$240 sounds like a decent payout for a single transcription job, right?
EXCEPT when they have 30 hours worth of audio — and only want to pay you $8 per audio hour.
Can we do the math here?
There are 60 minutes in an hour.
So if you divide $8 by 60 minutes, that would equal approximately 13.3333E¢ per audio minute.
Now – anyone who has been transcribing for a while knows that standard time it takes to type a proper transcription is anywhere between 4 and 6 times the length of audio. That being said – now you need to divide 13¢ by…let’s say 4.
That’s about 3.3333E¢ per minute.
Now multiply that by 60
(remember – there are 60 minutes in an hour)
What does that equal? A whopping $2
When’s the last time you made $2 an hour for skilled work?
Transcribing is not just the ability to type fast. It is active LISTENING and typing accurately.
Adding time stamps. Labeling speakers.
It is making sure that the format is correct for each client.
It is sometimes listening to the entire audio one more time to make sure you did the best you could with sometimes less-than-perfect audio.
Oftentimes there is an investment that we make to get the best transcription software and working foot pedal.
Just saying KNOW YOUR WORTH.
And if you’re trying to hire someone at that rate – remember – you’re probably getting exactly what you pay for.