Hi everyone, I've been doing some research into how to charge per audio minute. I used to be a legal secretary for a long time and of course I didnt charge my employer to transcribe tapes, it just came with my salary, so I have no idea how to really charge. I did some transcription work as a VA for a doctor in Canada and charged him my normally hourly rate. He didn't complain about the rate at all, paid it and said I did a really good job.

In my research of per audio minute rates, I found a range from .75 cents to $2.00 per minute. Using the formula below by another VA on the forum, I came up with a per minute rate of $2.33 if I take my hourly rate of $35 multiply by 4 (assuming it will take me 4 minutes for every audio minute) and then divided by 60 for 60 minutes. Comparing it to other rates I found online this seems a bit high so I lowered it to $2 per audio minute. My rates: http://romerocomm.com/transcription/

I was wondering if you ladies could take a look at of my rates which includes quality, time coding and rush jobs and let me know if you think I'm charging too much or too little? I wrote down whatever rates I could find for these additional fees and that's how I came up with the numbers. Thanks!

Originally Posted by anisemama

30 minutes of audio in one hour? Either someone types 200 words a minute, there are a whole lot of pauses, or someone's stretching the truth! I do a LOT of transcription. For a long time, it made up 90% of what I did for income. I'm a fast typist, averaging between 90 and 100 words a minute, though I've been tested at over 120 words a minute. With clear audio, good speakers, no one trying to overtalk someone else, I can do 3 to 1. But that's like the absolute perfect, dream audio, and those are rare. Usually, it's 3.5 or 4 to 1. And if the audio is bad? 5 or 6 to 1. Because of that, I charge by audio minute for all transcription work. I do offer a transcription retainer package, which is for clear audio, 2 hour chunks, at a 10% discount. The way I figured my rate was this: First, how much per hour of work do I want to make? Multiply that by 4. Average transcription is 4 hours work for 1 hour of audio. That gives my rate per hour of audio. But most transcription work that I do isn't that long, and people want it broken down even more. So divide that number by 60, and that is your BASE rate per audio minute. I say base, because if they have crappy audio that is going to be difficult to transcribe, you are going to want to charge more, because it's going to take you longer to do. I have three levels. The BASE rate applies to clear audio, no more than two speakers, easy to understand. Because I'm good with accents, as long as the person's accent isn't too thick, they get the base rate. Level two audio gets a .25 per audio minute surcharge. That's audio with more than two speakers, or speakers with thicker accents. Level three audio gets a .50 per audio minute surcharge. That's audio with severe quality problems, focus groups, or a lot of people trying to talk over one another. I hate doing them, so I charge more for them LOL It's all about how much time it takes you to do the work, and getting a fair hourly wage. I've seen transcriptionists charge .25 to .50 per audio minute, and wonder how they are surviving! That works out to 3.25 to 7.50 an hour! Minimum wage in my state is $7.40 an hour, and I think transcription deserves far more than that! It's a skill, and not everyone can do it. I've seen people who can type 100 words or more not be able to do it, because it's far more than just typing! Skilled work deserves more than scraping by wages.

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Paulette R.
Romero Communications

We don't really discuss rates here on VAF.

My suggestion is to look at other transcription sites and make your best rate based on your experience level and what it is you want to make, minus your expenses.

You may wish to connect with other transcriptionists privately willing to give you the information you are looking for. There may have been some previous discussion here about rates that you could search as well in the Search feature.

Good luck!

Janine

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I know we don't discuss rates on VAF, but did you read my post because I already mentioned in my post that I have already searched for average rates on VAF and online.

I'm trying to get a general sense of what a "per audio minute" rate would be based on my regular hourly rate.

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Paulette R.
Romero Communications

Hi Paulette, it's definitely not easy to set a rate. I'm new to the whole transcription thing and have also been looking around to see what others are charging. To be honest, every website and every business has a different set of rates, depending on how much they want to break it down for the client.

Some business go nuts with the nitty gritty, some are fairly simple. Some places only charge for clear audio and unclear audio and 1-2 speakers. Others charge for that plus more speakers plus slightly unclear audio and very unclear audio. Some charge for time-stamping, some don't. Some charge additionally for job setup and proof reading. I means how long is a piece of string.....lol.

Most seem to charge between $1.90 per audio minute as a base, up to $2.50. However, some start at $2.20 for basic audio and go up to $4.00 for medical audio because of its complexity. I looked at your site, and you seem to fit within the average. You could charge separately more for medical/complex work if you wanted.

I did read your post.

I believed "I was wondering if you ladies could take a look at of my rates which includes quality, time coding and rush jobs and let me know if you think I'm charging too much or too little? I wrote down whatever rates I could find for these additional fees and that's how I came up with the numbers. Thanks! " meant you were looking for rate information.

I still stand by my answer that you charge based on the same factors...what others charge, your level of experience, what you want to make minus your expenses and what the market will bear.

I am sorry that is not helpful.

Perhaps transcriptionists will jump in and give you an assessment.

I would also suggest looking at RFPs for transcriptionists and see what people might wish to pay and then elevate your rates based on what you bring to the table.

Janine

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Originally Posted by ErinK

Hi Paulette, it's definitely not easy to set a rate. I'm new to the whole transcription thing and have also been looking around to see what others are charging. To be honest, every website and every business has a different set of rates, depending on how much they want to break it down for the client. Some business go nuts with the nitty gritty, some are fairly simple. Some places only charge for clear audio and unclear audio and 1-2 speakers. Others charge for that plus more speakers plus slightly unclear audio and very unclear audio. Some charge for time-stamping, some don't. Some charge additionally for job setup and proof reading. I means how long is a piece of string.....lol. Most seem to charge between $1.90 per audio minute as a base, up to $2.50. However, some start at $2.20 for basic audio and go up to $4.00 for medical audio because of its complexity. I looked at your site, and you seem to fit within the average. You could charge separately more for medical/complex work if you wanted.

I think I'll leave the medical/legal transcription rate as is. I was thinking of possibly adding Spanish Transcription. In my researched I noticed some trasncriptionists offering Spanish Transcription so that might be a niche I can add since I do speak Spanish.

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Paulette R.
Romero Communications

I think offering Spanish as a niche is an excellent idea! I haven't seen too many transcription services offering that, so you should be able to get some decent business out of it

Originally Posted by ErinK

I think offering Spanish as a niche is an excellent idea! I haven't seen too many transcription services offering that, so you should be able to get some decent business out of it

Yeah except now I don't know how much to charge per audio minute for spanish transcription lol. I know that the couple I did see charged more per minute than for regular english transcription. Looks like I have more research ahead of me!

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Paulette R.
Romero Communications

One option is to could keep it the same price as your regular transcription, but just make a big deal of it in your advertising to attract business. Something along the lines of - "Now offering Spanish transcription at no additional charge!". If you're already completely fluent, there's really no extra effort involved.

Alternatively, you could put a small loading on the rate - you don't want to overprice yourself. Maybe an extra 20c per audio minute.

Hi Paulette,

I believe if you offer medical, legal, or Spanish, you should definitely be charging more for that. But how much more...unfortunately, I can't say. But those are specialty areas and need more skills than general transcription.

On the pricing page of my website I offer clients a choice between per audio minute or per transcription hour. I created the pricing structure so either way I get what I need per hour. (Most clients pick per transcription hour.)

It's really hard to figure out rates, I know.

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Pam Deyerle - Transcriptionist in Richmond, Virginia (Since September 1996 - 19 years)
The Perfect Word Transcription Service