Here’s how the freelance market for translation in Taiwan has been over the past couple of decades.
1990s: great. Good pay, low cost of living. Few native speakers on the market. Downside: clients don’t have a clue about whether an English document is well-written or not, so many won’t pay a premium for native English.
2000s: okay. Rates starting to come down. More online “kitchen table” agencies started by people without a clue about the industry but with an Internet connection, acting strictly as middlemen without adding any value to the transaction. More responsibilities put onto translators (“Do you have a proofreader you regularly work with?”) and expected to be provided at the basic rate of pay. I didn’t work for less than NT$2 at this time; used to get NT$3 from MOFA, more from certain private clients. Clients would sometimes offer to diddle the payment structure (“We can pay you the editing fee as well as the translation fee to make the rate higher”, etc.)
2010s: Rates going down, agencies proliferating, machine translation on the upswing, crowdsourced translation sites exploding. Even overseas, prices for Chinese>English are plummeting due to huge market entry by people in China and India (yeah, not native or even good English writers but who cares when the rates are so low?) There are still some higher-end clients (either end users or “good” agencies) but many are long-term clients I’ve had for 10 years or more, and some are disappearing quietly, often turning to cheaper alternatives. Because, you know, my secretary can just “fix” the English. More and more, agencies are just databases with an online interface. Translators are expected to “enter their details”, “update their details” and even, in some cases, “keep your availability current” (like I have time to go onto the web sites of 500+ agency clients and “update” my weekly availability).
The worse the economy gets, the more people decide that translation is an easy way to pick up a few extra bucks, which then pushes rates lower again.
My friends who are established freelance translators in Taiwan are now doing more “other things” than translations because the workload/offers is dropping so much. I can’t speak for salaried positions; I never held one in this industry.
The point about interpreting is that there is no market. Not in Taiwan, and hardly any more anywhere else. There is little demand for simultaneous interpretation (which is what pays what people consider to be the “big bucks”) and established interpreters jealously guard their connections and clients. In Taiwan, that means the first generation of simultaneous interpreters who grew up abroad, are double-As, and who have connections because Daddy is a minister of this or that. New clients tend to advertise anew for every. single. job (both for translation and interpretation) which is very frustrating if you’ve done a job well for them last time but apparently that “doesn’t count” anymore if there might be someone who will do it this time for $5 less. And the translation and interpreting programs continue to push out graduates. I’ve been favorably impressed with the language skills of many of the students in the programs of late, but I have absolutely no idea where these people are going to find a job in Taiwan, unless it’s as faculty teaching at a new T&I program at some outside-Taipei university or college. That would be about the only growth opportunity I see – being a lecturer at a college that has an undergraduate language program and wants to provide interpreting classes for them, not with the expectation that they will ever work conferences, but just to improve their language and maybe set them up to interpret for visitors to a company or something.
I myself am seriously wondering if I will be able to finish out my working years doing translation and interpreting. I’m in the States now, but I would have the same concerns in Taiwan (and have for some years now). I strongly believe that the years when someone could make a living only because s/he spoke reasonable Chinese (or even very good Chinese) are past. I’ve been fortunate to be able to do that so far but I don’t see an easy way forward with it even for the next 10 years or so.