How To Make Money From Transcription Jobs
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Do you want to work from home but you’re not sure where to start? If you have great listening and typing skills, then transcription jobs may be the best place to begin.
There is an increasing number of companies in the UK that are offering work from home transcription jobs, and it’s a great way to earn extra income without leaving your house. This post is going to be a step-by-step guide on what transcription is, and how you can get started.
What is transcription?
Transcription means listening to speech recordings and converting them into written words. This could be for court readings that need to be turned into text, an interview that needs to be written up as an article, or a TV show that needs subtitles.
Sometimes you need to type up the audio word for word, and other times it might just be the key points made in the audio.
What do transcription jobs involve?
To work for a transcription agency, you will be employed by them on a freelance basis, which means that you will need to sort out your own tax payments – so make sure you keep a detailed record of how much money you earn.
A lot of agencies will have a minimum number of hours that you must be available to work per week, however it varies from company to company.
You will most likely have to take some tests when you apply for a transcription job, such as tests of typing speed and accuracy, and the quality of your grammar and spelling.
What equipment do I need to get started?
If you want to work from home as a transcriber, you will need a good computer and a fast and reliable broadband connection.
Some companies require certain software on your computer such as Microsoft Office, or a good virus checker. Most will provide their own transcription software for you to install onto your computer.
You will also need a good pair of headphones (these Sony headphones are affordable and noise cancelling so you can work without distractions) and a foot pedal, so you can play, rewind and fast forward the audio easily by tapping different sections of the pedal with your foot.
It may throw some people off having to spend money before they have even started, although it is worth investing in the equipment in order to get the most out of transcription.
How much can I earn?
Rates of pay for transcription can vary between companies, and some companies will even increase your pay the more experience you have under your belt, or if you can produce a quick turnaround time for a piece of work.
Some transcription companies pay by the audio minute/hour, which is why it’s beneficial to have a good typing speed. Typically, you can earn around 40 pence – 80 pence per audio minute, which depending on your typing speed equates to about £6 – £16 per hour.
What skills do I need?
In order to become a transcriber, you will need to be accurate, and work quickly and efficiently. There will be lots of deadlines that you will be required to meet, so you will have to manage your time well, and it also requires you to be discreet about the information you receive, and keep it confidential.