How Are Transcription Services Priced? [Infographic]

There are several factors that determine transcription rates for major transcription service providers. These are highly flexible and depend upon a number of factors including transcription types, quality of audio files, jargons present in the recordings, the turnaround time for delivery, request for special formatting and even bulk orders. So if you are searching for transcription rates online, and wish to get the best quality Transcription services at highly competitive rates then understand this process better with the shared infographic.

We believe in transparency and have straightforward pricing method for our customers.

We have seen that a lot of people are searching for transcription rates online to understand the process but there is no clear-cut answer to this online.

1. General/Audio Transcription

General/Audio Transcription caters to people of varied fields – from students to businessmen. The charge for general or audio transcription usually lies between $1.25 to $4.50 per recorded minute by US-based transcribers. The parameters for pricing depend mainly on the clarity of audio files. The price range escalates for difficult audios. Turnaround time ranges from Same Day Service and Next Day Service to Discount (3-4 Weeks).

2. Video Transcription

It transcribes videos directly from streaming sources like YouTube as well as videos uploaded to the secured server.Normally, video transcription services rates range from $1.75 to $5.00 per recorded minute.The parameters for pricing depend mainly on the clarity of videos. The price range escalates for difficult videos. The turnaround time ranges from Same Day Service and Next Day Service to Discount (3-4 Weeks).

3. Text to Text Transcription

Text to text transcription is used to convert paper documents in electronic format, or to reformat a paper document and printing it.

• Generally, text to text transcription rates ranges from $6.00 to $15.00 per page.
• A page consists of 350 words or less.
• The turnaround time ranges from Same Day Service, and Next Day Service, to Discount (14 Days).

4. Spanish to Spanish Transcription

Spanish recordings are transcribed by US-based transcribers who understand the difference between US Spanish and Spanish spoken in other countries.

• Spanish to Spanish Transcription rate ranges from $1.75 to $4.50.
• The parameters for pricing depend mainly on the clarity of audio. The price range escalates for difficult audio.
• On an average, the turnaround time ranges from Next Day Service to 2 Weeks.

Other Things To Consider

Audio Quality

Quality of audio is very crucial for transcription pricing, as transcription prices may vary when transcribers need to deal with difficult audio files. These include:

• Audio files that have been poorly recorded, or those with interruptions and background noise.
• People speaking very fast or over one another. As well as a low-speaking voice that cannot be heard.
• Audios with thick accents, or those having medical or scientific jargons that require research.

Turnaround Time

The turnaround time for delivery also determines transcription pricing.

If the clients need the project to be completed next day then rates are higher in comparison to those who give a deadline of 3 to 4 weeks.

Duration of Audio

It is widely known and accepted that the longer your recording length is, the more expensive your transcription will be, as the exact cost of your transcription project is directly related to the per minute rate prescribed by the transcription company.

Bulk Orders

Many transcription companies offer discounts for bulk volumes, so giving bulk orders can actually help you save on a lot of money.

Red Flags

• Beware of those transcription companies that do not offer transparency in their pricing.
• Many companies do not provide the exact price of transcription before starting the project.
• Some companies might charge you more than they have quoted after adding all the extra services.
• Also, be careful of those companies that offer a huge discount on their websites but don't mention the exact terms of services.

Tips to Consider When Selecting a Transcription Company

It’s important to do proper research and in-depth analysis before selecting a transcription company. Keep these things in mind before hiring a transcription company.

• Use reliable and reputable sources to find about transcription companies.
• Ask for recommendations from people who have experience in the field.
• Make sure that the facts and information you are getting is 100% accurate.
• Hire a local transcription company to build stronger business relationships.
• Choose a transcription company that provides accurate and quality transcripts on time.
• Select a company that ensures data security and confidentiality at all times.
• Try to find out about their past and present clients to check their industry experience.
• You can ask for examples of their previous projects to judge their level of expertise.
• You should know the exact price of transcription before you send your transcription project to any transcription company.

Closing Thoughts

Pricing is a critical factor that should be considered while selecting a transcription company, as it may vary for each service provider. You should do extensive research and take into account all the important aspects of transcription companies as a whole. Always, go for a transcription company that offers flexible and transparent pricing structure.

Get high-quality transcription services at affordable rates with quick turnaround time. Contact us today!

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Read Also: 4 Criteria For Choosing Right Transcription Services Providers in New York