Making decent money here.
Posted By: SAHM on 2008-11-21
In Reply to: Have you new MTs seen what is going on - with the MTSO on other forums?
I was one of those stay-at-home moms that wanted to make my own hours and earn a good living and I am doing just that. I have been an MT for 2 years now. I work at home while caring for my 3-year-old son. Yes, it is not easy, stressful even, but I make more money at home (close to $20 an hour) than I would make at a B&M job and I don't have to pay $1000 a month for daycare anymore. I have a completely flexible schedule and I work early in the morning while my son sleeps and during his nap times. If I have to, I work again in the evening to finish up work.
This profession is difficult and takes a lot of work, but what career that pays a decent salary doesn't. It is possible to make more than $4-8 an hour. It does not take years and years. I was up to $12 an hour after 6 months, comparable to what I made in my previous position, where I had been employed for 3 years.
Just because you can't make it in this industry is no reason to discourage others from trying.
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Go to a decent school to begin with - sm
I graduated from MTEC more than 8 years ago and had recruiters beating my door down to test me when I graduated. I tested with several of them and had offers from every one of them to begin working immediately. I have been working at home ever since. I have also heard Andrews is good. You never see people from these schools on these boards begging for someone to give them a chance. The education alone opens doors. Best of luck to you! 
Is MT a decent job based on pay #s I see here? And how is outsourcing affecting pay?
I am brand new to the MT world. I'm considering taking training and an internship at a local company (my cost = $2,000) and then working as a contractor for them. From reading different questions and responses here, I'm concerned that the pay is pretty low and has not increased much in the past few years. My other concern is that more companies are outsourcing their work overseas because it's cheaper. How much of that is happening and how much is that hurting pay here?
I'd appreciate any information and opinions. I have to decide by Monday, January 8. Now I'm thinking that I should just find another career path and take classes at a community college. I worked in another career and made excellent money, but the stress and long hours were just too much. I was looking for something less stressful and the chance to work at home. THANKS!!!
Or not so much stress or long hours, decent pay
I totally understand what you're saying, but being an MT varies so much based on what you bring to the job, where you work, and what kind of account you have that it's pretty tough to predict how any particular person will do. I'm very happy with my job. I find it to be the least stressful job I've ever had, love the predictable hours, and made 34K this last year working strictly a 40-hour week. This is after 1-1/2 years as an MT. I found the first 6 to 9 months terribly stressful because of the high learning curve, but once I settled into my account the stress level dropped considerably. I'm still working the same hospital account I started on, but also work other accounts as necessary. I work for a company that many people on this board say they can't make any money working for; it must have a lot to do with the stability I've had on my account that I am able to make reasonably decent money.
You didn't post here to get decent answers
You posted hoping that everyone would agree with you. When they didn't, you flipped out. That is exactly why the company you are working for is not going to cater to you...because they don't like your attitude! 
I disagree. Allied has a pretty decent program.
I hope you're being paid a decent wage and not being
taken advantage of, which happens a lot.
Difficulty finding work despite decent grades from Andrews
Angela,
I am a recent grad of Andrews--one of the top two schools recommended--and I graduated with a grade average of 97.9.
Contrary to popular opinion, Andrews' grads do not have several job offerings available to them as soon as they finish up school. The graduate is basically on her/his own as far as scrounging up a job. Having Andrews on my resume only allows me to test for a few MTSOs that would not have even given me an e-mail response. It is not an automatic door-opener at all.
I am having a difficult time finding employment because there are only so many entry-level positions available for new grads. There appears to be a glut of newbies. The economic decline is not helping either.
I have passed every single acute care transcription test where I was allowed to test, and I am on many "waiting" lists for future openings. I am really lucky that I am disabled and at least have some money coming in that pays the mortgage. I can wait for an opening, and I don't have to sign on with those MTSO that preys on newbies who can't find jobs.
If folks from the top schools are having difficulty finding employment, just imagine how much more difficult it is for someone that has only completed a low-quality matchbook-type MT education.
I wouldn't waste any money on the Penn folks.
Kathleen
I never hear of those who attended decent schools unable to find work
You can pay now or later. I had job offers with every company I tested with when I graduated from M-TEC, which was more than 8 years ago. I have worked from home since day 1 doing both clinics and mostly acute care. I do not know of anyone who graduated with me who has ever had problems finding a job. Employers are catching on as to which schools offer enough training so that the grads actually have some experience under their belt or are worth bringing up to speed. I also did not have to start out at 6 cents a line. That is absolutely insane.
You are still making typos
I hate to burst your bubble, but this is a tough field. Any smart client is going to ask you how much experience you have. In fact, they may not have to ask, they will know by talking to you or by your email or correspondence to them that is filled with typos. You need to get a job first and get some experience behind you first.
I do not have to run after children, etc. so making a
schedule is just great with me. This is a place where I was up and running right away with the work because it was work I have done for the past 16 years. I was so happy to find who had the acct when the other service lost it, just luck in that a person from MTs told me who had it. I love op notes and was working a 12-5 p.m. and guess what, that is exactly what they wanted so see we fit just like a glove. I am so lucky to be able to choose what I want now. They wanted those, I wanted those. I think the IRS could care less as long as they get their money. I have yet to find out much I need to sit aside but again will have to talk with my tax person pretty soon. I just started at this new job at the end of November. By the way, read on this post about how others are treated in their jobs with QA, etc. This job is a DREAM. They leave you the heck alone. Anything coming from QA in an email and really constructive criticism and taken as such. I love my job and my life. Happy, happy!!
Missa, I'm making 5c
And it is depressing. But like you say, you have to pay your dues. Just finished my first year of MT. I was getting 3c at Sten-Tel for VR, but that's IC.
i am. i've done this 25 years and making top $
newbies, however, who get all puffed up about how much they've mastered, omg i am laughing here trying to type this, are quite the funny.
Goodie for you for making the decision SM
to not use your degrees and stay home with your babies...but in the REAL world most women do not have that option if they want to be able to feed and clothe their children. You really CAN'T live on love. I had to put my oldest son in daycare at 6 weeks old. I hated it, but he certainly couldn't stay home by himself! It had nothing to do with "social skills" or "convenience." It was "necessity." I was fortunate enough to be able to stay home with my other 2 children (as my paycheck would have just barely covered the cost of 3 kids in daycare, so it wasn't worth it).
You really shouldn't be so judgmental and self-righteous. There are 2 sides to every story...not just YOUR side.
Seriously.
Chickadee
Try making a handwritten list as you have to look up
the drug names. I have a lot of experience, but I also get stuck on drug names sometimes. That is my weakest point as well even though I hate to admit it, but one thing that helped me is to handwrite on a piece of paper that sits next to you all of the new drug names and their correct form (whether to cap or not), and then for some odd reason (it worked for me) when I'm transcribing I'll think to myself, oh wait, I know that one is on my list. Googling is good too, but you have to watch the sites as not all are consistent or may not be correct. Googling can pull up all forms of that word being used, so just be careful there. You'll get there, and happy MT'ing... 
I'm making that after 19 years of experience
It would depend on what you're doing in three years as far as a job or having your own clients. I wouldn't expect to make $40,000.00 after three years. I think it will take a lot longer than that to build up to that kind of money; however, if you work 2 or 3 jobs, you could probably come close. You'll just always be transcribing and you'll have no time for anything else especially if you plan to work for a national.
No way to tell. Is the software easy to use? Will you be looking up addresses? Making a log? Having
s
you are making an assumption (a dangerous thing to do)...sm
you are assuming chiropractic care and chiropractic adjustments are the same thing and I don't think you can make that assumption. For example, he may be thinking of doing some myofascial release under chiropractic care and then specifying adjustments. I would put "chiropractic care, (the other treatments,) and chiropractic adjustment.
a) he probably won't even notice what you consider a redundancy, if he reads it all
b) why would you want to take OUT words from a dictation - you get paid for them, don't you?
In the healthcare field, we don't make assumptions.
I personally did not incorporate until I was making over $50K a year because
of the added fees (paying CPA for one thing), corp taxes, etc. MT services carry so little liability I don't think incorporating to install a corporate shield is really necessary, especially since they go after deep pockets anyway. But incorporating if you are making $50K or more per year is a very important tool for income tax savings. If you are sending work out to other people and they are doing the work, then you turn around and send it in to the client, essentially YOU are not doing the typing, YOU are not earning the money, YOUR BUSINESS is. Therefore you should not be paying social security tax on earnings that are not YOURS but YOUR BUSINESS'S. If you incorporate you can pay yourself a reasonable salary for any transcription you do, plus shuttling the work back and forth. Let the rest of the earnings ride as the company's earnings. You will pay income taxes on them as any profit flows through to your personal taxes but you will save on that big 15% bite from social security. Other advantages though of incorporating are to set up your 401K and let your business make contributions to it. Again, though, that's something that's not likely to happen until you are making a lot of money. As you are a newbie, I don't see that in the near future...
&that rate is experienced MT. Figure you making
x
Thanks all for your input! It helps alot in my decision making! nm
I remember my first job quite a few years ago and making about $2 an hour until I learned...sm
the account, got used to the doctors, learned how to efficiently research etc. I also needed to create my own expansion program as the system I worked in back then would not allow an outside expander. Keep at it and good luck, it will get better.
Who are you?? I think at this point someone is making up names to post. Get a life! nm
xx
OOhhhh - they have basket making classes? Too bad they don't offer a class on maturity.
**
Wow..how does that work. Your making $5 an hour. Didn't minimum wage go up? If you pay or line co
does not go up, I'd probably move on. I understand right now your probably just getting the experience but you work a whole day and make $40??? I'd be tempted to change jobs soon. I know personally I could not survive on $5 an hour.
Money
What are the chances of making $35K yearly and still having your wits? That is really what I am concerned with. I live in South Florida and am considering this profession. I would like to make enough to supplement husband's income of $85K. However, I don't want to be so stressed out that I can't enjoy life, either. Is there a happy medium here?
money
Those are good ideas.
Its not that I don't have the money, I just have a hard time spending large amounts. I can fritter away $100 here and there at Target and Walmart, but, phew, a $1500 check is hard to write.
We actually have enough money in savings, IRAs and investments to live at our current standard for at least 18 months without either of us working. Not that I would want to do that, but it could be done. So, its not that I don't have the money, its just a matter of spending it. I'm sure you can tell that since we have almost 2 years of living expenses saved up in the bank (and we have about 30-35 yrs to go til retirement), we are kind of tight with spending money.
Thanks for the suggestions though. I do need to have a Yard Sale, as much to get rid of stuff as to get some cash on hand. I have a pile of childrens' clothes to take to the resale shop for some cash too.
Where is the money at?
I was wondering...do MTs make better money working for someone or having a business of there own? Just wondering. I realize being new I will not have my own business for a couple of years but will I be able to make a "living" until then?
Big name=big money when you-sm
can get the same elsewhere at much lower prices. This board and its members often advocate only three schools that charge more than the others and don't offer a lot more. Most companies don't even know these names and could care less as long as you have a certificate and are certified. If you look into these higher priced courses, the only thing different is that they might use the more expensive transcription tapes, that's about it. These courses, all of them, are basically taught by sending you a few books then it's up to you as an individual to make it work. You will see members of the big three schools advertising their wares left and right here and everywhere they see someone looking. They are out to make a catch, so don't be fooled by the nonsense you here about their grads being the only ones being hired out of school. That's total bull and being said their by their little advertising cheerleaders, as well as the owners themselves who have no pride or too much. They order a bunch of books, sell them to you at twice the price and sit back and rake in the profits.
The money isn't what it used to be, and
job security isn't what it used to be.
It might still be a good career for somebody who is especially suited to it. That is, someone who has outstanding skills in written English and has the time and money to to to one of the best schools (Andrews and M-Tec are two two IMO, and cost about $4000. Some people have reported it took them 9 months to graduate, just to give you an idea). He or she must be interested in constantly researching new things and learning every day. You need a great work ethic, especially if you end up working at home. It isn't easy to sit at a computer at home working when there are so many things at home calling for your attention. You need to be able to invest in books/CDs, computers, and equipment when necessary. There are many factors to consider. You should go to Monster.com. I think you can take little tests there to see what kind of work you are suited to. You'll be happier in your work if you choose something you will be good at.
No money for us
Simple....corporate greed. Make more money sending work abroad. It'll turn around, may take a while but once the first big law-suit happens, it'll turn around.
I never said she owed me any money.
nm
Before you spend your money -
Do tons more research before you spend your money, please! I went to MTEC, graduated in 9 months, and have been working from home for more than 8 years now doing acute care. I had recruiters banging down my door to test and was offered positions after every test I took. The little medical backround you already have is nowhere near enough to be an MT, so get a SOLID education so you will not come back here at the end begging for someone to hire you for 2 cents a line. Best of luck!
Your money would be better spent on
coding and billing. The MT profession is making less and less and having to work more and more. A new MT has a hard time finding a job. As far as boredom, it is what it is. If you find sitting for hours with headphones while mumbling baboons try to put a report together entertaining, than this job is for you. If not, select something different. The top schools is where you want to go if you decide, but again, if I could start my career (been in this for 20 years), I'd go with the billing/coding. It can be done onsite or at home, and all practices need these people to bring in the dough. You'll make more money at it anyway especially since new MTs make next to nothing.
My living is a fair wage for the time and effort, but the effort is from having many, many years of experience. A new MT will have to look a lot of words up which takes time away from production.
Good luck whatever you decide.
P/S: EMR will be mandated probably by the year 2015, so if you're young and smart, you'll choose another profession. I hate to be that way but it's the truth.
If I were you, I'd want my money back from whatever MT course you took.
If you've had any decent MT training at all, this shouldn't have been any problem for you.
Don't waste your money. It's ridiculous
to think that you'll get an education for $12.00 or $50.00.
If you are going to invest money in something, invest it in some legitimate tapes at Medword or HPI.
Wasting your money and time
I am a recruiter and Editor and I have not had anyone from PCDI who could pass the test to be hired. I even gave one person a chance because of her circumstances and she couldn't do the most basic of reports. I've had resumes stating "I want an all American account because I have not been trained on foreign doctors." It's a waste of money. They don't prepare you for anything.
No money, wonderful place
I don't believe you have to register to use word help. Response time depends on the question. Some of us can figure out what you mean in minutes and some of us take a while and/or may never come up with anything. It's a great place, though (thanks MTStars!!!). Highly recommend you bookmark it. Even if you feel it might be a silly question, just ask! I was blessed to work in-house my first two years, and I was constantly asking for help! Good luck!
I'll believe it when I hear from others getting their money.
nm
I wouldn't let it rest til I got my money!
That is what the scammers want you to do, so they can get away with it and keep cheating other people. She is asking an honest question that pertains to her problem, while at the same time keeping it in people's minds to look out for people like this.
M-Tech wannabe...wish I could get the money together right now
I just finished 18 months training at a community college to become an MT and I am not marketable. The provided no books, no equipment, and only 3 months of actual transcription practice. It cost me 4 times as much as the M-Tech program and I walked away with nothing...now I'm back at square one. I've researched online schools and narrowed it down to M-Tech, but after reading the great posts about this school, I'm sold. I am not giving up becoming an MT.
but you certainly save money on travel
and perhaps on work clothes/food away from home. When my son got to be about 8, the child care issue was no longer a problem. But when he was little, he would stand by my desk and say "Play with me" if I had no one to take care of him.
.. So others don't waste their time & money on the same course.
x
Pretty good money
You can make pretty good money as an MT, but it takes time. You might be ready posts from people who have only been in the field a couple of years. I read an article recently that gave a pretty accurate account of what can be expected for pay. It was called "How much money can you make as an MT" It was on the articles page of this website www.help4mts.com and there were other articles too if you have not gotten started. There are many factors involved in MT paid, i.e. inhouse, SE, contract, benefits, etc. Good luck.
Thinking about MT as 2nd job - extra money
Hi there - I have a very sound career holding a Management position making great money, however we are trying to pay off bills and I thought I would pick up a second job. A friend told me about being a MT and at first I was kinda excited to start my research, then sites like this (some of the posts) have scared me. HOWEVER there are a good number of success stories. I think I may continue on, as this will not be my main job, just for extra income.
My question for all of you who are certified. I keep reading about the BIG 3 schools. I don't know who they are, but I was going to go to one of my technical colleges in my local area. Is that a no no in the MT world? I mean, it's an accredited school. I'm just scared that when applying for jobs, they will want those that came from the big 3 that you all are talking about.
If anyone can share information I would greatly appreciate it. Thx a bunch!!!
We don't hate our jobs. There's no money in it
anymore now that the corporations have taken us over & are offshoring our jobs. This field used to pay really well, but those days are over & it can be difficult to make minimum wage, especially on VR. Many MTs are trying to re-train to find other careers so they can actually make a living.
proficient transcription...sent them money...will I get work?
I was hoping this would be a great job. Does this company actually give you work? Really worried now. Help!!!!
I also feel the money is slowly slipping away -
I started off being paid on a gross line and making 60K a year. Those accounts dried up. I now struggle to make 25K and I am a fast, accurate MT. I do enjoy the work, but enjoyment does not pay the bills.
Everywhere I have worked, coders made more money than MTs.
nm
Yes, new MTs have value. Doesn't mean companies should lose money on you, though.
There's an extremely high cost to mentoring/training new MTs. You've come into MT work with the wrong expectations, I think, regardless of where you got your direction.
Not much money to be made for new grads at MedQuist.
Guess it is pretty profitable to get rid of experienced MTs and then fill their spots with new grads at half the rate.
Don't waste your money on Penn Foster.
go to M-TEC, Andrews, or Career Step. These grads regularly finding jobs right after graduating. Most online companies that allow you to work from home will not hire grads from Penn Foster. You may be able to find in-house work, but since you stated your goal is to work from home, you should check out the 3 schools listed above. Otherwise, you are just wasting you money.
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