Today I want to tell you about this form of making money online which involves transcribing audio, and in simple words, translating audio into text.
Your clients will be both organizers and visitors of webinars who want to receive a text version of the video, or students who want to translate a lecture into text. At first, the work will be quite interesting, sometimes even useful, but on a second look – you will observe that the job is not saturated with too many fancy customers who are sometimes even too lazy to read the text.
At the initial stage, difficulties await you. If you are not used to sitting in front of a computer, typing and working without distraction for more than 30-40 minutes, you will have to slightly reconsider venturing into something like transcribing. But if you are diligent, know how to type, regardless of the keyboard, and want to find a side job – earning on transcription is for you.
Who May Benefit from Transcription Earnings?
Earnings on transcription can suit almost everyone. No special skills are needed for this. Just write down what your interlocutors say. Often clients will be students who feel paying to have their lecture audios converted to text format is easier than listening or writing it down by themselves.
It is important to understand two things: you need to quickly note and have good headphones. The first is necessary to keep up with the interlocutor’s speech, and the second is to remove unnecessary noise. Plus it will be nice to get special software that can slow down the audio recording, more or less clean it up and help you in every way.
Earnings on transcription will be relevant for at least a few more years until programmers can develop very sophisticated software that can fully recognize the record and translate it into text. You understand that even voice assistants like Google voice or Siri hardly distinguish some words. Therefore, you should not worry about the relevance of such earnings.
How Much Can You Earn on Transcription
Most often, transcription is paid per minute. For 1 minute of the text, the average price is 5 dollars. That is, for decoding the hourly record, you can get 50 dollars.
The amount of money to convert audio to text depends on your typing speed. Therefore, if you can quickly hit the keys, at least at a speed of 50% of speech, then with special software you can earn about 100 dollars in 2 hours of work. Plus, it will take some time to correct typos; it can also be done for about 10-15 minutes. In general, as a side job, it’s a pretty good option.
But you are unlikely to be able to pull that pace into your first 2 – 3 orders. Most often, it takes about 4 – 5 hours for an hour of text.
Do not think that this is a stable income. Transcription orders are parsed very quickly, so you will have to catch 1-2 orders per day. If you upgrade your profile, you will be able to pick up orders at a steady rate and then you can scale up your work to about 8 hours of work at 200 dollars per day. This is the average earnings of an ordinary freelancer who does not quite understand what he is doing.
6 Companies That Hire Beginner Transcriptionists
Here is a list of genuine platforms that regularly hire transcriptionists who are still new to the job. A lot of these companies will necessitate that you take some minor, little and simple transcription tests before accepting you into their platform. The platform uses these efficiency tests to review your typing accuracy and concentration to detail before assigning you any task.
1. Transcribe Anywhere
Transcribe Anywhere offers digital transcription courses that not only educate students on how to transcribe but also expose them to how to start their own freelance transcribing networks.
The online course also involves modules, practice dictations, and extensive quizzes. It even reveals to you how to create sample client contracts and how to determine the amount you’re to charge a client.
Before you can take on jobs on the TranscribeMe listing, you have to first of all register and then take its Transcriber Training Program test. The company will pay you $15 per audio hour which is still competitive enough, and it also does not involve any equipment for transcription before getting started beyond a “reasonable computer” that has Google Chrome and a reliable internet connection.
On the Rev transcription platform, You’ll need to submit a transcription template and also pass a grammar quiz before you can claim an assignment from Rev, this platform also allows transcribers to work as much time as possible or as little as you can.
This platform pays 36 to 65 cents per audio minute, which can accumulate to about $22 to $39 per audio hour.. The company pays every week through PayPal and doesn’t require any special tools apart from a stable computer and a reliable Internet connection.
This platform specializes in providing transcribed media files to those with little or no hearing abilities. Before you’re able to get jobs to do on the Crowdsurf platform, you’ll have to create an account with Amazon’s Mechanical Turk, a well-known crowdsourced work platform where Crowdsurf houses their transcription jobs.
Simple, without any troubles and unnecessary settings interface. This platform can work with many languages with a feature to edit the text in the recognition window including Voice Command Support. The quality of transcription, as practice shows, is higher than that of the next service.
The service has more features than the previous counterpart, with the ability to play media files in the service itself and the ability to insert timestamps – ideal for working with subtitles on Youtube. It also has a feature to synchronously translate recognized text into any language and editing text in the resulting window.
Making money on transcription is very possible as far as you know what you’re doing. The service is also expected to be in vogue for a very long time until there is sophisticated software built to do that with superb precision.
But to consider only transcription as the main work is not the best option. A good side job on which you can earn five hundred to one thousand a week with a constant flow of orders will certainly be your best bet.
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