Transcriptionist Jobs Salary Trends

The data entry industry is a broad one with some persons choosing to specialize in transcription whether medical transcription, legal transcription and more but what is then the transcriptionist jobs salary? Whether it is transcription jobs for beginners or experienced persons, there has been an increase with one record stating 24% more people work from home remotely as freelancers or for their company.

Why Settle for a Transcription Job?

Work from home transcriptionist jobs with or without experience provides ample opportunity for a significant section of society to fend for selves even as 35% of US workforce work remotely from home. Medical transcription at home job is one of the most desired positions in the medical transcription field next to medical billing and coding. And because it is a professional field just like the legal transcription the demand and pay are quite reasonable. Though there was a considerable decline in the salary of medical transcriptionists, it still commands large patronage and market.

Career Opportunities for a Transcriptionist, Transcribing Work from Home or In-House Employee

The transcription industry holds several opportunities for individuals to thrive within and earn reasonable sums. Transcribing work from home jobs come under different designation or title. Some transcription service hiring companies or corporation do hire transcriptionists to freelance remotely or in-house for legal transcription jobs and could give separate job title based on the functions and need of the organization.

Transcriptionists go by any of the following designation or title:

  •    Medical Transcriptionist
  •    Medical Assistant
  •    Senior Medical Transcriptionist
  •    Medical Secretary
  •    Lead Medical Transcriptionist
  •    Office Manager, Medical Office
  •    Radiology Transcriptionist
  •    Medical Scribe

medical transciption at home_ how to earn money

Factors That Can Influence the Salary Structure of a Transcriptionist

So many conditions help determine or affect the salary structure for a transcriptionist. For instance, a Speakwrite job, for example, focuses on legal, government, law enforcement, and corporate transcription and pay at the rate of .005c to .006c per word. So, with their requirements of 60 words per minute from legal transcriptionist, the hourly wage should come to $18 per hour of audio time.

So the factors that determine what transcriptionists earn are:

  1. Length of audio: sometimes the pay per minute system could be adopted in calculating the cost of a transcription job. But in some cases due to dead air or too many blank spaces without comments in audio, both parties could opt for per page or word typed. If there is much dead air or unused space in an audio, the client might be paying so much for nothing, so the per word system helps check that problem.
  2. Speakers: the more speakers in audio, the more tasking it is to determine who is speaking so more speakers means more stress. Therefore, the rate for a single speaker is usually cheaper than the prices for two or more speaker in an interview or focus group discussion.
  3. Deadline: if a transcription job is urgent, requiring faster turnaround time, transcription companies tend to charge more since it requires more speed and dedication. More persons might need to work on an immediate transcription job, increasing the rates.
  4. Quality of audio: poor recording can result in clarity issues or poor audio quality, and reduced audio quality means more time to detect the speakers. Poor clarity, therefore, results in higher charges.
  5. Speaker’s accent: a speaker with poor English accent means more difficulty in understanding the message or content. It also means more costs due to more time spent trying to decipher what is said.
  6. Nature of content: most transcription companies have a default typing style. If a client needs a verbatim transcription of audio the rates are less than when they need an intelligent verbatim transcription.
  7. Specialization: professions such as the legal and medical profession usually call for a higher rate when it comes to transcription because it is more technical. So the field or level of technicality of content can influence the transcription price. Also, emergency operation room nurses who are transcriptionist earn more than other nurses due to the demanding nature of work.
  8. Editing & proofing needs: the amount of time in hours it takes to proofread after transcription can mean higher or lower rates. When an audio quality is poor it will increase the time allocated to editing and proofing also resulting in higher transcription rates too.
  9. Educational qualification: medical and legal transcription requires persons with a background in the field due to the technicality. Furthermore, higher educational qualification could mean more pay. For instance, an NP in nursing will earn more than an LPN or RN if working with a medical facility, not as a work from home medical transcriptionist.
  10. Years of experience: the number of years one has been in the transcription business can influence the rates. For general transcription jobs for beginners, some hiring companies pay less for transcriptionists with fewer years of experience than those with more.
  11. Hiring company: the group to hire can determine the rate they are willing to pay a full or part-time employee.
  12. Unionism: those who belong to one transcriptionist union sometimes enjoy higher pay and extra pay for overtime work.
  13. Shifting system: some medical facilities tend to pay more if you work night shift than if you work daytime shift. Also, those who work afternoon shift sometimes get higher pay than those who work morning shifts.
  14. Location: as a result of the cost of livelihood in some metropolitan cities unlike smaller cities, the rates could differ. Those in the bigger cities tend to enjoy higher paying jobs but ironically pay more for living facilities too.

top transcriptionist jobs salary

Average Salary of a Transcriptionist by Industry

From one analysis the average salary per audio hour of a transcriptionist across the industry could be put at $15.22. See average for all these industries:

  •    Legal field – $39,000
  •    Education services – $55,500
  •    Finance & Insurance – $62,000
  •    Insurance – $45,000
  •    Healthcare – $64,000
  •    Admin & Support – $51,000
  •    Science & Technical – $64,000
  •    ICT – $55,000
  •    Public Admin – $54,500
  •    General – $53,500

Please note that most entry level transcription jobs home and even for expert transcriptionist depends solely on the freelancer’s input. So you can only earn as much as you work, no free meals!

3 Sample Job Description and Estimated Salaries

Legal Transcriptionist

Company Location: Collabera, Denver, CO80203 USA

Employment Type: Full-Time

Title: Legal/Law Enforcement Transcriptionist

Duration: 6mo C2H

Requirements:

  •    2-3 years legal transcription experience
  •    Strong MS Office skills
  •    Know how to use Express Scribe
  •    Experience with using Foot Petal
  •    Should be able to transcribe 2.5-3 hours audio in a day

Educational Qualification:

  •    HS Diploma or GED
  •    Bachelor’s degree/ JUCO

Nature of work: The staff will deal with transcribing audio from clients on law enforcement, courtrooms, suspect interviews, etc.

Medical transcriptionist job description and salary

Company Location: Adecco Redding, CA, USA

Employment Type: Part-Time

Title: Medical Transcriptionist

Purpose: MT to provide accurate and prompt medical records daily

Requirements:

  •    Excellent typing and audio listening skills
  •    Must be able to type audio from 4 different doctors
  •    Must understand medical terminology
  •    Must type a minimum of 40wpm
  •    Good knowledge of computer
  •    Knowledge of Medical transcription

Working Hours: 9 – 6 p.m

Working Days: Monday – Friday

Pay: $14-$15 per hour

Nature of work: MT is responsible for transcribing, editing and documenting all medical records. Records include letters, memos, charts, procedures and other medical reports.

Work from Home Transcriptionist

Company Address: Burlington, VT, 05401 USA

Employment type: Remote

Topics: Verbatim General Transcription jobs

Requirement:

  •    Must have a PC
  •    Must be good with MS word
  •    Should have an up to date anti-virus
  •    Excellent command of English

Nature of work:

  •    The candidate must be able to transcribe conference calls, verbatim reports, etc.
  •    Transcription of focus group discussion and interviews.
  •    Proofread and edit content afterward.

Now, there are a reasonable number of high paying freelancing jobs as best transcriptionist jobs from home. With the rising number of persons taking to working remotely and employers taking advantage of lower costs due to outsourcing more individuals are likely to join the transcription industry full-time or part-time, what are you waiting for, act fast now!

Please, take time out to explore our site for more transcriptionist jobs salary, how and where to find higher paying jobs.

Learn more about earning opportunities & the transcriptionist jobs salary industry!

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