Speaker 1: Hey guys, welcome back to the channel. In this review video, I will reveal to you how to earn money as a transcriptionist on Daily Transcription. I'm going to teach you everything you need to know about this, how transcription jobs work and practice, which skills will be needed for this and also how much they pay here on Daily Transcription. So with that being said, drop a like and now let us get started right away. All right guys, that's the homepage of Daily Transcription. Now to not bore you, let us get straight to the point. So Daily Transcription is an online platform that offers various transcription services to clients online on the internet, like companies or brands that need an audio file to be transcribed, which means to be converted from audio into written text. Well, to be more precise here, they feature human generated transcriptions and also translations, which means these transcripts, for example, of audio files submitted by clients are done by human transcriptionists like you and me and not by the artificial intelligence guys. They use AI tools too, but only for proofreading and editing purposes. But the transcription job itself is completely done by human transcribers like you and me. And that's where you come in guys. As you can see, they're currently looking for human transcriptionists to join their team of freelancers to transcribe audio files for clients in niches and industries like entertainment, corporate, legal and academic. These institutions could also use AI-powered transcribers, you might argue. There are numerous of them online you can use for transcription tasks. Well the problem with machine-made AI transcripts is that they usually lack accuracy and transcribe with an accuracy of up to 90% at most, I have learned, whereas human transcripts can achieve even accuracy rates of up to 99%. So you see the difference here. So guys, even with AI technologies on the rise, there's still some decent earning potential for human transcribers, which leads us also to the job requirements. You see guys, the two most relevant factors are when it comes to transcription jobs, typing speed and typing accuracy, with the latter one being the most relevant factor here. And for obvious reasons, you will need to have some well-developed comprehension and understanding of English to pull this off. Listening skills are very important too. Apart from that, Daily Transcription is looking for transcribers who meet the following requirements 1. Have a typing speed of at least 50 words per minute. Now guys, if you type slower than 50WPM, don't worry, there is a simple and free method how you can work on your typing speed and accuracy, but we'll get to that just in a moment, so bear with me. As said earlier, you will need some strong listening and typing abilities, an eye for details pretty important, the ability to work independently, time management skills and also being proficient in using a transcription software. They don't disclose here which transcription software they recommend to use, but these software usually work the same way. Also guys, as a human transcriptionist, you work under pressure most of the time. Some clients may require from you to meet a short deadline, so be prepared to deliver transcripts with a short turnaround time. What about the payment rate you might be asking? Well, they claim transcribers may earn between $45 and $66 per hour of material, which means guys, $45 to $66 per transcribed audio or video hour or file of 1 hour length at least, and not per hour you work guys. Don't confuse these two, there are no transcription jobs that pay sums like that, $45 to $66 just per hour of work, so the payments are calculated based on the audio length you transcribe. On average, transcriptionists work between 10 and 30 hours a week, and guys consider that they require applicants to have a work experience of 1 to 2 years. You can see some of the key skills listed below, which includes English of course, typing speed, but also proofreading, fact-checking, and typing accuracy. Speaking of proofreading and fact-checking, if we scroll further down a bit, we will see that they are looking for freelancers also in other niches and job categories. For example, for AI editors, English-speaking AI editors to be more precise, who have not only excellent listening and typing skills, but who also have some expertise in editing AI-generated content guys, such as transcripts. We talked about these machine-made transcripts just a moment ago guys, as said earlier, these machine-made transcripts usually lack accuracy, normally they don't reach a higher accuracy rate of 90%, which means they need someone to proofread and edit these AI transcripts for clients, human proofreaders and human editors like you and me. Sometimes the client may also ask the proofreader to do some text formatting, as you can see these editor jobs pay also better than transcription jobs, namely between 60 and 90 dollars per hour of audio material, not per hour of work guys. The relevant skills are basically the same, while as a proofreader you definitely need some knowledge and understanding of grammar and punctuation. Remember, the more typos and errors you miss out and don't correct, made by the AI, the worse your quality at the end of the day and you only risk getting paid less by the client if you don't deliver quality work. So make sure you have an eye for details guys, that's probably the most relevant skill for proofreading and editing jobs. And lastly, they offer jobs also in other categories like medical transcription, subtitling and captioning if you'd like to create captions for videos for instance, that's pretty similar to transcribing to be honest. Transcription in Spanish, if you speak for example Spanish, broadcast transcriptions along with some other jobs. You can check out that list of available transcription jobs anytime guys. Before you submit your application though, as the freelance transcriptionist here, make sure you have worked on your typing skills first, because having some decent typing speed and most importantly typing accuracy is the most relevant skill for typing jobs or transcription jobs in general. So how can you work on your typing skills without paying for any expensive courses and coachings? Well guys, there are several websites on the internet like this one here, TypingTest for instance, that give you the opportunity to test and improve your typing skills without investing a single penny into anything. Just select your test length and test difficulty level, like easy, intermediate or hard, click on start, let me just switch to dark mode, that's much better for my eyes, and on the following page type the displayed text in as fast and as accurately as possible, without making any typos or only a little. Don't worry though if you make typos, because you can't fail this test to be honest, after finishing it you will be given your test result and also your WPM score, so that you can evaluate or assess if you type fast and accurately enough to work as a professional transcriptionist or not. If you need more practice, feel free to retake tests here on TypingTest as often as you like, with new example texts and maybe also with a different difficulty level. Also guys, bear in mind that only freelancers who are located in the US, the United Kingdom, Canada or New Zealand according to this information are currently allowed to submit their application here on Daily Transcription, which means in practice, if you're from outside these countries you will need to find other options and alternatives. You may of course try to get hired on freelance platforms out there, such as Fiverr or Upwork as a transcriber, although to be honest I personally believe getting hired on these two platforms, especially as a new arrival and in such a high competitive niche such as transcription or translation may turn out to be quite a challenge here due to the immense and fierce competition there. In general guys, the transcriptionist market is extremely oversaturated. No wonder, since transcription jobs are super beginner friendly and have one of the lowest entry barriers in the entire freelance economy I'd argue, so be prepared to face a lot of competition on the job market in this niche. Some transcription services have even stopped accepting new applications from transcribers, so unfortunately you will need to try to sign up on several of these platforms if you want to stand a chance here. You may for example add Scriby to your portfolio, they're still accepting new applications from transcriptionists, same as this one here, Speakwrite, transcription job positions open, there you go, now hiring remote transcriptionists with experience in legal general and Spanish transcriptions. Then we got Emberscript, become a transcriber, subtitler, translator or you apply as a proofreader alternately or as a content editor on platforms such as this one here, ProofreadingServices.com. You may do that too, as since we have learned that transcription and proofreading jobs share almost the same job requirements and needed skills, alright? So guys, that's it for today, I'd say we call it a day here, hope you enjoyed the video, got some real value from it and I'll see you next time on our channel.