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what are the pros/cons of being paid by the hour - pamt
Posted: Jan 01, 2011
I am a newer mt and was just wondering what are the pros and cons of being paid by the hour versus by the line?
TIA
I would think that one of the pros would be (sm) - anon
[ In Reply To ..]just not having to worry about making a line count every day. However, if this is the job that is paying $11.00 per hour as an independent contractor, I think that the con would be that by the time you pay your own taxes it would be the equivalent to $9.00 an hour or less, in my opinion.
IF you're paid by the hour, I'd bet there's a minimum line count to make. - SM
[ In Reply To ..]I sure wouldn't pay an IC a wage of $11/hr to only have them do 100 LPH, unless it was the worst dictator on the account.
I used to make $23.50/hour, and our minimum was - 110 transcribed minutes per day. n/m
[ In Reply To ..]
major pro - mtxo
[ In Reply To ..]is that no matter how slow you are, you're paid the same amount of money.
Major con is no matter how fast you are, you're only paid per hour.
Hourly MTs in my area make from $13 to $18/hr. I transcribe about 300 lph, earning about $27/hr, sometimes I transcribe faster.
For a new MT I think per hour would be a huge plus.
Thanks everyone - pamt
[ In Reply To ..]Thanks everyone for your input/suggestions. I am a new MT with about one years experience and not looking for a full income but some extra money. I was thinking it wouldn't be that bad to be paid by the hour being as I may be slower as experienced MT's. Lots to think about. Thanks!
Hourly rate when first beginning would be awesome - MTonamission
[ In Reply To ..]when first learning new accounts, as often your hourly rate can fall below minimum wage. Of course, that completely depends on the type of account, type of dictators, repetition, use of expanders and macros, etc.
After 10 years of being paid by the line, I am quite excited to have an interview next week with a doctor's office where I will be paid an actually salary plus insurance - medical, dental, vision AND a 401K. Not only a salary and benefits, but STRAIGHT typing, no VR! Even if they change my job and GO to VR I won't have to panic because my salary will stay the same.
The job I'm at currently, and have been with the past decade, has recently switched me to a VR account and my pay has significantly dropped, probably 30%, plus I have ZERO benefits and we consistently run out of work. At this point in my life I'm tired of the struggle, my child is now grown, and a benefits package and a guaranteed salary every 2 weeks sounds fantastic to me. This struggling every week to get work, get paid peanuts for VR, and NEVER have a decent check is for the birds and those who don't need to be the breadwinner.
If the hourly rate is decent, I'd go for it. In these times, it's rare for an MT to make decent money unless you have only a couple of accounts, lots of repetition, and a platform that doesn't require a bunch of fields be completed and searched out (free, of course, for the MTSO) by the MT. This, for me anyway, is a very time consuming task in my current platform for which I am NOT paid and thus another reason my pay stinks so bad.
When I made great money at MTing I had two accounts, continual work, I knew all the doctors well, only a couple of ESLs, could use lots of auto corrects and macros, and, of course, it was straight typing. Now I do VR editing, have multiple (probably 7) accounts that require about 60% editing each plus more time trying to populate fields than I do editing the reports (and not paid for populating these fields).
Good luck to you!!
I worked on an hourly account, but the only - reason we were
[ In Reply To ..]offered hourly was because the dictators were so bad. It was bad enough we only had to get 800 lines per day for VR or straight transcription. I would just make sure if it is with a large MTSO and not a local business that difficult dictators is not why they are offering hourly.
pamt - LindaB
[ In Reply To ..]I am really fast and experienced and make $32 an hour on an average. No MTSO is going to pay me that. I would not work by the hour, can make much more by the line.
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