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going rate

going rate

16 3.5
The usual price or wage for something at a particular time
  • noun
translation icon : precio habitual
  • Okay, contractor, I'll pay you the going rate for labor on whatever job you're assigned.

Just give me the going rate, what's out there right now.

Examples

  • What's the going rate these days?

  • First-year pay of $85,000 emerges as the new going rate at the biggest firms.

    Academic text (2009)
  • You understand that I can only pay half the going rate?

    Fiction book (1992)
  • Get as much per hour on your going rate as you can.

    Blog text (1)
  • Just give me the going rate, what's out there right now.

  • And what's the going rate?

  • It's the going rate for judges.

  • Rather, I'd expect they just pay whatever their going rate is for the procedure.

    Blog text (3)
  • Second question, what is a fair going rate to pay your trainers that are employees across the board?

  • Last we heard, the going rate for commercial, bay-caught halibut is $4 a pound.

Synonyms

rate
vsgoing rate
2.1

The price charged for something often per hour or unit

is the commonly accepted standard amount rather than a formula-based charge
market price
vsgoing rate
21 2.5

The price people pay for something like shares or houses when it is bought and sold freely

is the generally accepted standard price rather than only the market transaction
pay rate
vsgoing rate
3 3.0

The amount of money a worker gets for each hour or week of work

is the commonly accepted standard amount rather than one specific contracted sum

How Expensive

high-interest
12 4.2
premium
74 4.3
going rate
16 3.5
low-interest
  • Specialized
33 3.4

Surface Forms

going rate singular
going rates plural

Morphology

going + rate

The meaning 'the price generally accepted at a particular time' is directly compositional from 'going' (here meaning current/prevailing) + 'rate' (price/charge). This adjective+noun pattern is common cross-linguistically and follows normal English composition, so a B1 learner who knows both constituents would very likely infer the MWE's meaning.

Etymology

Going rate may come from busy markets where a seller says an item is 'going' at a certain price that day. The word going shows what is happening now and rate means price, so it came to mean the 'usual' or 'current' price or wage.