Overview
Per-Word Rate is a pricing model that calculates translation fees based on a “rate per word.” This system provides clear and fair pricing determined by the volume of the project.
Terminology
Per-Word Rate is a pricing model that calculates translation fees based on the number of words in the source text or the translated text. The rate may be adjusted depending on the project’s volume and complexity, making it the most common pricing structure in the translation industry.
Examples: Rates are typically presented in formats such as $0.10/word (10 cents per word) or ¥15/word.
Use Cases
- Creates estimates when translation agencies assign projects to translators
- Determines invoicing for clients
- Allows freelance translators to outline their own rate structures
Benefits of Implementation
- Provides transparent pricing based on project volume
- Provides accurate estimates based on the word count
- Accommodates projects of any size
Precautions / Challenges
- The basis for word count (source text or target text) may lead to confusion.
- Additional fees may apply for projects requiring tight deadlines or expertise in certain topics.
