According to the Bureau of Labor Statistics, the mean annual medical transcriptionist salary is $35,580. in 2018, the vast majority of medical transcriptionist earned $11 per hour, with the top 10% making as much as $23 hourly. This 90^th percentile had a weekly wage of $923, a monthly salary of $4,000 and a total annual salary of $48,000.

The 50^th percentile (close to the median), makes a weekly wage of $665, a monthly salary of $2,883 and an annual salary of $34,600.

The top paying industries can make the medical transcriptionist salary reach $73,000 per year. With an hourly wage of $35.19 and a monthly salary of $6,100, the Management of Companies and Enterprises ranks first as the best-paid industry for medical transcriptionists.

Industry	Hourly wage	Monthyly Salary	Annual salary
Management of Companies and Enterprises	$35.19	$6,100	$73,200
Insurance Carriers	$21.44	$3,717	$44,600
Specialty hospitals, State government owned	$20.63	$3,575	$42,900
Insurance Carriers and Related Activities	$19.62	$3,400	$40,800
Home Health Care Services	$19.38	$3,358	$40,300
Nursing and Residential Care Facilities	$19.28	$3,342	$40,100
Other Insurance Related Activities	$19.04	$3,300	$39,600
Specialty (except Psychiatric and Substance Abuse) Hospitals (including private, state, and local government hospitals)	$18.85	$3,267	$39,200
General Medical and Surgical Hospitals, State government owned	$18.75	$3,250	$39,000
Medical and Diagnostic Laboratories	$18.75	$3,250	$39,000

Medical transcriptionist salary by location

The medical transcriptionist salary varies according to state. The weekly wages in the top ten highest paying regions for medical transcriptionists range between $738 – $894/week. The District of Columbia, Massachusetts and California are the most profitable areas for medical transcriptionists to work in.

State	Hourly wage	Monthly salary	Annual salary
District of Columbia	$22.36	$3,875	$46,500
Massachusetts	$22.07	$3,825	$45,900
California	$21.30	$3,692	$44,300
Connecticut	$19.57	$3,392	$40,700
Alaska	$18.75	$3,250	$39,000
Hawaii	$18.75	$3,250	$39,000
New Jersey	$18.70	$3,242	$38,900
Colorado	$18.70	$3,242	$38,900
Delaware	$18.46	$3,200	$38,400
New Hampshire	$18.46	$3,200	$38,400

 

The lowest paying states have an hourly wage that ranges between $13.61 – $15.10. The worst medical transcriptionist salaries are from Utah ($28,300), West Virginia ($29,300), Alabama ($29,700), Arkansans ($30,200), Louisiana ($30,600), South Dakota ($30,600), Mississippi ($30,800) and Oklahoma ($30,800).

Freelance medical transcriptionist salary

Medical transcriptionists enjoy flexibility since they can work in an office as well as at home. An independent medical transcriptionist will be able to find work from heath care offices as well as companies that are in charge with providing the health industry with transcriptions.

The medical transcriptionist salary reflects production and working hours. A skilled medical transcriptionist working from home with a CMD certification will be able to provide their services on a contract and charge on an hourly basis. Experienced freelancers that have a constant work influx and set a profitable hourly wage are able to earn between $35,000 – $60,000 per year.

The medical transcriptionist salary is influenced a several important factors: employment type (freelance, part time, full time), employer, geographic location and skill. The level of production is tightly linked to the paycheck since each new contract increases the monthly and annual salary.

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