Transcription has long been one of the most well-established work from home jobs.
And companies like Speechpad seem to have streamlined the process making it easier than ever to earn extra money online.
But is it a legit work at home company or scam?
Speechpad is an online company that hires remote transcriptionists, captioners, translators, and reviewers, who earn an average of $0.25-$1.00 per audio minute which gets paid out every Tuesday and Friday via PayPal. So it is legit, and according to reviews, they’re one of the best transcription companies to work for.
Read on to find out more about what Speechpad does, how it works, how much you can earn, and more!
What’s Speechpad About?
Speechpad is an online company that provides transcription and captioning services over a wide range of industries.
They have over 5,000 transcribers and over 5 million total minutes transcribed and captioned thus far.
They offer five main services:
- Standard Captioning (closed captions for spoken dialogue only)
- Premium Captioning (specialized captions that conveys all types of noise)
- Reviewers (quality assistance)
You can apply to be a transcriber, captioner, or translator, but reviewers are available by invitation only after you’ve proven yourself as a capable transcriber.
And if you prove yourself to be a strong transcriptionist, you’ll also be eligible to complete rush files (urgent files with quicker turnaround times).
One unique thing about Speechpad is their client base. Some of their corporate customers include:
When working with Speechpad, you get the freedom to make your own schedule.
There are also no minimum work requirements, so you can work as much or as little as you want.
However, once you accept a job, you have to make sure you can complete it, as they have strict turnaround times.
How Does Speechpad Work?
In order to be eligible to work for Speechpad, you have to meet the following requirements:
- Be fluent in English
- Have superb grammatical skills
- Type at least 40 words per minute
On top of that, you need a reliable internet connection, a computer, and headphones. You aren’t required to have a foot pedal, although it is recommended.
If you meet those requirements, then you can go online and apply on their website.
After filling out some basic information, you’ll be required to take two tests: a basic transcription test and a grammar test.
You’ll need to score above a 98 on the transcription test and above a 75 on the grammar test in order to be accepted to work for them.
If you pass those, the last thing you’ll need to do is sign a worker confidentiality agreement form.
After that, you’ll be able to start accepting work!
And if you want to become a captioner, you’ll need to take and pass a Web Video Captioning Qualification test.
What Is Speechpad’s Rating System?
Speechpad has a rating system that determines the number and caliber of jobs you’re eligible for.
Your rating is based on the number of mistakes that get corrected when the reviewer goes over your transcribed file.
The less mistakes there are, the higher your rating will be.
The higher the rating you have, there will be more jobs available for you (and they tend to pay more as well).
And if your rating drops below a 95, you’ll no longer be able to work for Speechpad.
Who’s Behind Speechpad?
Speechpad was founded in early 2008 and is headquartered in San Fransisco, California.
It was founded by current CEO Konstantin Othmer, who says that they’re committed to being the best in the business.
We are committed to serving a growing, satisfied, international customer base by consistently and reliably providing affordable, fast, accurate transcriptions and captions with world-class customer support.Konstantin Othmer (speechpad.com/about-us/message-from-ceo)
Other members of the leadrship team include Michael Ruf, Linda Khachooni, Brian Reeve and Jill Finch.
How Much Money Can You Make?
With Speechpad, you can earn an average of $0.25-$1.00 per audio minute.
It generally takes an experienced transcriber around three hours to complete one audio hour of transcription.
With those numbers in mind, you can expect to earn $5-$20 per hour.
With Speechpad, you can also receive bonuses if the customer rates your work highly.
Speechpad pays twice a week, every Tuesday and Friday, via PayPal.
Is Speechpad Worth It?
A lot of people are wondering how Speechpad compares to other transcription companies, and if it’s worth it to join them.
Based on their reviews, they seem to be one of the better transcription companies out there. There are lots of reviews about Speechpad on TrustPilot for example, and most of them are positive, which is typically rare for a work at home company.
After reading through many of these reviews, and reviews on other sites, it seems the overall consensus is that transcribers are getting paid on time and that there’s always enough work available.
And one thing that they have up on other companies is that they give their transcriptionists the option to pick what type of work they want to do.
This is a huge advantage, since competing companies like Rev.com don’t allow that, and it’s caused some problems for them.
But Speechpad does have some complaints. And the main complaint seemed to be their rating system.
Not only do transcriptionists claim that it’s confusing, but one reviewer actually said they disliked it because certain things (like commas, for instance) are at the discretion of the reviewer.
That means that even if a comma is correctly placed, if a reviewer disagrees and corrects it, it will negatively affect your score.
Other than that, though, most people seem happy with the company overall.
What I Like
- There aren’t many negative reviews
- They pay twice per week
- You can make a decent amount of money
What I Don’t Like
- Their rating system could be improved
- Most transcripts have a strict turnaround time
Overall, Speechpad is a legit transcription company that gives you the option to earn some extra income from home on your own time. You might not make enough to write home about (pun intended) but you could combine this with other similar work at home gigs like proofreading to boost your revenue.