Trends in the language services industry: What, me worry?

The last two years or so have been tough, in many ways. We’re all a little beat up, still trying to figure out “the new normal”, still waiting to see how some things will turn out. In our current context, it makes sense that a greater number of freelance language professionals are paying more attention to work-life balance, taking stock of where they are in their careers and where they want to go from a new perspective, and making changes which are healthy for their businesses and for themselves as individuals.

Quotes from language professionals:

Today I work tons and earn tons. But I'm 56 years old and don't know how long I can continue working 12 hrs per day 7 days a week with no vacation. In addition, post-editing is constantly increasing and requires a lot of work for half the pay. For the moment I've been able to refuse such jobs and remain with traditional translations but I don't know how much longer this will be possible. So I'm opening a restaurant in July and possibly a B&B next year.
 

I have a full-time job as a forensic anthropologist, which I love, but the payment is lower than the amount I need to live the life I desire, so I am looking for opportunities to start a side business as a freelance translator and possibly, if things go well, dedicate more time to translation than my current job. I love both, but being a translator is far more profitable than being a professor, with the space and time limitations the second carries, that are usually not a problem being a freelance translator. I would love to have more income and more freedom to choose where I am. I moved from the city I used to live in to have a better quality of life and be closer to my parents. Having a successful translation career will add to that quality of life, since I'd be free to manage my time and effort.