Going Rate for transcription

[assistants made simple]

Can anyone provide some inside as to the going rate for this service and where a good source to find propects may be?

[Stacy]

I would like to hear more on this topic too. It seems it would be based on your skill level and typing speed. How much are you thinking about charging? From my research, I see VAs charging from $30-45/hr or by the minute (.39- $2.00)... just my view..

[bridiej]

Your best bet is to do some of your own research on the topic.

You need to think about:

The client base you'll be serving - e.g. businesses, market research, students
What service you'll offer - e.g. same day, next day, five days

Google some transcription companies in your niche and see what they charge, the work your rate out accordingly. And don't necessarily assume that cheaper is better!

[The Perfect Word]

For digital I offer a choice between per audio minute or by the hour. For cassette tapes I charge only by the hour. My per-audio-minute rate has a range and categories for the number of people and the quality of the audio. When I first started in business I only worked with clients locally so I set my rates with the local competition in mind. Search websites of other transcription businesses in the area you want to serve or take a sampling from different parts of the country if you will doing business that way. Skill level definitely is a factor as well.

I wish you the best!

[Ask Viki!]

This is what we offer:

* Level I = $.50/audio minute* - applies to clear audio, no more than two speakers, easy to understand.
* Level II = $.75/audio minute – applies to clear audio, more than two speakers, or speakers with thicker accents.
* Level III = $1.00/audio minute – applies to audio with severe quality problems, focus groups, or a lot of people trying to talk over one another.

I had a contractor in India until they changed their billing, they now charge by the line. Which is almost impossible to quote since I have no idea how to determine exactly how many lines the transcription will be. There are too many variables: letter vs. landscape view, margins, font and font size, etc.

My two biggest transcription clients are happy with the above rates as they can figure out for themselves what it will cost for us to transcribe for them.

Hope this helps and good luck!

[Zjudra Advanced]

This is a good question and one I have been very curious about. Thanks for the good tips. I really like the breakdown of minutes and quality.

[bridiej]

This is what we offer:

* Level I = $.50/audio minute* - applies to clear audio, no more than two speakers, easy to understand.
* Level II = $.75/audio minute – applies to clear audio, more than two speakers, or speakers with thicker accents.
* Level III = $1.00/audio minute – applies to audio with severe quality problems, focus groups, or a lot of people trying to talk over one another.

I had a contractor in India until they changed their billing, they now charge by the line. Which is almost impossible to quote since I have no idea how to determine exactly how many lines the transcription will be. There are too many variables: letter vs. landscape view, margins, font and font size, etc.

My two biggest transcription clients are happy with the above rates as they can figure out for themselves what it will cost for us to transcribe for them.

Hope this helps and good luck!

Wow, that's incredibly cheap..... are you still using Asian contractors as I can't imagine anyone in the Western world working for that kind of money - as I assume you're paying your contractors less to make some profit?

[eXPERT Business Support]

I agree with Bridie. I question the circumstances and the basis of such low rates.

[Pen & Letter VA]

Hello, I'm new to the forum but thought I'd add my two cents... I have done lots of transcription for clients, including live dictation. My fee has always been based on my hourly rate billed in 15 min increments. For me, I am a very accurate and fast typist so I've never had any complaints. If you struggle with speed or accuracy, you may want to adjust your rate to reflect?