Is Rev Transcription a Scam or a Decent Earning Opportunity – Review 2020

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The role of transcriptionists is no more limited to the medical and legal fields. The financial institutes and banks to government agencies as well as corporate houses need these experts to perform audio and video to text conversions on a regular basis. Media outlets too have a high demand for transcription experts to transcribe interviews for better interpretations. The good news is that transcription has emerged as an excellent work-from-home opportunity which allows people to make decent side incomes apart from their regular earnings.

The opportunity has, in fact, turned into a popular online money-making model attracting freelancers in huge numbers. Rev Transcription, or simply Rev and also identified as Rev.com, is one of the most talked-about platforms based on this model. Having completed 9 years of successful existence on the internet on August 2019, the website claims to provide regular income to hundreds of thousands of transcriptionists across the globe. We believe that you are reading this review to find out how true these claims are.

The following Rev review is an unpaid and unbiased analysis of the website, its functioning, membership process, background, reputation, payment system and much more. The aim is to provide comprehensive information about the site so that you may decide whether it is legit or a scam and what should you expect in terms of earning money from it.

What is Rev Transcription?

For several online users willing to make money online, Rev Transcription is a platform that allows it through the jobs related to transcribing, translating, captioning and subtitling. Here is a brief introduction to each of these jobs:

  • Transcribing: Converting speech from an audio or video to text
  • Translating: Converting text from one language to another
  • Captioning: A type of transcription job in which the converted text from the speech is added as captions to videos
  • Subtitling: A type of translation job in which the translated text is added to videos as subtitles

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One of the top aspects of the website is that it doesn’t require a person to be qualified or experienced in these fields to join it. Though, it does evaluate the applicants based on certain tests before approving their registrations. The site is based in the USA but allows people from any part of the world to join as freelancers and start earning money by performing the above-mentioned jobs.

For the companies looking for transcription, translation, captioning and subtitling services due to lack of expertise and time, Rev Transcription is like a pool of the best talents in the field. These companies prefer freelancers for these services as it helps them save money and get the work done flexibly.

How Does Rev Transcription Present Itself?

Rev Transcription is presented as a marketplace where the clients share remote speech-to-text jobs and the freelancers complete them, thereby enjoying mutual benefits. In its vision and mission statements, the company aims at creating great work-from-home job opportunities that are powered by the incorporation of modern technologies like artificial intelligence. It also aims to provide freelancers a flexible work environment where they have the freedom to choose the jobs without restrictions and work for as much time as they can without any restrictions. Putting it in the simple words, the website assures that the more you work the more you earn.

Rev Transcription Website: If you are habitual of assessing online money-making websites on the basis of their interface designs, Rev Transcription is sure to impress you with its website. It is a fast-loading, easy-to-navigate design where you can easily transit between different sections to extract information. The ‘freelancers’ page of the site offers information about the registration process and how to submit an application for joining it.

Rev Transcription Mobile App: The company has a mobile app available on both Android and iOS platforms. However, the app is of use for the clients who wish to sign up with the company and share job requirements on the go. For the freelancers, the app is useful only for viewing and claiming the available jobs. To complete the jobs, they would need the usual transcription setup (more about it later).

Rev Transcription Social Media Presence: The website not only has highly popular social media profiles and pages, but it also takes the pain to update these profiles and pages on a regular basis. For example, the Facebook page of Rev Transcription has 25,030 followers and 24,124 likes at the time of writing this review. One can also find recently updates posts, images and videos on the page.

Rev Transcription Support: While joining an online money-making platform, the people expect it to offer good customer support. Rev Transcription not only provides a verifiable telephone number and a valid email id but also has an active discussion forum with conversations involving the freelancers as well as the team behind the scene. However, it is difficult to conclude how well the site responds to the users’ queries.

Rev Transcription Training Support: The site mentions, and the users also agree, that there is full-fledged training support available for those who are new to the field of transcription and want to learn about it in order to make money with the site. Apart from a detailed FAQ section, the site also provides guidance on how to claim the jobs, transcription style guide and more through tutorials, videos, etc. Also, there are practice jobs available for those who want to learn through practice.

Rev Transcription Editor:

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Another aspect of the website which is worth mentioning is its user-friendly editor interface which allows even the beginner-level members to transcribe with fewer efforts. Some of the amazing features of Rev Editor include:

  • Auto corrections just like we find in MS Word
  • Timer alert which keeps the users informed about the time left for completing the jobs
  • Text expander using which you can make your own dictionary of abbreviations that can be set to expand to the desired words while typing. It is a good feature to improve the speed
  • Assigning different colors to different speakers in an audio or video for easy identification

What Is Known about the History and Credentials of Rev Transcription?

Rev Transcription has a well-recorded history and it works in its favor by lending the site credentials and trust value. The platform was founded in the year 2010 by Jason Chicola and Josh Breinlinger, two employees of oDesk (now Upwork), a popular freelancers’ network. Initially, the platform offered only translation services under the brand name FoxTranslate. It was in 2011 that it started offering transcription services under the brand name FoxTranscribe. Soon, the company was able to attract big clients like U.S. Bank, Pfizer, and the National Park Service.

The turning point came when Venky Ganesan of Globespan Capital Partners funded the company through $4.5 million in the year 2012. Two other eminent names that joined the board of directors included Ancestry.com’s COO Craig Sherman and CarMax founder Austin Ligon. At present, the company boasts of a network of 40,000 freelancers around the world, offering transcription and translation services to over 100,000 clients that include big names like Comcast, Home Depot and PBS.

It is worth mentioning that Rev is an accredited member of the Better Business Bureau since March 2019. If you visit the BBB page of the site, you would find the company enjoys ‘A+’ rating from the bureau which is indeed commendable. The page also validates the physical address of the company, also mentioned on its official website, as:

222 Kearny Street, San Francisco, CA 94108

You will also notice that on the page that the company has responded back to each and every complaint filed with the bureau. So, it can be concluded that it has a quick response system as well.

Rev has several accolades to its credit. In the year 2018, Forbes included it in the list of ‘The Top 100 Companies for Remote Jobs’. In the same year, it featured in the popular magazine Real Simple’s list of ‘100 Companies Offering Work from Home Jobs in 2018’. It also received the PCMag’s Editor Choice Award the same year.

How Does Rev Transcription Work?

Rev Transcription receives job requirements from its clients and posts it on its official website. The freelancers who are registered with the website explore the posted job requirements and claim the jobs they would like to finish. Once a freelancer claims a job, he or she requires completing it within the set deadline. As the job is done, the freelancer posts the file to the site from where it is submitted to the concerned client. Simple, isn’t it? Not exactly! You must understand some important aspects of the site’s working:

Performance Metrics: Every freelancer registered with the site is monitored for his or her performance. The purpose is to maintain the most talented pools of transcriptionists and translators who continuously provide the top quality work. The performance metrics used for evaluating the performances of the freelancers include:

  • Accuracy: Based on the number of mistakes (spelling, grammatical mistakes, etc.) per job
  • Formatting: How well a freelancer follows the formatting rules and standards
  • On-time Submission: How many times a freelancer meets the designated deadlines
  • Commitment Ratio: Every freelancer who claims a job has one hour to unclaim it if he or she finds it difficult to complete it. If he or she unclaimed after one hour, it can have a negative impact on his or her performance. The commitment ratio is calculated as the number of completed jobs divided by the number of unclaimed jobs after one hour in the past 120 days.

Grading System: Based on the performance metrics that are regularly updated for each and every freelancer, the site’s graders grade the freelancers. The site claims to do it in order to ensure quality, though many users report that the grading system is unfair and the graders are biased.

Freelancer Classification: Rev Transcription classifies its freelancers into three categories with the aim of assuring quality work to the clients. These classifications include:

  • Rookie: The category consists of the absolutely new members who have just joined the site. Considering their inexperience, rookies are allowed to take jobs with the length ranging from 1 to 30 minutes. Their performance is evaluated over 120 minutes of work and they are promoted to the higher category if their metrics are:
  • 5 for accuracy
  • 5 for formatting
  • 75% on-time submission
  • 8 in commitment ratio

The work they submit is evaluated by the site’s team before the final submission to the clients. Rookies receive detailed feedbacks for improvement.

  • Revver: The members in this category are free to choose jobs of any lengths. Their work is directly submitted to the clients, through feedbacks are provided later. They are promoted to the next category only after they work for 1,200 minutes and achieve the performance metrics of:
  • 6 for accuracy
  • 6 for formatting
  • 90% on-time submission
  • 15 in commitment ratio
  • Revver+: The members of this category enjoy many advantages. First, they are allowed to view and choose from the available jobs 90 minutes earlier to the members from the other two categories. Second, they may become eligible to review the work of the members from the other two categories. Needless to say, they get added bonuses for this.

Payment: Rev Transcription is admired for paying on a weekly basis. The site has fixed Monday as the payment day and it makes payments through PayPal. The good part is that there is no minimum threshold requirement and every member is paid per week.

Account Suspension: One common scenario with most of the online money-making platforms is a huge number of complaints from their users about sudden account suspension. Rev Transcription is not an exception in this regard. However, the company comes out with an explanation about this on its official site (and also while responding to the complaints on the BBB page). According to them, it is more likely to happen when a member fails to sustain its performance metrics, especially the commitment ratio.

The site mentions that a Revver+ member may be downgraded to the Revver category in case the desired metrics values begin to decline. And if it continues, the account may be suspended but only after prior notification via email.

What Do You Obtain with Rev Transcription?

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Now, the most important question is what do the members of the site earn through different jobs? Here are the details about the income in different categories:

  • Transcriptionist: As mentioned on the site, a transcriptionist is offered money in the range of $0.36-$0.65 per audio/video minute.
  • Captioner: The captioning jobs on the website pay in the range of $0.45-$0.75 per audio/video minute.
  • Subtitler: The task of adding subtitles to the videos after translation pays in the range of $1.50-$3.00 per audio/video minute.

Let us understand what you are likely to earn with the help of an example. Suppose you claim a transcription job of duration 20 minutes and the job pays $0.40 (40 cents) per audio/video minute. So, you will earn 40 cents*20 minutes = 800 cents or $8 for this particular job.

Now, the real question is how much time you take to complete this job which involves a 20 minutes video. If you have some experience and you are good at typing and focusing, it may take 60 minutes (1 hour). So, you would earn $8 in one hour. Suppose you take a similar job per day for one full month. As you must have calculated, your monthly income would be $240. Most of the users report that they earn on an average in the range of $200-$300 every month.

Income Potential: You can easily estimate the income potential based on the discussion in the above paragraphs. However, it would depend on a number of factors that include:

  • The type of tasks you claim on a regular basis
  • The costs per minute of every job you choose
  • The time you take to complete every job
  • The number of hours you devote per day and the number of days you work every week or month

Many users from the site claim that the payout rate of Rev Transcription is low as compared to other platforms offering similar jobs. We agree that earning around 40 cents per minute for a job that requires efforts is somewhat lower than expected.

How to Get Started with Rev Transcription?

The process of joining Rev Transcription involves a number of steps. Also, whether you qualify to register with the site would be decided by the company only. Learn in detail about the process below:

  1. Visit rev.com/freelancers and fill in the sign-up form providing details like name, email and position (transcriptionist, captioner, etc.) you want to opt for.
  2. In the next step, the site conducts a quick quiz to evaluate your English language and grammar skills.
  3. In this step, you would be required to submit a sample that would be used to evaluate your transcription/captioning skills.
  4. In case you qualify, the site would inform you via email within 48 hours. Complete the registration and begin claiming the jobs.

In case you don’t qualify, you can reapply for registration after 45 days.

What Do You Need? Apart from qualifying through the quiz and tests, you need to fulfill certain requirements that include:

  • The minimum age of 18 years
  • Availability of computer/laptop, headphones, and an internet connection
  • Assurance that you would not share the files/information of the site’s clients with anyone

Many users from the site mention that the site sometimes has jobs with audios of poor or bad quality. They recommend using headphones with noise-canceling features and software tools with sound quality enhancement features.

Is Rev Transcription Legit or a Scam?

After such extensive research about the company, there is no doubt left that Rev Transaction is a legit online money-making platform through genuine transcription and translation jobs. Let us revisit the points that support this conclusion:

  • The history of nearly a decade is too long for a scam to survive
  • Rev transaction has one of the largest networks of freelancers
  • Many reputed companies use the website to get quality transcription work
  • Better Business Bureau’s accreditation and the topmost rating
  • Physical address and contact information which is verifiable

What you should really be concerned about is whether joining Rev Transcription is the right decision or not in terms of time spent, efforts made and income generated. For this, let’s take a look at the site’s pros and cons:

Pros:

  • Fantastic Rev Editor which makes the transcription, captioning and other jobs much easier even for the beginners.
  • No restriction on how much work you are willing to take over a period. You may work for a week, take a long break and then resume the work at you will.
  • Choose and claim the jobs according to your comfort. The site doesn’t force any of its members to choose specific jobs only.
  • The site pays weekly which means you won’t have to wait especially if you make a decent amount in a week.
  • Customer and training support is quite impressive. You can actually learn the work before starting taking jobs.
  • No experience required and the site is open to register freelancers from all parts of the world.

Cons:

  • When compared with other similar websites, the average payout of 40 cents per minute is low.
  • Bas audio quality if frequently reported by the users because of which they find it difficult to achieve the desired accuracy level.
  • The site’s users also report that the jobs may dry up all of a sudden especially during the weekends.
  • The grading system of the site is often criticized for being inaccurate and unfair.
  • The section process is a bit tough. It is reported by many sources that the site selects only 10% of the applications it receives.

What’s the Final Verdict?

Rev Transcription can almost be considered a full-time income source. Still, it is a good option for stay-at-home parents, students with a lot of free time and those who wish to add to their regular job income. By devoting a good amount of time and improving on typing speed, listening skills, language fluency, and focused attention, one can extract some good benefits from the site. We rate Rev Transcription at 4 on the scale of 1 to 5.

 

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