How much you pay for transcription services can vary widely. The rate you receive depends on several factors, including audio quality and the time required to transcribe your file.
Transcription rates can be paid per audio minute, speaker, or hour of the typist’s time. There are also fixed standard rates for professional transcription and machine-powered transcription platforms.
Per audio minute
Many factors affect the rate for transcription. They include audio quality, turnaround time, type of work needed, and more.
For example, audio with background noise, distorted speech, and other problems can increase the price of transcription services. They can also cost more if the audio has multiple speakers or is very long.
Transcribing poor-quality audio can be difficult, requiring the transcriptionist to rewind the recording. It can increase the transcription rate.
Additional requests like timestamps, special formatting, and verbatim transcription can also add to the cost of transcription services.
Some transcriptionists offer hourly rates, which means they charge a flat fee no matter how much audio they transcribe in an hour. This structure is a good choice for projects that are not time-sensitive, but it’s only sometimes ideal because it can mean you end up paying a lot more if the transcript needs to be edited later.
The standard rate for professional transcriptionists (especially those from North America) ranges from $1.5 to $3 per audio minute or $90 to $180 per audio hour. Additional requirements can increase the cost of transcription services and change the price of individual transcribers or agencies.
Per speaker
The rate for transcription depends on the size of your audio file, the number of speakers, and the turnaround time you select. Typically, the rate is around $1.20 per audio minute if you have one to two speakers and a 24-48 hour turnaround, but it may be higher for files with more than one speaker or complex subject matter.
Generally, the rate for transcription is much lower if you work with a professional transcription service that employs experienced workers and pays them well. However, some transcription services hire overseas-based or inexperienced workers and advertise rates of $0.70-1 per audio minute — a high price to pay for mediocre transcripts.
Per hour
Transcriptionists make a decent wage, and you can find various jobs. For example, you can work for companies that hire transcriptionists or become freelancers and set your hours and types of projects.
To be a good transcriber, you need to have an excellent command of the English language and excellent time management skills. In addition, it would be best if you were patient and detail-oriented.
As a transcriptionist, you can work from home or anywhere else with high-speed internet access. You’ll need a computer or laptop with a good-working internet connection and the equipment required to transcribe audio files.
The rate you get for transcription depends on three factors: quality of the audio, whether it needs to be transcribed verbatim or non-verbatim, and turnaround time. In addition, specialized transcription services may cost more than general transcription projects.
Some transcription companies have fixed rates for certain types of projects, such as medical transcription or document typing. These rates are often lower than other options and are especially beneficial for new transcriptionists.
Per typed page
Transcription rates vary significantly from company to company, even within the same industry or field. Understanding what goes into these numbers can help you decide which service provider to use for your needs.
The rate you pay for transcription depends on several factors, including how long it takes to transcribe and the quality of the audio or document. You can find transcribers who charge a flat rate per page, or you can pay by line, hour, or word.
Often, transcribers who work at higher rates offer faster turnaround times. However, this is only sometimes the case, so you should ask about these rates before committing to a transcription service.
Some services include a rush fee, charging extra for a quicker turnaround than usual. These services may do this for various reasons, but generally, it compensates for the time and expertise needed to deliver your file promptly.
Per turnaround
The rate you pay for transcription varies depending on your file type, audio quality, turnaround time, and more. The most common pricing structure is per audial minute/hour or typed page, but you can also find other pricing structures.
Transcripts are essential for many industries, including marketing, human resources (HR), and internal communication. In addition, they can be used to repurpose video content into other documents and index it with search engines.
In addition, a transcript can be used to create training materials and refresher courses for employees. A quality transcript is crucial for making these documents from a podcast, interview, or seminar.
While transcription rates vary based on various factors, there are some things you can do to reduce your cost and get the best results possible. These include using a shorter recording format, avoiding distorted audio, and hiring an experienced and reputable transcriber.
