Welcome to my Speechpad review!
Are you looking for legitimate work from a job? You might have found Speechpad as you do so.
The overwhelmingly positive reviews might have aroused your curiosity and wanted to do more background checking about the platform.
If you’re looking for answers, whether the business is legit or just a scam, then you have come to the right place.
In this review, I will provide you a thorough analysis of the platform and help you determine whether it is a good fit for you.
So without further delays, let’s begin my Speechpad review…
- Name: Speechpad
- Website: speechpad.com
- Founder: David Feinleib, Mike Ruf, and Ernie Beernink
- Price: Free-to-join
- Recommended?: As a source of extra income, YES!
What is Speechpad?
Speechpad is a business that offers transcription services that is available in many parts of the world.
The service provides transcription for both audio and video files.
Some of the specific services they offer include—
- Video transcriptions
- Insurance transcriptions
Speechpad was established by co-founders David Feinleib, Mike Ruf, and Ernie Beernink on February 1, 2009, according to crunchbase.com.
The company is currently headquartered in Los Altos, California, United States.
They are not the only company with a long tenure in the business, but ten years is long enough to say that is Speechpad is a reputable platform.
Also, they are working with several companies that are under the Fortune 500. Therefore, you are assured that you are in good hands when you join them.
If you want to earn income through Speechpad, you’ll be joining as a transcriptionist. Also, you’ll be working with computer-generated transcriptionists.
According to Speechpad, combining artificial intelligence and human intervention provides more accuracy to the files.
The good news is that they don’t require experience when someone wants to join them.
The downside, however, is that the potential income from such platforms may not be that great, especially if you’re a beginner.
Speechpad is paying per audio minute. I will discuss more on this in the next chapters. But to give you an overview, it ranges from $0.25 to $1 per audio minute.
What this means is that your pay is determined by how many audio files you have transcribed. And it is not based on how many minutes or hours you have worked.
You may also have to expect that the number of invitation to transcribe may not come as often if you are a newbie.
You may also be interested in reading my other reviews on how you can earn online. It includes the following MegaTypers, Music Xray, and Dabbl App, to name a few.
The registration process
The application process is relatively straightforward.
As mentioned earlier, Speechpad doesn’t require any past experiences or technical skills.
However, you need to pass their qualification test to work for them officially. Some of the tests include typing speed and grammar, to name a few.
Of course, you also have to take note of these essentials that you may need as you begin working for them—
- Laptop or Desktop Computer
- High-speed internet connection
- Noise-canceling headphones (it is optional, but I recommend it nonetheless to help you concentrate as you work)
Once accepted, you will start earning a beginners’ salary of around $0.25 per audio minute.
But your pay increases up to $1 as you gain experience as well.
How do the Speechpad works?
After the registration process, you can now begin to view your dashboard—it is where you can search for transcribing jobs and accept offers afterward.
Some of the expertise that the transcriber would provide includes—
- Video tagging
- Web video captioning
- Quality check
There are instances when you have to get qualified first before you can apply for the available position.
This happens when you don’t have enough credentials to qualify for the job offer.
There are actually three types of qualifications that are asked. And includes the following—
Invitations – only a select few are invited to accept the job offer.
Background check – they have to do a background check first before they offer the job.
The specific skill required – the transcriber doesn’t have the technical skill they are looking for. Therefore, they need to level up by taking examinations.
It is important to note to make an effort to do well to improve your ratings.
As you move up to the next level, you will also begin to receive more job offerings. Your rate also increases as a result of your consistent job-well-done.
But as I mentioned earlier, your pay is based on per audio transcribed and not per minute.
This means that beginners to transcribing may find it hard to catch up at first.
For example, let’s say that you’re a beginner and earning the initial of $0.25 per audio minute.
An experienced transcriber may earn $15 for a 60 per audio minute.
While advanced transcribers may work on transcription jobs smoothly, it could become problematic for a novice. They may work on them a little longer, which may possibly last for three to five minutes.
This means that they would earn the $15 in about three hours, at least.
With this being said,—speed and accuracy are extremely vital to succeed in this type of job.
Well, practice makes perfect, right?
You also have to take note that you will have to compete with more experienced transcribers.
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The payment process
Once you earn, it is transferred directly to your Speechpad account.
What makes them unique from the rest is that you don’t have to request for payments. They transfer it to your PayPal account twice a week, similar to a regular job.
As a beginner, if you have the patience or you find the job fulfilling, then you can maybe work yourself up to earn a higher income.
If you’re looking for a better source of income, then you need to see my best work-at-home recommendation.
Is it a reliable source of income?
I think earning significant income as a transcriber is possible. But you may have to go through hardships first before you can get more job offerings and earn a higher income.
But overall, I think they could be a reliable source of income as you gain more experience.
One good thing about Speechpad is that they don’t require experience and not meticulous in hiring potential recruits.
Nothing is impossible if you have the desire and the right mindset to succeed.
As discussed earlier, the income could be as high as $15 in an hour. That could translate to $45 in just three hours of transcribing.
But of course, you have to consider that the work may not be consistent. And you have to wait for certain periods before you can get transcribe.
With this being said—your income may not be consistent and fluctuate from time to time.
Also, as I explained earlier, if you don’t have the patience and wanted to earn a higher and more stable source, then you can find other options out there.
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What I Don't Like About Speechpad
Although there’s a potentiality that you’ll earn a higher income, it still depends on experience and frequency of invitations (which you have no control) on your dashboard.
Limited job offerings
This is especially to newbies. The number of jobs offered to beginners may be limited.
No BBB credentials
The Better Business Bureau or simple the BBB is one way most people refer to when checking the credibility of a company.
Not having a profile with the BBB doesn’t immediately indicate that the business is fraudulent in any way, but it may significantly impact the decision-making of potential new members.
What I Like About Speechpad
Simple registration process
Signing up is pretty straightforward and could only take up a few minutes.
Flexible work hours
You can work at your own time and pace.
Your earnings are transferred via PayPal. And you don’t need to request for withdrawals because they will transfer it automatically twice a week.
Is Speechpad a scam?
No. I did not find any reason to believe that they are a scam.
Based on my research, Speechpad is a legitimate company. The fact that they are working with several companies that are listed the Fortune 500 and in the business for over ten years says much about their credibility.
So yes, you can trust them fully if you are thinking of trying them out as a regular source of income.
But as I said, don’t expect too much at first. You have to work hard to improve your rankings. And by doing so, you earn more clients and high pay eventually.
I hope my Speechpad review has provided you sufficient information about the platform and helped you in determining whether the business is a good fit for you.
Although Speechpad is legitimate and high income is a possibility, I still don’t recommend them or any online money-making scheme.
The pay is too low, as far as I am concern. And the frequency of clients may not come as often due to how saturated the platform is.
There better alternatives if legitimate online jobs are what you’re after.
Continue to the next section and discover how you can achieve financial freedom online…
How I earn income online
Affiliate Marketing is a better option than any freelance platforms or online money-making sites like Speechpad.
It is way much better for several apparent reasons—it is as follows—
- No upsells
- It is free, to begin with
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Yes, your main reasonability as an Affiliate Marketer is to promote a brand using your online.
And the way it works is that the company will provide an affiliate link. And the link will be attached to your online site.
And then you earn commissions anytime someone uses the link and eventually purchases the products or services offered on your affiliates’ website.
Of course, the success of your endeavor may rely on how much is being driven into your website.
If this is your concern, then worry no further. I got you covered!
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Thank you for taking time off and reading my Speechpad review!
Hope to see you next time!