Having come across transcribing as you were looking for the ways to make money online, and since you are not so familiar with it, you must have wanted to know What Is Transcribing?
With lots of curiosity and eagerness, you start to wonder if you could really make money from this newly found opportunity of yours.
I do understand your predicament and it is the reason I am going to explore and provide you with a better understanding of what transcription truly is.
I am going to show you both the good and ugly side of it.
After that, you can determine and see if it is a lucrative way for you to earn money online.
To make that decision easy for you, I am going to provide you a cheat sheet you may consider to earn lucrative income transcribing.
With that, you would be able to finally decide best for yourself, whether transcribing is indeed for you or not.
So stay with me and Let’s dive into it together.
What Is Transcribing? In Layman Words…
Transcribing in layman words is simply writing down recorded audio files. But, …
In action, it is not just as simple as it seems!
It has its own guidelines and formats to follow. It is not just something you listen to and just directly write out without any rules whatsoever.
This reminds me of when I first heard about transcribing as a way to make money online.
What do you think I did? Yeah, I jumped unto it without knowing what I was getting into.
And I found myself failing the examination presented to me even after taking my time to study all the tutorials on guidelines and formats presented to me.
Transcription Formats And Styles Explained In Brief…
From my understanding and experience, I believe the format and styles in transcription are there to enable whoever is reading the written words (the transcription) to best picture out the scenario of the speakers.
If there are two or more people speaking in an audio recording, when you write down there speeches, each person is represented with a new paragraph.
You also break long sentences of a speaker into paragraphs.
There are ways and styles to write when someone breaks in a discussion, or when there is silence i.e when the speakers are not talking.
Other things such as stuttering, stammering, laughter, background music, responses, when someone is giving feedback like yes, I agree, good, etc), and…
Even side conversations like when the main speaker is speaking with someone else in the background, all have their own styles to represent them.
Of course, all the above are things you could learn and get adapted to with appropriate training, studies, and practices. It ain’t a piece of cake, dear.
But, it could become easy with time!
Anyways, as this is not a transcribing course let me stop here with my brief explanation of the formats, and move unto another probable question of yours.
Can I Transcribe Without Any Prior Experience?
Absolutely, YES! You can. But, there is a fact you have to know.
Although it is so true that transcription can be done without any prior experience or skill, you may not succeed with it UNLESS you have done a lot of practices which requires many hours and a fast typing speed.
Fast typing speed and more practices are things you could build upon as you continue to transcribe.
But, before you can land any transcription gig, you must have familiarized yourself with its writing format and styles.
Often times, the job boards you apply to would require you write an exam to certify you and see if you could follow all their instructions in regard to format, etc.
That is the examination that would determine whether you would be accepted or not.
The most important skills required in transcribing are TIME EFFICIENCY which is often determined by your typing speed, and ACCURACY which is often determined by writing what is been said correctly.
Are Transcription Exams Easy?
Truth be told, Not so really.
Do not be disheartened though, there are people who passed the exams in their first trial.
But many do fail many attempts before they finally pass or let it go.
Passing a transcription exam is pretty challenging, to be honest. as they won’t really tell you how high you need to score.
You would have to score a perfect score in its skills and style test for you to pass.
Also, there is an English grammar test included to test your grammar skills.
I would recommend you take your time to study the guidelines, styles, and formats before you take any transcription examination.
Better, take a course that would guide you through everything you need to know about transcribing like this FREE transcribeanywhere General Transcription Mini-Course.
This would best prepare you for the examinations and would increase your rate of passing and getting accepted.
Do I Have To Be A Native English Speaker To Transcribe?
Of course, NOT!
You don’t have to be a native English speaker to work as a transcriber or transcriptionist.
You can transcribe audio recorded in your native language but you must pass that language examination before work would be assigned to you.
In fact, native English speakers often find transcribing to be a challenge.
Especially when you are given an audio file with speakers whose accent is far from what you are familiar with or who are not English speakers themselves.
Therefore, it is best you choose a language you are most comfortable with, be it English or any other one.
You must have this at the back of your mind that language is not really a barrier.
But a speaker’s tone or accent of speaking could make your work a lot harder than you could ever imagine.
Who Is Transcribing For?
Transcribing is for anyone who falls in these categories:
- You are able to pay attention to details and follow rules and guidelines strictly, and I mean STRICTLY.
- Someone who is willing to learn something new and become proficient at it no matter how long it would take.
- Patient enough to accept failures and persevere until you finally make it. This is referring to the examination.
- Honestly, It isn’t a child’s play! Not many people can deal with that.
- Excellent listening ability. Superb to the point that you could easily (maybe not easily) ear what someone is saying in the midst of a chaotic conversation.
- You are able and willing to do research on terms you are not so familiar with or can not interpret correctly.
- Your main intention is to do some good work by helping others who are hearing impaired and would not mind the less profit or capital transcribing generates no matter the hard work you put into it.
- Someone who is truly passionate about transcribing, and is willing to take a course (irrespective of its price) to be more specialized in the more lucrative side of transcribing, like the legal and medical transcription.
Do you meet the above criteria? Then, congratulations! You have just landed yourself another make money online opportunity.
How Much Can You Make From Transcribing?
I know this is what you want to know about the most, how much you can make from transcribing.
Unlike freelance writing and other make money online opportunities that pay according to the number of hours you work for, most transcribers get paid according to the length in time of the audio file.
So, the most common rate is $15 for a 1-hour audio file.
You have to get this straight. It does not mean it would take you an hour to transcribe an audio file that is 1-hour long.
In fact, transcribers go by the 1:4 rule.
Meaning, it would take you approximately 4 hours to transcribe 1 hour of an audio file.
That is about 4 minutes for 1 minute of an audio file if the audio quality is pretty good!
To be able to meet that standardized rule, you must be very experienced in the field, have an exceptional typing speed, and utilize some special transcribing tools like the foot pedals, etc.
As for beginners who are still finding their way around it, even those who are averagely skilled, would not be able to meet that rule.
It could take you an hour to transcribe a minute-long audio file, if not more with a bad quality recording.
And, more than 5 hours to a day to transcribe an hour audio file. Talking from experience here!
In a nutshell, it is almost impossible to make a full-time income transcribing.
Despite all that, if you are so interested in transcribing and really want to make it a career path due to its location and time flexibility, or whatever reason you may have, here is a cheat sheet for you.
A Cheat Sheet To Earn FullTime Income With Transcribing!
Before I continue, I want you to know that this won’t make you rich, instead, it would help you live comfortably.
And would earn you more money than what a general transcription would.
You would also have more work opportunity opened for you.
To earn a lucrative income with transcribing, you must have a specialized skill for either of these two below, these might also become a career path for you;
1. Medical Transcription:
A medical transcription is an act of writing down what is recorded by medical practitioners.
For example, a doctor during a medical session with a patient might decide to record his medical report for documentation purposes, etc.
Do not worry, you do not have to be present in the hospital to transcribe the reports.
In fact, one of the advantages of medical transcription is the ability to work from anywhere without been restricted by location.
Ideal for those who are interested in things that are medical-related or those of you that can deal with medical jargon, ah ah ah.
To be a medical transcriptionist, you must do your training from a highly reputable or accredited institution and it could cost you about $3000+.
This would take approximately 6 months to a year. And, up to two years if you are going for an associate degree program.
The training could be done online, or offline in a typical classroom.
But if you so desire location flexibility like myself, you should opt for the online course.
During the training, you will be able to learn a lot about medical terminologies, dos, and the don’ts involved in medical transcribing.
It is a highly lucrative job that could earn you on average about $2000+ per month. A good career choice that could make you a full-time income online.
2. Legal Transcription:
As a legal transcriber or transcriptionist, your duty is similar to that of a medical or general transcriber.
Just that what you will have to write out is legal professionals recordings. Meaning you will be dealing with legal terminologies.
I know what you are thinking by now, do not worry, you do not have to be present in all court hearings to transcribe them, that is the duty of a court reporter or stenotype.
The good thing about this is, legal transcriptionists are in high demand and the cost of the training or course which is about $679 is a lot more affordable unlike with medical transcriptionist.
Of course, your training should be with an accredited organization or institution as well.
As a legal transcriptionist, you can earn a full-time income ranging on average between $2000+ to $5000+ per month. Sounds cool right!
That is exactly why if you say transcribing does not pay much, those who have taken their time to go through the specialized course would say, “it is because you do not know your way around it.”
If you have decided you want to earn a full-time income as a legal transcriber,
You should consider going for this online accredited Legal Transcription: Theory & Practice Course to horn your skills and expertise in the field.
The course provides you with all the necessary guidance to be SUCCESSFUL as a legal transcriptionist.
For example, you are going to learn all the formats and styles required in the field,…
How you would be able to land good lucrative work on completion of your course, and many more I would like you to discover yourself.
Now that I have provided you my cheat sheet to make a lucrative income as you work from home with transcribing, let’s move on to the pros and cons of transcribing in general.
The “Pros” And “Cons” Of Transcribing!
- Location flexibility: You can work from anywhere you so wish.
- You learn a new skill
- You can make a full-time income with it as a specialized transcriptionist.
- Earn extra money to upkeep yourself.
- Time flexibility: You are in control of your work time without having to deal with the 9 – 5 job conformity.
- Transcriptionist especially the legal transcriptionist are presently in demand. Meaning you have more earning potential as one.
- Your time and effort hardly pay off unless you are a specialized transcriber.
- It is Active Income: You only get paid once for the exact time and work done.
- To be successful in it, you need to be well-trained for it, either for general transcription or the specialized ones like medical and legal transcription.
- The training cost is not so affordable for someone who is just starting out and wants to find financial freedom from online business opportunities.
- There is little to no guidance unless you go for a specialized course where all the necessary things to know would be provided and acquired.
- You must have an exceptional listening skill as the audio recordings are sometimes (if not most times) bad quality ones.
- Without a solid foundation with good training, it is difficult to pass the job boards entrance examinations.
Would I Recommend It Or Not? My Sincere Opinion!
With utmost sincerity, I would only recommend transcribing to you if you are willing and determined to make a full-time income with it.
That is, you feel you can afford to do a training, and you are prepared to take a course on either the general, legal or medical transcription course.
Otherwise, I am honestly not recommending it for you if you feel it is something you could just jump into without any solid foundation.
Even though you might be able to make a few dollars without having a special skill, transcribing might not help you to attain the financial independence you so desire.
You may go ahead and prove me wrong though, I would appreciate that just ensure you are patient enough to deal with the outcome.
Best Alternative To Make Money Online!
Do You Think Transcribing Is Not For You Even After Digesting The Cheat Sheet To Earn A Full-Time Income Online With Transcribing due to the following reasons;
- Do you want to earn money as you sleep or on a trip, and transcribing is far from that?
- Do you want to get paid again and again for a work done once, that is passive income. Of course, transcribing is far from this as well?
- Do you want to stop worrying work availability?
- Do you feel you cannot afford to do special training and would prefer something that is a lot more affordable and legitimate?
- Do you wish to build multiple income streams and not get restricted to only one source?
- Do you want ultimate financial independence from a legitimate way to make money online aside from transcribing?
If you have answered YES to all the above questions as your reasons, then;
To Round It Up,
Transcribing is indeed a legitimate way to make money online.
I know you might be put off because of its cons such as spending too much time on a particular assignment and not been compensated enough for it, etc., that could be solved as you become an expert at it.
Also, you could make it a flexible career choice or path as you take the special training or courses that allow you to do more lucrative work in their fields.
With this comes the end of my in-depth exploration of transcribing.
I hope you find this article helpful and were able to make a better decision for yourself with it.
Would you like to do transcribing as another make money online opportunity?
If YES, which of the courses would you go for to open room for more opportunity?
If NO, What is your main reason, and what would you consider doing in its place?
Do write down your answers in the comment section below. I would love to know what you think and better connect with you all.
Wishing you the very best in your quest to be financially independent.
Cheers to your awaiting success…
Tohin!Financial Freedom Made Easy