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SpeakWrite Review: Get Paid $0.005 Per Word

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SpeakWrite is one of the many transcription services out there that hire freelancers to work from home.  It’s one I have mentioned a few times, and I felt it was now time to create an in-depth SpeakWrite employment review.

If you’re looking for a way to make money online, particularly in the transcription world, or maybe you want to know of other transcription services out there, let’s take a gander at SpeakWrite to see if it’s worth the hype.

As in all my reviews, I remain honest, I only speak the truth and I would never mislead you in any way.

In today’s post, let’s see if it’s legit, how much you can get paid as well as what other people are saying about it.

What is SpeakWrite?

SpeakWrite was founded in 1997 as an online transcription service.  It’s one of the most established companies in this space, servicing more than 65,000+ clients.  According to the company’s website, they boast a 99%+ accuracy rate, three-hour turnaround time if need be and low rates which start at $0.015 for the client.  Currently, the company offers both general and legal transcription services, mainly serving clients in the law enforcement, insurance and law industries.

From a client’s perspective, they have great reviews, but, what about the freelancers?



Qualifications

If you’re interested in getting hired with SpeakWrite, they do ask that you meet the following minimum requirements:

  • type at least 60+ WPM with 90%+ accuracy
  • legal resident of U.S. or Canada (no California residents)
  • fluent in English
  • proficient in Microsoft World
  • 1+ year experience in transcription
  • available at least 4+ hours a week

Aside from these qualifications, they also ask that you have the following equipment at a minimum to get started:

  • Windows Based PC w/ minimum 1GB RAM
  • Windows OS 7+
  • Microsoft Word 2007+
  • Microsoft Internet Explorer 8+
  • Adobe Acrobat Reader v8.0+
  • Windows Media Player v10+
  • Foot Pedal (the company will reimburse you up to $49+ if you’re hired)

If you meet the requirements mentioned above, then the company encourages you to apply.

Applying for the Job

To apply for the job, you will want to head to the official application page located here:  https://speakwrite.com/transcription-jobs/

Once on that site, you can browse through the requirements, as mentioned above, again if you choose to do so.  After you do, you can scroll down and you will want to look for the “click here to apply” button.  This button will take you directly to your application.

The application process is short and sweet at first as they want to know is your personal information, such as your email, name, address, etc.

Once they review your application, you will be asked to pass the typing test and then provide more information in regards to how available you are to work.  Remember, you will have to commit to at least four hours a week.

If hired, the company will conduct a background check and you can then start to work once that clears.

Working with SpeakWrite

Like most transcription jobs, SpeakWrite freelancers can work whenever they want, however, you will need to commit to at least four a week.  The company is operated 24/7, and typists can choose their shifts, but you cannot work any more than 12 hours in a day.

When working, you will be asked to log into your dashboard and then choose your schedule.  All assignments will be assigned through the software.  While you can return a job, it’s only done if you feel the subject matter or language is too offensive.  When the work is assigned, you must start working on it immediately as most jobs need to be completed in 2.0/2.2 of the job length.  Most clients who purchase work often want a fast turnaround time.

Once complete, upload it back into the dashboard and wait for approval.

How Much Does SpeakWrite Pay?

According to various third-party websites as well as the official site, the pay starts at about $0.005 per word, which equates to about $12+ per hour for the average transcriptionist.  Some bonuses are available as well, depending on which shift you work.  This pay, of course, will greatly depend on your accuracy and speed.  Your results will vary in comparison to other transcriptionists.

The company does note that the average transcriptionist on their platform earns about $450 a month, whereas the top transcriptionists earn close to $3,400 a month.

The company pays twice a month, either via check or direct deposit.

What Others Are Saying

On Glassdoor, the company had a 3.3/5 rating with 81%+ saying they would recommend it to a friend.  On these reviews, current freelancers loved that you could work from home and that the schedule was very flexible.  However, the cons seemed to rely upon the low pay and the unclear instructions that came from some clients.

Indeed users gave the company a 3.0/5 rating with more than 28 current transcriptionists leaving reviews.  Like Glassdoor, these reviewers complained about the pay, management and the job security.  It seemed like it was an “okay” opportunity.

In all of my skimming online, here’s what I found out…

The Pros

  • flexible scheduling
  • plenty of work if you pre-schedule
  • good support
  • technology seems to be up to date
  • legitimate business founded in 1997

The Cons

  • no benefits
  • no time off
  • you can select your jobs
  • poor pay
  • unclear client rules
  • not ideal if you’re a beginner
  • not available to residents outside the U.S. and Canada

Final Thoughts

SpeakWrite is 100% legit, but would I say it’s a fantastic opportunity?  No.  Would I say it’s one to avoid?  Not quite.  I would put it in the middle.  This seems to be the census when I read reviews online.  It’s just that — mediocre.

As long as you’re comfortable with a half cent per word, you can do the math and figure out how much you can make.  Since we all have varying typing speeds, you could make two times more (or less) than I could.  Only you have the answer.  I’m fairly certain you can earn $10~ per hour, however.

In the end, I would say if you can type pretty fast, say 90+ WPM, it seems like a company you may want to check out.  If you’re slower than this, then you may want to think otherwise.  I don’t like that they assign you jobs and that you have to commit to a certain number of hours, but that doesn’t mean I would avoid it 100%.  Signing up doesn’t take long, and if you don’t like the company/platform, you can always close down your account.

As always, if you want to comment on this company and/or ask questions, etc, you’re more than welcome to do so in the comments section below.

For now, let it be known that SpeakWrite isn’t the only cowboy in town as there are more than 100+ other options that work just like it.  Be sure to check out the list to see if any of these companies are of interest.

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Tom Nathaniel

Hi! My name is Tom Nathaniel, and I created LushDollar to help share my honest thoughts on everything money. It's the Internet's most honest money site after all. I have worked in the finance industry since 2006, consulting with multiple Fortune 5000 companies.

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