Is Online Transcription Work Worth It? - TypeWhizz

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is transcription work worth it

what is the average salary of a beginner transcriber

Is Online Transcription Work Worth It?

If you’re looking at becoming a transcriber, you’re probably wondering whether online transcription is really worth your time.

Online transcription work offers a host of benefits, with flexible working hours from home, unlimited earning potential, and weekly payments. There are certain criteria that you need to meet, and you’ll also need to be trained through a reputable company. That said, if you’re willing to put in the time and effort to gain experience, you can make a substantial amount of money from online transcription work.

Keep reading to find out the benefits of transcription, earning potential, and how you can get started on becoming a transcriber so you can start earning some money!

what is the average salary of a beginner transcriber

What Are The Benefits of Transcription Work?

Becoming a transcriber comes with a host of amazing benefits, which is why it’s so appealing to many people. That said, I’ve summarized the main benefits of transcription below so that you can decide whether this is something you’d like to pursue or not

1.Flexibility

One of the biggest perks of transcription is being able to choose your own working hours and work where you feel comfortable. As long as you meet the specified deadline and get the work done timeously and accurately, you’re free to work as you please. 
 

2. Unlimited Earning Potential

Besides the benefits of working your own hours, transcribing gives you the opportunity to maximize your earning potential. Unlike a set 9-5 job, transcribing gives you the opportunity to work as many hours as you please in order to make more money. If you need a little extra cash at the end of the month, you can simply pick up an assignment to help make ends meet.

3. Accessibility

Another great perk when it comes to transcription is the fact that it’s easily accessible and nearly anyone can do it. As long as you have a good grasp of the English language, have your own headphones, computer, and a quiet place to work, you’re the perfect candidate! As long as you pass the basics in the pre-test, you’ll be able to get started right away.

4. Safety and Work-Life Balance

With the current pandemic it’s always beneficial to work from a remote location if you can. Transcribing gives you the opportunity to make money in the safety and comfort of your own home, and you won’t have to worry about your superior hounding you. Transcription is also an excellent option for parents, as you can work freely while still supervising your children. 

5. Growing Opportunity

Many people think that there isn’t much growth when it comes to transcribing, but you can potentially make a lot of money. This is especially true for people with specialized skills such as lawyers or professors. The more knowledge you have and the faster you type accurately will determine how much money you can make, so it’s definitely worth giving it your best shot!


How Much Money Can Be Made Through Transcribing?

Firstly, it’s important to know that most transcribing companies pay per audio minute, which can be misleading. Most beginners earn between $3.00 and $11.00 per hour, whereas more experienced ones can earn up to $20. That said, it’s important to know that it will take you longer than one hour to listen to 60 minutes of talking, as you will be pausing frequently to listen and type. In fact, it can take you up to 4 hours to transcribe one hour of audio! 

With all this in mind, the amount of money that you earn depends heavily on the following factors:

  • The sound quality of the audio.
  •  Any disruptions from the meeting such as background chatter or general noise.
  • The accent of the speaker in the audio file.
  • Constantly repeating the audio due to lack of context or understanding.
These are some of the most common reasons, but there are several other factors that can play a role. In general, it can take an experienced transcriber one hour to transcribe a 15 minute audio, which gives you a pretty good idea as to how misleading payment can be! That said, the key takeaway here is that you can certainly expect to spend significantly longer on an audio file than its length, so you’ll need to keep that in mind when working out your hourly rate.
is transcription work worth it
is transcription work worth it

Is Transcription Work In Demand?

When it comes to any career, it’s always a good idea to do your research on the viability of you landing a job once you are qualified. There’s no point investing in a new venture if there’s a big chance you’ll end up jobless! That said, transcribing can be extremely competitive especially if you are a beginner, but that’s not to say you won’t find work. As technology increases, so does the need for audio and video information to be transcribed. This is particularly true for legal firms and the medical field, so if you have specialized knowledge this can certainly work in your favor!

The faster you type, your experience,  and the more accurate your work is, will all be determining factors in how many transcription opportunities you receive.

what is the average salary of a beginner transcriber

Do You Need Training For Transcribing?

For basic, work-from-home transcribing the process is relatively simple. Any reputable transcribing company will provide a training course for prospective transcribers. Prior to this, you will likely be asked to take a short quiz to determine your aptitude to write. Once you pass this course, you can then progress to the training aspect.

That said, legal transcription does require a legal certificate to ensure that you understand certain terminology, and the same goes for medical transcriptionists.

Conclusion

Online transcription work can certainly be worth it if you put the time and effort into training and gaining experience. You just need to make sure that you train through a reputable company and ensure that you have the right equipment to make your transcribing experience easier and more comfortable.

how to find transcription work