audio transcriber rate of pay

[evedawn]

I am signing up with a company that deals with audio transcribing. I will be working freelance (as I already have another full time job but need the extra cash. The company I have signed up with have asked me to give them a rate of what fee I will charge, per minute of dication and also what fee I wil charge per 1000 words.

I have no idea...can anyone out there assist? I've looked online and the rates of pay vary so much.
Thanks as always to AB'ers...

[dothawkes31]

'If the company will be providing you with the business and you don't need to advertose yourself, then i would consider that not only would you have a ready made supply of work, you are also going to compete for that work with other transcribers they have taken on, so you need to be competitive price wise to ensure the work is offered you first. Do you have to bid for the work initially?

[evedawn]

You are right - I won't need to advertise and I know I ought to be competitive with my rates. Currently part of my normal, Monday to Thursday job involves some transcription typing and for that I get £7.00 / hr, (but I do go into the office to to do whilst this new freelancing would be from home).

Should I just charge my normal rate?

[buildersmate]

No, you should be able to charge more because at £7ph, the employer is paying employer's NI, holiday pay, sickness benefit, company pension (possibly), plus the overhead of the 'Office' in which you sit.
A good starting point would be £10 ph- an uplift of about 40% on the base you quoted. If they say that's too expensive then ask what they were expecting to pay. It's called negotiation.