The entire setup involves earphones to listen to the dictation which is in the form of tapes, digital system or voice files. A word processing system is also used which is efficient and easy to use. Though the process can be done by anyone, it requires some prerequisites like computer knowledge, awareness of
The process is enhanced by using a proper
Transcriptionists are paid on an hourly basis. The year 2000 saw them being paid as much as $8-$12 per hour in the beginning of their career. But then after a few years of experience, it will rise to $12-$20 per hour. In general, there is a great demand for transcriptionists with an experience of minimum 1 year to a maximum of 5 years.
Self employed transcriptions offer many perks that are not available through companies or contractors. As an individual, a transcriptionist can start their career for $10-15 per hour which will increase up to $ 40 per hour based on their experience. Though this income is taxable, much can be exempted through equipment costs, home allowance (if the person works from home) and other facilities. Contractors pay around 15% as self employment tax while the companies pay 7.5% as FICA tax. One can always go for the best option with all the viabilities and provisions available.