So the New York Times, bringing to public attention the harrowing saga of “serial renters” in the Big Apple, dropped this intriguing item in its Real Estate section last March 28:
Kelly Marek, 30 … a global account director for TransPerfect, a translation services company, moved this month to a 750-square-foot apartment on the Upper East Side. The rent is $3,600 a month, and although the corner apartment has partial river views, she signed a one-year lease, not willing to commit to a longer term.
Let’s do the math. If Ms. Marek is forking over $3,600 a month on rent, she’s paying $43,200 a year for her sad little 750 sq. foot apartment with “part. riv. vus.”
And that, in turn, allows us to estimate, conservatively, that TransPerfect (“one of the fastest-growing privately held companies in the U.S. and one of the largest privately held companies in New York”) is paying her something in the neighborhood of $129,600 per year.
Shocking, right? Because you’d think a company that claimed $401 million in revenue in 2013 — and has reported an average bump in revenues of $40 million every single year of the last eight — could pay its global account directors a LOT better than that.
Theological question: How many translators working for less than $0.05/word does it take for you to be able to dance in a cozy little apartment on the Upper East Side?
Apparently, Elizabeth Elting, Phil Shawe, and Kelly “Forced To Rent” Marek know just what side their peanuts are buttered on. It’s an American tragedy, is what it is.