and you can increase your income by finding your own clients, or providing other services. And, when you consider that the average individual income in the U.S. in 1998 was roughly $25,000, translation looks all right.
However, this varies from month to month and year to year. Translation is a very fickle industry, subject to the vagaries of politics and economics like few other professions are. In 1988, the demand for Arabic translators was minimal, but thanks to Sadaam Hussein, in 1990, the demand soared. Now, the demand is low again. Before the fall of the Soviet Union, most Eastern European languages saw low demand, but now, the demand is much higher and growing. Japanese was in very high demand until the economic bubble burst. Things haven’t been the same for Japanese translators since.
Your income in one year is not a good indication of your income for the next year. In fact, it is no indication at all, unless you are so well established and work in such an esoteric (but still in high demand) field that you can somehow count on work always.
Furthermore, your income from month to month fluctuates. While you will never make so little as to have to choose between feeding yourself or your cat, you may well have little left over after basic expenses in some months. Other months will leave you with enough to take a luxurious vacation, though you should save at least some of that extra income in preparation for the months with less income.
In sum, if you can handle variety and unpredictability in your income, freelance translation is the profession for you. If you want a paycheck every month with the same amount on it, and you want to see that amount go up incrementally over the years, then look for an in-house position or a new profession.
OTHER FINANCIAL ISSUES
Something that most translators don’t realize during their first year in the profession and most would-be translators don’t consider is the financial aspects of working for yourself. This is complex, and changes from year to year, so I’ll be general here. However, keep all this in mind, and keep track of all this, because it is not only important, but it’s the law. And consult with a tax professional for answers to any detailed or unusual questions.
Free-lance translators are self-employed, meaning that they have to file a "Schedule C" at the end of the tax year. They also have to pay quarterly estimated income tax (both federal and state, unless your state does not require payment of state income tax). This can be difficult to do since a translator typically doesn’t know what his or her income will be. And they have to pay self-employment tax.
Sound unpleasant? Well, there’s more. Free-lance translators also have to pay all their Social Security tax, all their FICA tax, and any other taxes your state and our federal government invent in the future. Freelancers also have to fund their own retirement plans, though this does have some advantages, including more control over how your retirement funds are invested and higher ceilings for annual investment in retirement funds. And self-employed people need to arrange for their own health coverage and life insurance (if necessary), both of which tend to cost progressively more per year as one ages. And to top it all off, you have to pay Self Employment Tax, though one-half of that amount is deductible from your overall income tax. All in all, free-lancers end up paying a lot more in tax than someone who works for someone else.
However, you can take many more deductions than people who are regular employees can. First and foremost is the well-known "Business Use of Home" deduction. You can also deduct as expenses any and all equipment, tools, and supplies (computer hardware and software, paper, stamps, envelopes, paper clips, erasers, dictionaries, etc.) that you use, as well as a percent of your telephone and utility bills, and a part of your medical insurance costs (this percentage changes every year). Furthermore, you can deduct advertising costs, finance charges for business stuff bought with a credit card, and cost of membership to professional associations and subscriptions to professional journals and magazines.
Does this all balance out somehow? For some people more than others it does. As long as you keep track of everything you do, keep the receipts and records of when and where you do it, and take the time to prepare your taxes accurately and completely, you shouldn’t have any problems in this area.
A word of advice, however. Although recent changes to how the IRS performs audits as well as improvements to the IRS’s computer systems seem to be leading to more responsible auditing, all self-employed people are still vulnerable, particularly those whose annual income is higher than roughly $75,000 or whose deductions represent a substantial percentage of their annual income. In other words, don’t get too cute or clever with the IRS, or at least do so under the expert advice of an accountant.
HOW TO SURVIVE
There are two fundamental rules in the translation profession. Most successful translators seem to follow both, though some successful translators follow neither.
Rule Number One: Work in the country of your B language.
Rule Number Two: Marry a native speaker of your B language.
These rules are not meant to be humorous. Translators typically do make ten to twenty percent more working into a foreign language in the United States as compared to translating into English. And some agencies and employers are more comfortable giving work to a translator whose spouse is a native speaker of the translator’s B language. I’ve had a few agencies choose not to give me work because I was not married to a Japanese woman (Japanese is one of my B languages). Obviously these rules are not meant to suggest that those who break them are doomed to failure, but those who do will have to work harder.
Now then, what to do when there isn’t much work coming in? One possibility is rely on your spouse’s income (not feasible unless you are married). Another possibility is rely on the money you have in your bank account (assumes you have enough money). A third possibility is do something else part time.
Many translators also do other things on the side. I personally consider myself a consultant who provides language services to anyone who wants them. I have taught English, Japanese, and Spanish over the years. I have done copy editing, proofreading, and written abstracts and text analyses for people. I have worked part-time as a desktop publisher and a database consultant. I do some technical and commercial writing, including short articles for Transparent Language and operating manuals for QXCOM (now a part of Computer Associates). And I teach one class per year at the Monterey Institute of International Studies (the course is called, not surprisingly, "Translation as a Profession").
Never forget that the suite of abilities which translators possess can be applied productively to numerous related fields. Translators are often quite capable copy editors, proofreaders, and desktop publishers. Translators can readily make the transition to writing manuals for computer companies, articles for local papers or magazines, and even short stories or books. Translators can also teach the languages they know or prepare reference or educational materials. Some translators even make the move into interpretation, but be warned: interpretation is a very different animal from translation and requires thorough schooling in the techniques of consecutive and simultaneous interpretation.
Because translation is catch-as-catch-can and can even be seasonal, having a fall-back position is a good idea, particularly as you’re getting started in translation. I don’t know many translators whose clientele is so reliable that they have a constant and unending flow of work. You have to be ready for those dry spells. If you need money, then go get a part-time job or do something on the side. You can always work for a temporary agency. If you don’t need the money, then do one of those things you talk about doing all the time.
Continues ...
By Roger Chriss, USA
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Life as a Translator - 2. There are two fundamental rules in the translation profession... - Translation Articles - Trally.com
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