Transcription is a well-paying career with many opportunities. A transcriptionist's salary is generally around $15, while an advanced transcriptionist earns around $25 to $30 per hour. With this rate, you can easily earn $1,500 every month if you work 2.5 hours per day for 24 days.
According to PayScale, the median transcriptionists' salary is $15.22 per hour. Additionally, you enjoy the freedom of setting your own hours and have sufficient leverage for working as little or as much as you want on a weekly basis. According to the BLS stats declared in 2017, the median annual transcriptionists' salary was $35,250 per year, or about $16.95 per hour.
According to BLS stats for May, 2017, the mean hourly wage for a medical transcriptionist is $17.50, while their mean annual wage is $36,400 annually.
Although the Bureau of Labor Statistics (BLS) does not maintain a record of the salaries for legal transcriptionists specifically, but a majority of them earn between $20,000 and $60,000 per year with an average of about $26,400 as of 2018.
The exact amount of money you would earn working as a general transcriptionist depends upon many variables. Those include:
That's why a company recruiting only experienced transcriptionists would pay more than a company hiring new ones. It's therefore advisable that you take up a lesser paying job as a beginner in transcription because it will give you valuable experience, which will help you in getting transcription jobs that are better paying later on.
Transcription is not different from any other job in terms of defining what it takes to be successful. An outstanding transcriptionist stands out from an average one due to their superior typing and listening skills and of course, the experience gained through practice.
The best way to improve your transcription skills is to enroll for a course in transcription. The course will help you improve your grammar, accuracy, and listening skills. You will not only get acquainted with the essential skills of becoming a great transcriptionist, but also learn the industry's best practices, which will help you start your own transcription business one day.
TCI, or the Transcription Certification Institute, offers an online transcription training course that is exactly tailored to the needs of those who want to get a head-start over others in the race for a lucrative transcription job. The course will equip you with all the skill sets and knowledge required to become truly professional in the field.