A community of 30,000 US Transcriptionist serving Medical Transcription Industry
Why is IC pay dropping so low? - puzzled
Posted: Sep 23, 2010
Traditionally, IC positions have always paid better than employee positions since the IC company doesn't have to bear the employer's cost of taxes, benefits, etc.
But, I've noticed lately that companies hiring ICs are offering extremely low pay, usually somewhere between 7 to 8 cpl. There's a company advertising on the board now for an IC at 7.5 cpl. I've applied with a few companies recently and with the companies who hire employees, I've been offered 9, 9.5 and 9.8 cpl.
So it just doesn't seem to make sense. As an employee, I can work for 9.5 cpl and the company pays the taxes plus benefits. But as an IC, I am responsible for paying all taxes plus all benefits, and then on top of that, I'd only be paid 7.5 cpl which is 2 cents LESS per line than at an employee position?
What happened and why are ICs being paid so much less than employees now?
Because they can. Because MTs will accept it. - nm
[ In Reply To ..]nm
Because of speech, all MT pay rates are dropping across the board. - Common Sense
[ In Reply To ..]Speech/Voice Recognition editing software is driving down MTs reimbursement whether you are an MT employee or IC. It's a change we are all seeing across the board in our industry.
But the point is ICs are being paid LESS than employees - makes no sense to be an IC
[ In Reply To ..]It makes no sense to take an IC position these days when you can take an employee position and come out much better financially, even with speech and voice recognition.
The question is: Do you want to make 7 cpl plus pay all your taxes and benefits. Or to you want to be paid 9 cpl and have the company pay for taxes and benefits.
Thatt has me puzzled also. Can any MTSO enlighten us? nm - Yochana
[ In Reply To ..]nm
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