A transcriber is another great side hustle since it uses a skill that most people reading this already have – typing!
If you are able to listen and type simultaneously then you can make a good side income with this gig.
There are many sites that need good people to describe all sort of media such as:
- Video Captions
- Podcast Transcriptions
- Sales Letter Scripts
- People’s Audio Notes
- And much more!
The good news is that there is always new media the needs transcription so you won’t run out of work. Plus, many places will let you start transcribing even if you are a newbie!
There are many advantages to being a transcriber. First, it’s ok to start with no experience. Second, your task can be as simple as transcribing captions on videos. Furthermore, transcription is easy to fit around other work because you set your own schedule. You also have the freedom to work from anywhere that has a good Internet connection.
As you gain more experience and obtain regular clients, you can expect higher pay. Transcription is also a scalable business model—when you have more clients than you can handle, you can outsource your works to other transcribers that you have trained yourself!
There are however some disadvantages as a transcriber. As with any new career, the entry-level jobs are not well paid and it will take some time to build up your reputation. To make good money you need to be both a quick and accurate typist too. The work can be tedious so you need strong self-discipline to get the work done on time.
From time to time, you should check out general job sites that aren’t just about transcription because they may have other good-paying jobs related to this side hustle. You also definitely need to work someplace nice and quiet in order to concentrate. Transcription should be treated as a proper job even if it is only a part-time job or side gig for you because your clients will appreciate your punctuality and refer other work to you.
Note: If you want to be a good transcriptionist, you should have a typing speed of at least 60-80 words per minute that is also accurate.
Additionally, if you are fluent in another language, you can combine transcription and translation jobs too!
The earning potential for this gig depends on how fast and accurate you can type. Most places will pay you based on an audio-per-minute rate so that the faster you finish the task, the more you get paid.
A transcription job is offering $0.40 per audio minute so on average this is around 100 words. If you can type 60-80 words a minute this will mean you are earning about $15-20/hour. However, if you start off slower this amount will be less.
On average newbies will earn anything from $3.00 to $9.00 an hour and experienced transcriptionists earn an average of $20.00 an hour.
According to Payscale, the most experienced transcription professional can earn up to $30.00 an hour.
Recommended Transcription Sites
Transcription may not be for everyone. Slow and inaccurate typers will find it hard to make good money but it’s definitely worth trying out. It’s one of the most in-demand freelance gigs out there so you be able to find lots of work. The largest advantage of this side hustle is that you get to choose what transcription jobs you want and how much you work and when you work too! Plus, you don’t need anything special to get the job done—just a good headphone, keyboard, and decent Internet connection!