Transcription is a well-paying career with many opportunities. A transcriptionist's salary is generally around $19.02, while an advanced transcriptionist earns around $25 to $30 per hour. With this rate, you can easily earn an average of $1141.2 every month if you work 2.5 hours per day for 24 days.
According to PayScale, the median transcriptionist's salary is $16.59 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.
How Much Money Can You Make as a Medical Transcriptionist?
According to BLS stats for May 2021, the mean hourly wage for a medical transcriptionist is $14.47, while their mean annual wage is $30,100.
How Much Money Does a Legal Transcriptionist Make?
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 $27,000 and $78,308 per year, with an average of about $42,108 as of 2022.
How Much Money Do Court Reporters and Simultaneous Captioners Make?
As per BLS reports of May 2021, court reporters and simultaneous captioners earn an average hourly rate of $29.03 and median annual pay of $60,380.
Variables That Will Decide a Transcriptionist's Salary
The exact amount of money you would earn working as a transcriptionist depends upon many variables. Those include:
- the company you are working for
- the exact volume of work that you are doing, as well as
- your speed and
- skill level.
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.
How to Improve Your Transcription Skills?
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 in 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.
Interested in making money fast and easy? There are some reputed transcription companies like Rev, GMR Transcription, Pioneer Transcription Services and more, which offer lucrative, home-based transcription jobs to experienced transcriptionists. Stay updated about such job offers by joining the TCI Job Board and subscribing to our newsletter today!
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.