Hi everyone, Misty here from Learnlegaltranscription.com and I want to talk about the two main billing types that you will see in transcription jobs and what that actually means to you, and how much you can earn! Okay so there are two main ways that you will see, the first is per audio minute. So if you go to rev.com and you want to order a transcription of something, you upload your audio and you’re going to get billed per minute that that audio is. If you upload a 10-minute audio and they are charging $1 per minute you would be charged a $10 for that 10 minute audio.
Okay seconds is per page billing, you will see this in actual legal transcripts, you usually don’t see it in the general transcription arena, but legal transcripts you will see per page. So let’s say you upload that same ten minute audio, you don’t know what you’re going to get charged until the transcript is actually done, and then you’re billed per page. So if they were still billing the same $1 per page just like they were doing $1.00 per audio min, if it produced five pages you would only be charged $5.
Okay now if you are just looking for online work from home jobs in general transcription, if they’re charging the client $1.00 per audio minute they’re not going to give that whole dollar to you. So you are going to get a portion of that, okay so let’s say they give you a $0.50 per audio minute, it’s usually gonna be a lot lower than that guys. I will have a video on that coming up, but let’s say it’s 50 cents. Okay now that just means per the minute of audio not how long it takes you to type it, so even if it takes you two hours to type because you are just beginning and you don’t really know what’s going on, or maybe the audio quality is really bad, whatever that is you’re still only going to get paid $5 for that audio.
A normal transcriber takes about four times as long as the audio to transcribe it, so if you are doing an hour-long audio it’s going to take you about four hours to transcribe it. So if you see a website and they are offering $10 an audio hour and it takes you four hours, that’s $2.50 an hour, it’s not the amount of time it takes you, it’s the amount of time of the audio.
So you need to have those numbers in your head. One minute or one hour of audio takes about four times that long to type it, so a minute of audio takes about four minutes, one hour of audio takes about four hour. So as you are researching your career in transcription, you need to keep those numbers in order. I’m going to be back with another video going over all of these websites that offer you general transcription, what they pay, and what it really comes out to so that you can make a decision on whether this is good for you, or if you want to look at some additional training in medical transcription or legal transcription or maybe something else all together. If you have any questions please let me know and make sure you subscribe!
