Speaker 1: It is completely possible to make 400 to 600 a week doing transcription side hustle. But you know what? There are so many scam transcription websites that pay you so little that you can't even pay a Netflix subscription. You clicked on this video for the best transcription site, so that's exactly what you're going to get. Because I've spent the last 48 hours extensively researching all the online transcription websites to see if they're truly worth it. I've picked these websites based on 3 requirements. 1. How is the overall review of the company? 2. How much do these companies really pay you? And lastly, are these sites actually hiring at the moment? This comprehensive list is great for both beginners and experienced transcriptionists. If all that sounds good to you, let's get it. First one on our list is GMR Transcription. For some odd reason, they don't tell you what you're going to get paid until you actually get hired, except that it says you'll earn between $1,000 to $3,000 per month depending on their skills and the kind of work they take. I don't know about you, but that's some wide range of fake numbers. But according to the people, you can expect to earn $0.75 to $1 per audio minute, which is $45 to $60 per audio hour. Don't get fooled here because this roughly translates to earning $11.25 to $15 an hour because the industry standard for transcribing an hour of audio is about 4 hours. And for the sake of this video, that's the metric we will use to roughly estimate the salary. The main benefit to GMR is that it's one of the easiest transcription jobs to get. You don't need any experience and they're actually one of the highest rated transcription companies to work for with a good work-life balance and management. But there is a probation period which you need at least 2 hours of audio before you're paid out. Also, there's a 4 hours of audio each month requirement to continue working. Applying is simple, just go to their career page and submit your resume. You'll be automatically emailed with the test and hopefully they'll get back to you within 2 weeks. Next up, we have Goal Transcript. On their site, they claim that you can earn up to $0.60 per audio hour and about $150 average earnings per month. Top earners make $1,215 per month. That's not bad. But $0.60 per audio minute is about $36 per audio hour and using our previous 4 hour metric, that's equivalent to about $9 per hour. It can be lower if you take longer as well. Now obviously, that's lower than the GMR transcription, but despite their low pay, some of the people who actually work for this company really like working for them. There are plenty of work to get assigned and the editors that review your transcription actually gives constructive feedback and positive reviews. Some of the benefits to Goal Transcript is that there are multiple languages for transcribing and they hire worldwide. That's pretty good. To get started, apply using the link in the description which I'll include all the websites mentioned in this video. The website has a great video on how you can apply and join. If you're looking for the highest paying transcription site, then that's going to be 3playmedia. This website pays the highest for most beginners and they will pay based on the project but it's equivalent to about $10 to $30 per hour. As far as the available jobs, it's reported that there are times that there's a lot of work available and it's all first come first serve basis. Besides the good pay, they have a pretty long training program to ensure the proficiency of the transcription work. They also offer both English and Spanish transcription jobs. Oh, and you also have to type 75 words per minute. The application process is quite simple as you fill in all your basic information and then you have to transcribe an audio test file and once they grade the test, they will get back to you. Okay, this company called Daily Transcription is perfect for you if you're not a fast typist. 50 words per minute to be exact, since that's the requirement. The company says that you can earn between $0.75 to $0.85 per audio minute which is $45 to $51 per audio hour. With their handy calculation, that's about $11.25 to $12.75 per hour. You don't need a lot of experience and they only accept people from US and Canada. Although they require 50 words per minute, the faster and more accurate you are, the higher you can earn. They also offer a bunch of practice jobs and training videos so you can get used to the work. A lot of the transcribers who work for this company left positive feedbacks including positive ones about the management and the support. You can apply using the link and you need to pass a skills assessment test and an actual transcription test. Last one on our list for beginners is Rev. They pay you up to $0.30 to $1.10 per audio minute. That's $18 to $66 per audio hour. This translates to about $4.50 to $16.50 per hour. Although the pay is not the highest, they used to be one of the leading transcription companies to work for. But a lot of the people have said that the pay is not stable and it fluctuates a lot so there's a lot of negative reviews. However, one pro to working for Rev is that you have an opportunity to move up from transcriptionist to a captioner and earn $8.10 to $16.50 an hour. To apply, take a quick typing test followed by a 10-minute grammar test to select the right answers and statements. Then lastly, finish off with a sample transcription. If you're worried about the test, don't worry because they're claimed to be pretty easy and you can also retake the test 45 days later if you don't pass. Let's now move on to some more serious transcription websites that require a bit more experience for a higher pay. The company Transcription Divas will pay $1.23 per audio minute with the highest rate at $3.03 per minute and the lowest at $0.71 per audio minute. That's roughly $10.65 per hour to a whopping $45.45 per hour on the high end. They also indicate that they are one of the highest paying transcription services in the US and they do not take advantage of anyone. Well that's good to hear. Basically, they come to you as a transcriptionist or a business owner with projects and you can either accept or decline the work. You can also negotiate the timeline and rates for the work. However, this has pros and cons. You're not set in stone what you can earn stably and so although it gives you more freedom, you have a bigger responsibility to provide the quality of work that matches your rate. Overall, the company has a very high standard so give this one a try with your application and they will contact you to set up a test and a phone interview. Another company we have is Ubiquis. The company pays for every word transcribed. The website is very professional but they don't have any information regarding the compensation and also they only accept people from the US and Canada. From doing some digging, they will possibly pay $14 per hour but realistically you can expect about half of that considering mistakes and typos along the way. Ubiquis specifically requires you to have some experience since it does say 1-5 years of relevant experience but realistically I would explain why you would be successful in this position if you don't have any experience. Next up, we have Pioneer Transcription Services. As sketchy as this website looks, it is a genuine transcription company that is currently looking for people to do video files and insert on-screen timestamps. However, they do prefer you to have a foot pedal. Foot pedal is this device that connects to your computer that you can assign different functions such as rewind, play, pause, and fast forward. It can cost you anywhere between $10-100 per pedal depending on its functionality. Pioneer pays at least $1 per audio minute for general transcribers and a per page rate for legal transcribers. Again, that's $15 per hour for general transcribing. Definitely give this one a shot if you have the right equipment and experience. Established in 2005 by Court Reporting Professionals, eScribers has grown to be the leader in reporting and transcription services for courts and government agencies in the US and UK. The pay rate seems competitive with the rate of $1 per audio minute, which again is $15 or more per hour. You do have to submit an invoice since you are working as a contractor. From the information on the application and the company, you are going to be working mostly on legal transcription, but you don't necessarily have to have legal transcription experience and they will still consider you. For the requirements to be considered, you do need a Windows PC and a Microsoft Word Office, also need a high speed and reliable internet connection, and a USB foot pedal. Oh, and you must be able to type 65 words per minute. Since this is a legal transcription service, hopefully your English skills are excellent. Okay, last but not least is Averbatch Transcription. They have a website with literally nothing but one thing, superior quality and simple pricing. Like, come on, they literally have no other information on their website. But from my research, they are actually one of the best paying transcription companies, paying $1 per audio minute for regular assignments and $1.50 per audio minute for the fast turnaround jobs. They claim that you can earn roughly $20 to $30 per work hour, and with the high pay comes high barriers with minimum 2 years of transcribing experience, and you need to pass a skills test, which is a 5 minute audio file that you need to complete within 25 minutes. But once you're in, you can choose when to work and also accept or decline any work. Sign up to get started today. One question I received from my viewers is, are online transcription jobs really worth it? At the end of the day, although this is a side hustle, it's also a career for many individuals. Zipcruder says the average in the US is $28 per hour or $58,876 per year. So, to answer that question, it depends. If you're willing to put in the work, it can be a great, flexible, and an easy job with pretty good money. Now, if you're a beginner and you read that online forum saying that these websites aren't worth the time and money, let's face it, you're a beginner. It's a great way to get experience up your sleeves and move up to a better paying company. My suggestion is to apply for all the beginner-friendly ones and pick 1-2 companies to work for. Then you'll get enough work to actually make a living, stick with it for a few weeks or months and gain the experience, then apply for better companies after that. Well, thanks for watching today's video. Please like and subscribe and check out my other videos to be more financially independent. Peace.