Is transcription a good way to earn extra money online? Tigerfish Transcription says Yes it’s but is Tigerfish Transcription a scam? Let’s find out!
In order to make money from transcription, you just need a computer and Internet connection; that’s why it’s turned to one of the first jobs people try to make some extra cash but because of several skills required for that, it’s not a good opportunity for everyone and companies that hire transcribers required you to pass some qualification tests before hiring you.
I was interested to give transcription a try and I’ve started to search for reliable companies in this field and it was when I’ve got familiar with Tigerfish Transcription. At first glance, it looks very legitimate and reliable company but when I’ve taken a deeper look at it, I’ve found some disappointing facts that stopped me from giving it a shot.
Now, I invite you to read this unbiased review of Tigerfish Transcription to see what you can get from this U.S. based transcription platform and if the money you’ll earn over there worths your time or not.
Product Name: Tigerfish Transcription
Official Website: https://tigerfish.com
Owner: Adam Goldberg
Type: Audio/Video Transcription Jobs
Cost to Join: Free (Qualification Test Required)
There’s no doubt about the legitimacy of Tigerfish Transcription company and they really pay people for completing data entry and transcription tasks. You can join and start earning at Tigerfish Transcription, however it low earning potential and some limitations make it not suitable for everyone.
The website is not open for everyone, actually only people who live in United States and who are older than 18 years old can open an account in Tigerfish Transcription.
Overall Rating: 3.8 out of 10
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Intro – What Is Tigerfish Transcription Exactly?
If you remember, I’ve told you that there is a wide range of money-making methods on the Internet and I’ve covered some of them in reviews like Inbox Blueprint , PlanproMatrix or Max International.
I’ve done deep research and found out that there’s not any suspicious thing about Tigerfish Transcription and it’s a company with a good reputation among consumers.
TranscribeMe, Speechpad or SpeakWrite are the main competitors of Tigerfish which give you an opportunity to make money by transcribing audio and video files.
Transcription is an easy job to start making money but some tools and software are required (like high-speed Internet connection, a windows (not Mac) system, phone number and a headphone with good quality) in order to become a pro transcriptionist. Tigerfish Transcription designed a specific app called “Express Scribe” and requests you to download and install it on your computer so if you don’t feel comfortable with installing third-party software from other companies on your personal computer then you should look for another transcription company.
There are some limitations if you want to work as a transcriber with this company. For example, at the moment, it only accepts freelancers who are above 18 years old and are from the United States; however it’s still a beginner-friendly platform and this means, everybody with any level of transcription can join it.
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How Does Tigerfish Transcription Work Exactly?
Most transcription companies require you to fill out only an online form to be able to start working with them but this sign-up process is different in Tigerfish Transcribing.
Tigerfish created a guide named “Tigerfish Transcription Style” and recommended ALL transcriptionists to read it carefully before applying. At this guide, you’ll see all requirements (quality, speed, type, etc.) that you need to have to join this company.
After checking out the guide file of Tigerfish, it’s time to pass some transcription tests which let this company makes sure that you’ve enough skill to join their team. You’ll be given some audio files and your task is to transcribe them as quality as possible. Keep in mind that you need to download a special app of this company (Express Scribe) to be able to listen to files.
The test files are very similar to audio files that you’ll receive after hiring so you know what type of files you’re going to transcribe by taking this test. When you’re done, you can send files to Tigerfish Transcription and wait for their response. It may take from a few days to 2 or 3 weeks to get a response and when a candidate is disqualified, he/she may not get any response from Tigerfish. Yes, this is a negative point for this Transcription company.
What Is the Real Income Potential Behind Tigerfish Transcription?
If your typing speed is high enough then you would expect to make around $10/h with this company. They pay ~$0.005 for every single word so you’ll earn ~$1 for every 100 words.
There are some professional transcribers who can make $15/h or even more, however, don’t forget that they type pretty fast, use advanced transcription tools and are passionate about this job role.
How Much Does It Cost You to Join Tigerfish?
The good news is that there’s not any membership or joining fee to become a transciber at this company, however, without having access to some necessary tools (high-quality headphone, high-speed and stable Internet, Windows system, etc.) your chance of getting success is around zero.
Tigerfish Transcription – Likes & Dislikes
What I Liked…
- Easy to Sign-Up
Regardless of the qualification test, all you need to do is filling out an online application form with basic information like name, address, phone number etc. Of course, you need to complete the required transcription tests that are in the bottom of the sign-up form but the sign-up form itself is easy-to-complete and straightforward.
- Beginner-Friendly Web-Based Platform
You can be a complete beginner at transcription and you have still a good chance to get job at Tigerfish Transcription. Actually they are taking all these tests to make sure that you’re the Right candidate for the job and it does not matter if you’re a pro transcriber or have no related experience in this field.
- An International Company
After joining Tigerfish Transcription you can choose your favorite topics to transcribe files. The topics include but not limited to Economic Forecast, Earth Science, Boardroom Files, Legal, Marketing, Consulting, etc. so there are always something you can work based on your interest.
Also, sometimes you have a chance to receive files from well-known companies like American Express, USA Today, NASA, ABC, Wall Street Journal, etc. and this can be used as an impressive experience and positive attitude on your resume to apply for better opportunities.
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What I Didn’t Like…
Although Tigerfish is in the Transcription business for +25 years but this is not enough to choose a company to work with. Here are a list of all I didn’t like about Tigerfish Transcription:
- High Upfront Cost
There’s a product inside Tigerfish Transcription called Start Stop’s Power Play and you NEED TO buy it in order to get Transcription jobs. Unfortunately, it’s not cheap at all and it costs you $200 which is not good news for beginners and newbies.
The downside of this upfront cost is that you don’t know what you will get after purchasing it and if it increases your earning potential or not. This is the first negative point of Tigerfish Transcription.
- Only For Residents of United States
Tigerfish calls itself an international company but when it comes to accepting new members, it’s open only for people who live in the United States. This means, all companies, offers and transcription jobs listed in the official website of this company are only available for residents of the united states and other people even from North America or Europe can’t apply for jobs.
- Not Fixed-Rated
Tigerfish is not the first transcription website that I’ve reviewed. Before that, I’ve tested several other platforms in this field and I’ve found out that they’ve several things in common like paying different rate for the same job.
The truth is that there’s not a fixed-rate in the transcription industry (ex link), this means, each company pays employs according to the budget, quality of work, topic of the audio file, etc. And that’s why you may get pay $0.10/minute to transcribe an audio file from a company but another company is willing to pay $0.80/min or more for the same file!
Also the length of your audio file is important and your earning potential very depends on it. Keep in mind that you should also work with editors in different companies closely because they are the only persons who can approve or don’t approve your delivered work.
Another thing is that you only get paid if your work is approved by the editor and if it’s not acceptable, you won’t get paid and you’ll have to resubmit the work again. This is the main reason why you can’t except to get a fixed-rate for transcription jobs.
What’s The Best Choice, Affiliate Marketing or Blogging?
You may wondering why I want to talk about affiliate marketing and blogging here. First of all, it must be said that blogging is not far from transcription and when I say blogging, I don’t mean only creating a website and publishing posts, I mean any freelance work similar to blogging.
Now I want to compare jobs like blogging or transcription with more powerful businesses (how to build an online business) called affiliate marketing. There are several ways to make money from blogging and CPC is one of the most common ones.
If you have a website with thousands of monthly visitors, you can use services like Google AdSense to generate a few extra dollars for clicks your get for that. Constant traffic and quality content are two important factors of this method.
Anyway, earn a passive income is much easier with affiliate marketing. You don’t need to create your own product and all you need is promoting products of other people to the right group of customers and earn a commission whenever a person (potential buyer) buys that item.
Affiliate marketing has several advantages compared to blogging or transcription, however, the most important positive point of this business model is its unlimited earning potential that lets you make more money from that.
You can also start it for completely Free and Top-Rated Training Platforms like Wealthy Affiliate helps you walk in the right direction of this business with a unique one-on-one coaching system. If you’re interested to have your own online business, don’t miss the chance of trying it!
Final Word – Is Tigerfish Transcription a Scam?
I’m 100% sure that everything about Tigerfish Transcription and its owner, Adam Goldberg is completely legit. Adam has built Tigerfish himself and turned it into a well-known company during the last 30 years; all this gives us a confirmation that there’s nothing to worry about its legitimacy.
This transaction company has been featured on media like Capital One, GE or JP Morgan for several times and this shows that there’s trust between company and people who joined it.
I would not call Tigerfish Transcription a scam or Ponzi scheme however, the only questionable thing for me is its $200 software. I’ve done a research about all features of this transcription software and I still can’t say it’s a necessary software for doing transcription jobs, although Tigerfish insists that Start Stop’s Power is a Must-Have software you need to purchase if you want to find the right clients and deliver works with excellent quality.
Conclusion – Do I Recommend Tigerfish Transcription?
This is a pretty important question. Even though I’ve seen many positive points in this company but I don’t recommend you to pick it up for making a full-time income.
I understand that you (and many other people) like to make some money online but they can’t find the right way. Sometimes there’re legit opportunities like Tigerfish Transcription but evidently most of these options are costly.
To be honest, transcription can’t make you rich over the years even if you become a pro transcriptionist, have outstanding skills and work with big and international companies. This is true about this business and if you hear something else, you should know that it’s wrong!
With the same amount of time and effort that you want to invest behind the transcription business, you can earn more money (+$10k/month) from other online businesses like Affiliate Marketing. Again, I confirm that Tigerfish Transcription is a legit company but if you’re looking for a stable passive income, you should build your own affiliate marketing business; it takes time and you progress slowly but what you build during the time will pay you off well in the end.
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Thank you very much for spending your valuable time to read this review of Tigerfish Transcription. I hope you’ve found the information that you were looking for about it in this article.
I always would be more than happy to see your thoughts so feel free to share it about this website and other online money making ways in the comments below. I read all the comments and reply to them personally.
See you soon in the next review! )
Good Afternoon Ali,
I’ve done a fair bit of article writing for websites in the past, and have looked into transcription companies to an extent as well – although never worked for any of them. I don’t know anything much about what it’s like in other countries, but in the UK, you would have to be absolutely razor sharp to earn a good living purely from transcription assignments. This post sheds a decent amount of light on the topic, and it is definitely a subject that is worth clarifying.
Thanks A Lot
You’re very welcome Simon and thank you too for your comment )
Wow, this was a very informational post. I started reading it because I was interested in finding honest, reasonable ways to make money online. I had read about transcribing as being an option, but wondered how much you could actually make. You answered that and open my eyes to affiliate marketing and how much more potential it has for producing higher incomes. I know transcribing would work if you just want a littel extra spending cash, but it’s not for me after reading this article. Thanks for all the information!
You’re welcome Chase. I try to continue writing informative reviews. )