Daily Transcription Reviews – Is There Real Money To Be Made?
In this Daily Transcription review we’ll take a look and see if it’s worth joining or not. There are a lot of these companies online these days, but is Daily Transcription any good, or should you just give it a miss?
Read on to discover the truth about Daily Transcription….
Company Name: Daily Transcription
Owner: Jason Reeves
Price To Join: Free
My Rating: 6.5/10
~ Daily Transcription Reviews ~
There are many different ways you can make some money online. It all depends on what your income goals are as to what you’ll spend your time on.
I kept hearing mentions of Daily Transcription, so I decided to look into it and see how it fares compared to other transcription services and ways of making some extra cash from home.
On my website I like to write reviews on make money opportunities and training platforms to see what’s hot and what’s not. This allows both myself and my readers to make informed decisions.
The good thing about you being here and reading my review is it means you do your homework before joining something, which is always a good idea. Because while there are worthwhile platforms out there, there are also ones that just waste your time and money, and others that are simply scams.
This website was created to help people find the good stuff while avoiding the scams.
Let’s see how Daily Transcription measures up.
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What Is Daily Transcription?
As I said above, it’s always a good idea to research things thoroughly before joining. Even if something is on the level, you still want to know whether it’s worth your time or not.
Transcription companies and opportunities for people to make some money as transcriptionists seems to be a quickly growing industry in the past few years or so. More and more of these companies are popping up, or gaining in prominence and exposure.
Daily Transcription has actually been around for a while now, having started up in 2005 by founder, Jason reeves.
The fact that it’s been around for that long speaks volumes about it being a legit service, which is what you want to know. Daily Transcription has been used by many Fortune 500 companies over those years, further adding weight to the legitimacy and quality of their services.
Some of these companies include Exxon Mobil, HBO, ABC and Red Bull, to name a few.
They also claim to offer their clients 98% accuracy with transcribing audio and so on, so they obviously have high standards for the transcriptionists they hire.
What Is a Transcriptionist?
Essentially you are given snippets of audio that need to be transcribed into written format. This requires a high degree of accuracy, even more so if you happen to be translating from one language into another.
You will listen to the audio and type what you hear, giving Daily Transcription, and their clients, a complete text file of the audio you transcribed.
That’s basically what a transcriptionist does. Nothing overly complex at all.
While this might be a way to make some small cash on the side, it’s hardly going to be a career move or life changing. If you are looking for a way to make some really good money on the internet, click here to learn how I make more than a fulltime living online and how you can too.
Applying To Daily Transcription As a Transcriptionist
The application process isn’t too complex either.
Your first task is to select which position you desire to be involved in, then fill out the necessary paperwork regarding that position.
There are actually a number of different “positions” you can apply for here, which include the following:
- General transcription
- Translation services and transcription
- Subtitling and captioning
- Post production transcription
- Legal transcription
- Academic & market research transcription
Once you’ve made your choice, you will upload a resume to the system, after which you will undergo a skills assessment, as well as perform a trial transcription job.
If they like what’s in your resume and you successfully complete the tests, you’ll be good to go.
There is no interview process, no Skype calls to sit in on or anything like that.
Okay, so now that we know what the job basically is and how to apply, what we really want to know now is whether there’s any decent money to be made with this platform or not?
Is it a viable way to make some extra cash from the comfort of home?
Let’s check out exactly how the Daily Transcription service works and what kind of cash is up for grabs.
How It Works
The good thing about these types of gigs is you can do them from home and work your own hours. You don’t need to travel anywhere, and you can do the work in your spare time. You can even do it at midnight if that’s your thing.
One of the common downsides to this type of part-time, bits and pieces online work is the rates of pay. Like paid surveys, transcription jobs generally pay a pretty low rate for the amount of time you spend doing the projects.
When there’s a job for you to do, you’ll receive an email notification. Of course, you are under no obligation to take on the task, but keep in mind that the more tasks you refuse, the less likely you’ll be given future tasks.
If you want to make a go of this, try and do as many jobs as you can manage.
When you receive a notification, simply log in to the platform, access the file to be transcribed, perform the transcription, then submit the finished task for approval and payment.
To help budding transcriptionists know what to do and learn the platform and its requirements, Daily Transcription has provided some very good video training to get you started. You are not left on your own guessing how to do it and what the procedures are.
There is also a really good support network available. So if you have any issues or need to know anything, just get in touch with Support and they’ll help you out.
What Are the Requirements?
Being proficient at speaking, reading and writing English would be the highest priority, as most of the work (even the translation stuff) is in English, or be translated into English.
Work as a general transcriptionist is only available to United States and Canada residents. However, when it comes to the bilingual work, they will consider applicants from other countries.
A decent typing speed is another skill that will greatly help you out and make the pay more worthwhile. The faster you can do the task, the more dollars you’ll make for your time.
If you’ve got previous transcription experience, then that’ll be in your favour. However, it’s not necessary to have any previous experience when applying for a position with Daily Transcription.
Accuracy is the biggest deal in this job, as the company wants to maintain its advertised 98% accuracy rate to keep their clients happy. For this reason, transcriptionists who cannot consistently offer work that meets these requirements will be let go.
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Obviously a desktop computer or laptop is required, along with a fast and reliable internet connection. You’ll be listening to streaming audio files, so you don’t want them pausing all the time to buffer.
Having a foot pedal to start and stop the audio file is also a handy addition, as it’ll keep both your hands free to type, saving you valuable time and mucking about.
How Much Will You Get Paid?
At the end of the day this is what we really want to know, isn’t it?
What kind of dollars are up for grabs and is it a worthwhile rate for the time you spend transcribing audio?
Your starting rate is between 75 cents to 85 cents for each audio minute transcribed. Now that’s not per minute of work. Transcribing a minute of audio could take several minutes or longer. That’s why it helps to have a keen ear, be a fast typist, be accurate, and have a foot pedal to keep your hands free.
Time is money here.
On their website Daily Transcription claim their top transcriptionists are making up to as high as $950 per week. How many hours might be put in to earn that, I don’t know, but it also wouldn’t be a figure that most people are making.
For starters, you likely wouldn’t get enough work to earn that kind of money, no matter how good you are or how fast. The more jobs you do and the better you are, you will get an increase in the pay rate per audio minute transcribed.
In reality you won’t make big bucks with this, but it could be okay for a little extra cash on the side.
By the way, payment occurs once a week and is issued by check.
This gig is really aimed at anyone who wants to make some part-time money from home in your own hours. It’s unlikely that you could make a career out of this, but you might be able to if you are fast and accurate enough, and join several different transcription companies.
What I Like
- The pay rate isn’t too bad compared to other similar platforms
- You get an increase in the rate if you prove yourself
- The company has been around since 2005
- There are a few different positions you can apply for
- You might make some handy part-time cash
What I Don’t Like and Red Flags
- The gig is only open to residents of the US and Canada (with the exception of some translation services)
- You won’t make much money for your valuable time
- It can be tiring, boring and tedious work
- Some audio files are soft or unclear, making them hard to transcribe. This vastly increases the amount of time it takes to do the task, as well as making it harder to be accurate
- You really do need to be a fast typist to make this worthwhile
How Much Does Daily Transcription Cost?
It doesn’t cost anything for you to join Daily Transcription as a transcriptionist. It’s totally free for the workers.
Is Daily Transcription a Scam Or Legit?
There is definitely no scam attached to this platform and opportunity at all. In fact, the company comes highly recommended for both transcriptionists and clients alike.
Like I said, it’s an okay way to make a bit of extra cash, but it does have its downsides, such as low pay and being a very tedious thing to do hour after hour.
Might be worth a look if you have some prior experience, or if you’re a very fast and accurate typist.
Just don’t expect to make a fulltime career out of this by joining just the one company.
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