feast or famine

The nature of the transcription business, from personal experience, is feast or famine, with usually not much in between.

In other words, learn to get while the getting is good so you're prepared for the leaner days and can carve out a decent average for yourself in accordance with your budget and paycheck you have to make to pay your bills. You DO have a personal budget and know the income you need to pull in on a consistent basis, right?

Having said that, if you're with a company for several weeks, and there is little to no work at all, that's when you begin sending out resumes and executing Plan B (you DO have Plan B, right? And C and D if necessary, right?). Cycles are expected. A consistent bare trickle that never picks up, is not. That means the company has really bad personnel management skills or is losing accounts and unable to pull any new accounts in, and so it's time for you to consider your options because things are not going to change.

If this is really your situation, then you should a) notify your current employer that you're scaling back to part time or per diem (and provide them with the times you will be available) and b) get another job ASAP to make up for it. I know a few MTs that work for more than one company, part time, and between the two pull in a nice paycheck. It's smart, especially if neither of them have guaranteed work for you to fill a full-time schedule and make a full-time paycheck.

Remember, you're working for YOU, not your employer. And you should have high expectations from yourself to meet your own needs instead of relying so heavily on other people, whether they send you a paycheck or not. :)

• Loyalty to Companies Who Have No Work and Expect a Schedule from YOU - MT
  • there have been regular attempts to organize MTs over the years ... - dandelion
  • I love your analogy of the fence painter s/m - gourdpainter
    • Glad to see your moniker back, have - linda
      • Thanks, Linda s/m - gourdpainter
        • LOL-I saw one of those at the eye doctor earlier - mlstoo
    • I cannot see why anyone particularly IC would sit and wait on work. That is almost - MT
      • The biggest insult is... - Frustrated MT
        • Wonders How Many MTs Here HAVE Benefits NM - MT
          • (and what their premiums/copays are) sm - MT
            • The insurance does stink... - Frustrated MT
              • My sister dropped her insurance. sm - mlstoo
            • actually not cheaper to pay it - yourself - ins gives discounts
              • That is true in my case as well... - MT
              • I have saved a ton of money this way - on insurance
              • Really?? I didn't know that! Good to know, thx. nm - MT
              • Insurance - gourdpainter
                • I used to think the same way - until I did insurance billing for a couple years
                  • I agree. As medical insurance biller/coder/transcriptionist - Jackofalltrades
                  • self-pay discounts - kt
                • truthfully that has been my exp also nm - MT
      • And furthermore, you can see this hits a sore spot, this giving people backup accounts and then - MT
        • I definitely agree. - sm
  • feast or famine - drn
    • Used to be. I haven't experienced any feasting in a few yrs now. - It's all famine now, and I'm outta here. nm
      • Famine indeed - gourdpainter
    • Could not agree more with your philosophy - IC for a recently "famine" MTSO
  • Here you have classic IC loophole - sm
    • Could be - Alice
  • So, what do we do about it? - justapainter
    • I don't know where you live but where I live foreclosures are rising and there are no jobs -- non - dandelion
    • See inside for what I have done about this very pathetic situation. - MT
      • What MT said - fatcat
  • Very well said! nm - Indeed

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The nature of the transcription business, from personal experience, is feast or famine, with usually not much in between.

In other words, learn to get while the getting is good so you're prepared for the leaner days and can carve out a decent average for yourself in accordance with your budget and paycheck you have to make to pay your bills. You DO have a personal budget and know the income you need to pull in on a consistent basis, right?

Having said that, if you're with a company for several weeks, and there is little to no work at all, that's when you begin sending out resumes and executing Plan B (you DO have Plan B, right? And C and D if necessary, right?). Cycles are expected. A consistent bare trickle that never picks up, is not. That means the company has really bad personnel management skills or is losing accounts and unable to pull any new accounts in, and so it's time for you to consider your options because things are not going to change.

If this is really your situation, then you should a) notify your current employer that you're scaling back to part time or per diem (and provide them with the times you will be available) and b) get another job ASAP to make up for it. I know a few MTs that work for more than one company, part time, and between the two pull in a nice paycheck. It's smart, especially if neither of them have guaranteed work for you to fill a full-time schedule and make a full-time paycheck.

Remember, you're working for YOU, not your employer. And you should have high expectations from yourself to meet your own needs instead of relying so heavily on other people, whether they send you a paycheck or not. :)

After working for a hospital medical records department for over 15 years, which I know realize was a cushy job and not the norm, and now working for 2 services and still not making enough money, I'm curious to know if anyone else is struggling financially because of the constant feast or famine syndrome.  I realize that on my FT job, they basically want transcriptionists available 24/7 even though you clearly have set schedule, and being available 24/7 is probably the only way to make your quota with the ups and downs in the work.  Unfortunately, I have 2 jobs, 2 children, a dog and a significant other and really can't be strapped to this computer day and night...not to mention I need to eat, shower and sleep....

How is one to survive?  Should I be working 3 jobs? I need help.

I know that is tough to get used to, but even when you have your own accounts, the workload can wax and wane. It can also change overnight.  I have my own accounts that wax and wane.  You can never really count on anything being absolute in this field.  These companies can only offer you what they have because it depends on the dictator and how much work there is at any given time.  Almost any company will tell you this if you haven't already experienced the same.  It is unfortunate, however, this field does require some flexibility.  I guess that may come with more years of experience and being in the know upfront that nothing is forever.  A lot of time these larger companies only can sign 3-5 year contracts.  I am an IC (not for Transcend), and when there is a need, boy the e-mails come sailing through asking can I help, but when the work is low, my e-mail is dry.  Adapting and adjusting is all part of this field for sure.    

P/S:  I was a employee at one time for Transcend, but I do believe they are offering contracts at this point to IC as I did see a recent post. 

I work part-time with a daily number of lines to complete, no set schedule.  My work is usually pretty steady, but over the holiadys when things slowed down, I decided to get another part-time job.  I ended up in direct home sales.  I make more money at it than I do MTing and I get to set my own schedule.  I usually do 2 shows a week, averaging about $150 to $200 per show.  The shows take about 3 hours in total and the computer work is about an hour or less. 

It also gets me out of the house and gives me a break from my kids.  I will say that I'm pretty fortunate that my husband has a M-F 8-4 job, so he's able to be home with the kids on the evenings I do these. 

I keep a separate checking account for my business and it's really neat to watch it grow.  I'm saving the money for a rainy day (or famine) and when I get to a certain amount, we're putting in a pool.  I'm halfway there already.

No way would I stay attached to my computer.  If things are slow, I put that time into my new business and work on getting new shows booked or party games or invitations.  There's always something productive to do.