Wage-and-salary medical transcriptionists had median hourly wages of $15.41 in May 2008. The middle 50 percent earned between $13.02 and $18.55. The lowest 10 percent earned less than $10.76, and the highest 10 percent earned more than $21.81. Median hourly wages in the industries employing the largest numbers of medical transcriptionists were as follows:| Medical and diagnostic laboratories | $17.26 |
| General medical and surgical hospitals | 15.88 |
| Outpatient care centers | 15.46 |
| Offices of physicians | 15.02 |
| Business support services | 14.52 |
Compensation arrangements for medical transcriptionists vary. Some are paid on the basis of the number of hours they work or the number of lines they transcribe. Others receive a base pay per hour, with incentives for extra production. Employees of transcription services and independent contractors almost always receive production-based pay. Independent contractors earn more than do transcriptionists who work for others, but independent contractors have higher expenses than their corporate counterparts, receive no benefits, and may face a higher risk of termination than do wage-and-salary transcriptionists.
