As a transcriber, you might be thinking about branching out on your own, setting your rates, and managing direct contracts with schools or other institutions. While this route can offer more control over your work and earnings, it’s important to understand the role that agencies play in the transcription industry—and why they charge the rates they do.

The Value Agencies Provide

Agencies often take a significant “cut” of the rates charged to schools or other clients, and it’s easy to see why that might seem frustrating from a transcriber’s perspective. However, it’s crucial to recognize the extensive services and support that agencies provide, which can alleviate many of the burdens that come with managing your own contracts:

• Consistent Workflow: Agencies typically have contracts with multiple clients, offering transcribers a more steady stream of work than you might find independently.
• Administrative Support: From invoicing and client communication to conflict resolution and technical troubleshooting, agencies handle the administrative tasks that can be time-consuming and complex.
• Diverse Opportunities: Agencies can connect you with a variety of assignments, helping you expand your skills and experience across different areas.
• Schedule Flexibility: As an independent contractor with an agency, you maintain control over your schedule, allowing you to choose assignments that align with your availability.
• Insurance and Legal Coverage: Agencies often cover necessary client insurance requirements, such as General Liability and Errors and Omissions insurance, saving you from the cost and hassle of managing these on your own.

Why Transcriber Pay Matters

While agencies provide valuable support, it’s also important to advocate for fair compensation for transcribers. The cost of living has increased significantly over the years, and transcriber rates should reflect that reality. We understand that many transcribers feel that their pay hasn’t kept pace with inflation, and we agree that this is a concern that needs to be addressed.

Challenges with School Funding

One of the biggest challenges in increasing transcriber pay is the funding structure of the schools and institutions that hire agencies. While we don’t have definitive answers as to why schools are resistant to raising their rates, it’s clear that many are operating within tight budget constraints. This impacts the rates they can offer for transcription services, and by extension, the rates agencies can pay their transcribers.

Balancing Independence with Support

If you’re considering striking out on your own, it’s important to weigh the pros and cons carefully. Managing your own contracts can be rewarding, but it also comes with additional responsibilities and risks. Working with an agency might mean a lower hourly rate, but it also provides a level of support and consistency that can be invaluable, especially in an unpredictable economy.

Ultimately, the decision to work independently or through an agency depends on your individual goals and circumstances. We encourage transcribers to consider all aspects of their work—financial, administrative, and personal—before making the choice that’s right for them.

Transcribers:  If you have questions or need further clarification on transcriber compensation or working independently (as a direct vendor versus through an agency), please don’t hesitate to reach out to us. We’re here to support you in making informed decisions about your career.