Different types of transcription are paid differently. The pay for general transcription is often calculated differently than medical or legal transcription.
There is a big demand for transcription services. Transcription documents words spoken. Plus, a person won't have to listen to conversations or speeches over and over again. Many industries use transcription. Instead of transcribing medical or legal content, the general transcriptionist transcribes general topics from voice mail messages to interviews, talks, meetings and other events.
Some transcription services are operated by large transcription companies while others are operated by home-based transcriptionists.
If you are looking for a career as a general transcriptionist, you should familiarize yourself with the kinds of transcription pay methods that are used in different industries. When working for yourself, you can set your own rates. Below are different ways a transcriptionist can get paid.
Per Line
Some clients and companies pay by line. This kind of transcription pay is typically used for medical transcription. The transcriptionist gets paid for the number of lines they type. Usually the company will set a particular number of characters as one line. For example, 60 characters is counted as one line. Then each character of the transcription is counted and divided into 60 and this determines the number of lines you typed for the transcription project. Then you simply multiply the number of lines by the amount you're paid by the line to calculate your pay.
Per Minute
The per minute rate is often used for general transcription. With this pay method, the transcriptionist gets paid per minute of recording. Keep in mind that it will take you approximately four times the length of the recording to transcribe a good recording. So, if you're getting a one hour recording, you can expect to spend four hours transcribing it. It will take longer to transcribe challenging audio with accents and multiple speakers. This is why the pay rate should be higher for difficult transcripts. There are many variables in the quality of audio and transcription jobs can range from easy one person dictation to more difficult transcripts with multiple speakers with accents and background noises.
Per Hour
Some general transcriptionists are paid an hourly rate for the time they spend transcribing the audio. This used to be a popular pay method for general transcription when working with local clients. But transcription work you'll get online will more often get paid by the audio minute.
Per Page
While this works similarly like the per line term, you should agree on the standard page layout, the size of paper, the font used, the spacing and even the margins.
Pay varies dramatically. How much you'll get paid and how you'll get paid will vary depending on your experience, the industry, and whether you're working for a transcription company or directly with your own clients. A new, inexperienced transcriptionist will start at low rates when working for a transcription company. But it's a good way to get your foot in the door and build experience. Don't get discouraged and don't give up too fast. As your experience and productivity increases, you'll be able to make good money while working from home.
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Transcription allows you to work from home, and it's ideal for people who need added income but need to stay home. It's good for single moms and college kids.
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