Academic Transcriptions: What Decides Its Pricing?

Nowadays, transcriptions are a valuable asset in the academic field. In fact, with the growing frequency of transcription usage in the education sector, Grand View Research has stated the industry’s market size in the U.S. alone was $25.98 billion in 2022. With transcriptions, students gain a reference to review their previous lessons while researchers can easily gather valuable data for their studies. As such, academic transcription services are valued now more than ever. 

However, students and researchers have to pay for such services, and there’s no doubt that they sometimes wonder why they’re paying the advertised rates when availing the aid of transcription services. Here are the various factors that determine the academic transcription rates of transcription services.

Number of Speakers and Accents

One of the factors that decide the rates of academic transcription is the number of speakers in the audio recording. Audio recordings with multiple speakers, such as focus group discussions, require more time and effort to transcribe. As such, their transcriptions tend to cost more compared to recordings with only one speaker.

Another factor that determines the rate of the transcription service is the accent. Remember, audio recordings where the speaker’s accent is thick can make it difficult to understand. This means that the transcriber will have to pay closer attention to the audio, taking more time in the process. Because of this, students and researchers can expect the service’s academic transcription rates to be higher than usual.

Deadline

Deadlines, or turnaround times, are another factor that decides the rates of a transcription service. If the transcriber is given enough time to work on the project, the rate will likely be lower. However, if a rush transcription is needed, then multiple transcribers may be required to convert the audio to text. As a result, the transcription rate will be higher than usual. 

With that in mind, it’s highly recommended that students and researchers plan ahead for any possible transcription projects they may need. That way, they can decide when their required delivery time will be to keep costs as low as possible.

Audio Length and Quality

The rates of academic transcription services vary depending on the length of your audio. This is because transcription services charge by the minute. As such, the longer your audio is, the higher the charges will be.

Additionally, audio quality can also affect the rates of your transcription project. If the quality of the audio recording you need to be transcribed is poor, it can be difficult for transcriptionists to convert it to text. This, in turn, would require more time to transcribe, driving the rates up in the process.

To avoid poor quality in your audio files, consider applying the following steps:

• Go to a quiet place to record
• Invest in quality audio recording equipment
• Aim for voice clarity
• Avoid background noises

By following the methods mentioned above, you can improve your audio quality and keep costs down when you have them transcribed.

Required Editing

Surprisingly enough, editing a transcript also plays a factor in determining academic transcription rates. This is because additional tasks such as proofreading complex terms and formatting may be required when editing. Since editing consumes more of the transcriber’s effort and time, the transcription rates may vary compared to simpler projects.

Timestamping

As its name implies, timestamping is the process of adding the exact time words in the audio were spoken to your transcription. Timestamps, or timecodes, are excellent additions to transcriptions as they make for valuable references. This is especially true if the audio recording has poor sound quality, which makes it difficult to understand.

Timestamps can affect the rates of your transcription project because they are not a necessary inclusion in transcriptions. For most academic transcription services, timestamping is a mere add-on that requires an additional fee. Because of this, timestamps can easily affect the overall pricing of your project.

Subject

Finally, the subject of the discussion in the audio recording can be a deciding factor that affects the project rate. When transcribing audio that focuses on industries such as medical and legal, a deeper understanding of the subject is sometimes required. That way, any mistakes and misinformation in the transcription can be avoided. This, in turn, allows students and researchers to have accurate transcripts for their projects.

To that end, transcribers will need more time for research on the topic. By doing so, they can have a specific understanding of the subject. This, in turn, affects the rates of your transcription project.

If you’re in need of high-quality transcripts for your studies or research, turning to education transcription services is the best step to take. That way, you can focus on other aspects of your studies or research. And if you need academic transcriptions, TranscriptionWing is the best service to turn to.

TranscriptionWing has over 20 years of experience in the transcription industry. We serve various sectors, such as biotechnology, market research, finance, legal, and, of course, academia. We offer flexible academic transcription rates and a variety of turnaround times, making us the best choice no matter the budget or deadline. Get started today and allow us to handle your transcription needs.