Basic Transcription Terms You Need to Know
- Audio Minute / Hour – this is the duration of the recording that needs to be transcribed and NOT the amount of time you work to transcribe the file. This is also sometimes called video or media minute. Most transcription companies pay per audio minute or audio hour and not per working minute or working hour. It typically takes an average person 4 working hours to transcribe 1 audio hour, while experienced transcriptionists take 2-3 hours.
- Minimum and Maximum Pay – This is the range of money you can get paid per job which varies depending on the company. If the range is $0.30 (minimum) to $1 (maximum) per audio minute, that means that the jobs available on the site could be priced anything between these two amounts. A company offering high minimum base pay is usually much better.
- WPM – refers to words per minute, which is the indication of a person’s typing speed. The average person types 40 WPM while fast typists can go up to 80-100 WPM
1. Way With Words
- Payment Rates: $0.45 to $1.73 per audio minute
- Payout Schedule: Monthly payout via PayPal
- Availability of Jobs: High
- Experience Required: No
Best for beginners looking for high maximum pay
Way With Words has one of the highest maximum pay per audio minute in the industry at $1.73. Transcriptionists also report that most of the recordings are of good quality and the work culture is great. Even if you don’t have any experience as a transcriptionist, you can work at Way With Words as long as you pass their tough English language and transcription test. If you are confident that you have above-average language, listening, and typing skills, then this company should be your first stop.2. Daily Transcription
- Payment Rates: $0.75 to $0.85 per audio minute
- Payout Schedule: Weekly payout by check
- Availability of Jobs: High
- Experience Required: No but needs to be US & Canada resident and have at least 50 WPM typing speed
Best for beginners looking for high minimum base pay
What makes working at Daily Transcription attractive for many transcriptionists is the high minimum base pay per audio minute of $0.75, which is a lot higher than other companies only offering as low as $0.03 per audio minute. Daily Transcription accepts transcriptionists even without prior experience. You need to pass their skills assessment and transcription tests to get hired as well as have a typing speed of at least 50 WPM.3. GMR Transcription
- Payment Rates: $0.70 to $1.25 per audio minute
- Payout Schedule: Monthly payout via PayPal or bank transfer
- Availability of Jobs: High
- Experience Required: No but US residents only and foot pedal, headphones required
Best for beginners looking for a steady amount of work with relatively high minimum and maximum base pay
While you don’t need any transcription experience, you need to pass an exam, a transcription test that lasts for 2 hours, and to invest in a couple of computer accessories like a foot pedal and headphones to be considered for this job. You also don’t get to choose how little you want to work because you are required to meet a minimum work quota of completing 4 audio hours per month. This is, however, great for people who need to have consistent work at acceptable rates.4. Rev
- Payment Rates: $0.30 to $1.10 per audio minute
- Payout Schedule: Weekly payout via PayPal
- Availability of Jobs: High
- Experience Required: No
Best for beginners living outside the United States
If you’re not a resident of North America, you can still apply at Rev. Rev is proud of having over 50,000 freelance transcriptionists, which they call “Revvers”, all around the globe. Compared to the other companies, Rev’s minimum and maximum pay range is in the middle of the pack but it remains popular because it is quite easy to get in as the entry tests are very straightforward. The schedule is also very flexible. There is no minimum amount of work you need to complete and there is no maximum. It depends on you how much work you want to take on. However, there are also negative reviews about recordings having poor quality and the average price offered for jobs is low compared to the work required to complete them.5. TranscribeMe
- Payment Rates: $15 to $22 per audio hour
- Payout Schedule: Weekly via PayPal
- Availability of Jobs: Average
- Experience Required: No
Best for advancement opportunities
TranscribeMe is a good site for newbies to check out because they also accept people with zero experience, from any country in the world. The TranscribeMe pay range may be low but once you get better, there are advancement opportunities like applying for special transcription projects, which pay better rates. You can also work as little or as much as you want as long as jobs are available.6. Casting Words
- Payment Rates: $0.085 to a bit over $1 per audio minute with a bonus depending on work grade
- Payout Schedule: Weekly payout via PayPal
- Availability of Jobs: High
- Experience Required: No
Best for getting bonus payments
While the minimum base pay is quite low, the good thing about Casting Words is that you get paid based on your performance. Depending on your grade on the job you completed, you get paid a bonus amount. The better you get, the higher you get paid.7. Scribie
- Payment Rates: $5 to $25 per audio hour
- Payout Schedule: Anytime via PayPal
- Availability of Jobs: Medium
- Experience Required: No
Best for people looking to get instant cashouts
Scribie is admittedly one of the lowest paying sites out there. Getting paid $5 per audio hour amounts to $0.083 per audio minute transcribed. This site is only recommended if you want to practice your transcription skills and still get paid for your work. The best thing about Scribie is you can cash out anytime even if you only have a dollar in your account.8. Crowdsurf
- Payment Rates: $0.03 to $0.20 per media minute with additional bonus rates
- Payout Schedule: Daily via Work Market or Amazon Mechanical Turk Account (you can transfer your funds to your bank or PayPal)
- Availability of Jobs: Average
- Experience Required: No
Best for people looking to transcribe very short clips
Crowdsurf is another low-paying site but the upside of this company is that the clips are reportedly interesting to watch and the clips are only from 5 to 30 seconds. This means no long interviews or complicated recordings which will take the bulk of your day. If you have a very short attention span and you’d rather complete short clips then this site is worth checking out.9. Tigerfish
- Payment Rates: $0.03 to $0.20 per media minute with additional bonus rates
- Payout Schedule: Daily via Work Market or Amazon Mechanical Turk Account (you can transfer your funds to your bank or PayPal)
- Availability of Jobs: Average
- Experience Required: No
Bets for beginners looking to get paid per word
This is one of the few transcription companies that pay you for every word you transcribe so this will benefit beginners who are fast typers. If you type 70 WPM, you can earn around $21 per working hour. While you don’t need to have any experience, you are reportedly required to purchase a transcription software that costs $229 once you get accepted. You will also need a foot pedal and a Windows-based computer if you want to continue.10. Audio Transcription Center
- Payment Rates: $150 per audio hour for foreign language and $60 per audio hour for English,
- Payout Schedule: Weekly checks
- Availability of Jobs: Average
- Experience Required: No but at least 75 WPM
Best for people who are fast typists and know a foreign language
With Audio Transcription Center, the rates are quite good because you get paid at least $1 per audio minute. You don’t need prior experience, however, you need to be an excellent typist to even qualify.
This is a good site to check out if you have previous experience as a secretary or as a data entry employee. It is also a great opportunity if you know a foreign language because you get paid more than double.
11. 3Play Media
- Payment Rates: $10 to $30 per working hour
- Payout Schedule: Monthly check or bank deposit
- Availability of Jobs: Low
- Experience Required: Yes with at least 75 WPM and US residents only
Best for experienced transcriptionists looking to get paid per working hour
Many people get confused about getting paid per audio hour, not really understanding that this is not similar to working hours. But with 3Play Media, there is no mistake because if you get in, you can actually get paid per working hour! This job, however, is for experienced transcriptionists based in the United States and you also have to type 75 WM.
12. Averbach Transcription Center
- Payment Rates: $1.00 per audio minute and $1.50 for rush jobs
- Payout Schedule: PayPal
- Availability of Jobs: Average
- Experience Required: 2 years
Best for experienced transcriptionist looking for high minimum base pay
If you have at least 2 years of experience working as a transcriptionist, you can try applying at Averbach. The $1 minimum pay per audio minute, which means if it takes you 3 hours to transcribe 60 minutes of audio, you can get paid at least $20 per working hour. Types of files being transcribed are usually focus group discussions and raw footage for television programs and films.
13. Transcript Divas
- Payment Rates: $0.84 to $2.98 per audio minute (average $1.39 per audio minute)
- Payout Schedule: Twice a month via PayPal
- Availability of Jobs: Average
- Experience Required: Yes
Best for experienced transcriptionists looking for a high pay rate
Transcript Divas is another company that you should try applying in if you’re already experienced. While they do not initially require experience, you’ll be asked to fill out an application form indicating how many hours of transcription you have done in the past. You also need to send a resume, which makes the application process more stringent than other companies. The advantage, however, is that the pay is quite good as the average pay per audio minute is said to be at $1.39.
14. Speechpad
- Payment Rates: $0.25 to $2.50 per audio minute
- Payout Schedule: Tuesday and Friday via PayPal
- Availability of Jobs: High
- Experience Required: Yes with at least 40 WPM
Best for experienced transcriptionist who wants to get paid twice a week
Speechpad is also a high-paying site that experienced transcriptionists should check out, with a maximum pay of $2.50. You need to have prior experience and a typing speed of 40 WPM as well as passing the entry tests. Unlike other transcription sites that pay well which often pay you weekly or monthly, you can get paid twice a week via PayPal with SpeechPad. This is good for people who need regular cash flow.
15. Upwork
- Payment Rates: To be agreed with clients
- Payout Schedule: To be agreed with clients; PayPal, Payoneer, Instant Pay, Wire Transfer, etc.
- Availability of Jobs: High
- Experience Required: No
Best for people who want to work directly with clients
Upwork is not a transcription company, rather, it is a job platform where you can bid for jobs posted by clients. There are a lot of transcription jobs available on Upwork but it will be up to you to find them and get hired. This setup can work for newbies and professional transcriptionists who want to set their own rates and deal directly with clients. However, it is not uncommon that someone will outbid you by offering a ridiculously low amount.Choosing the Best Transcription Job For You
Whether you’re a newbie or a transcription expert, there are numerous available jobs online that will allow you to work from home. You can choose which one suits you best depending on your lifestyle, experience, and availability
Aidan has been writing about personal finance for over 6 years. Prior to this, he worked as a Corporate Finance Analyst where he specialized in Due Diligence, Company Valuations and more. He is a CFA charterholder.
