Pros
Okay, I was definitely hesitant about this at first. I have been looking into different side jobs that I can do from my house or from my college campus and I've found a Lot of scams that try to present themselves as real opportunities. I really like doing transcription work and thought I'd give Transcribeme a chance, and they are actually legit! They don't ask for a lot of personal info unless you want to move up in the job (and even then it's just a photo, birth name and DOB). There's not any type of interview process, which is why I was hesitant, but you take two exams: one to qualify for the job and one to prove you understand English grammar and the style of transcribing that they want. Once you pass you can start taking jobs that are usually about 2-4 min long and for the most part it's easy, simple, and fun. Great for when you're bored at school between classes or have some extra free time at home. What really proved to me that this was something legitimate and was also just really helpful, was Yammer, which is the social media platform they use. They'll send you an invite when you're hired and all of the employees of TM are signed up and there are groups you can join to talk to each other about questions you have or just general fun or interesting things. Seeing my actual "coworkers" was really cool and any questions you may have about the job can be answered there.
Cons
Many times when I have free time and want to do some work there won't actually be anything available. You just have to keep refreshing the page and hope to get something. Sometimes that takes a few minutes, but sometimes can be hours or days long. This job is not super steady when doing general transcription because of this. But you can take exams and move up to other positions that give you more work. Also, the pay rate is per audio hour, like a lot of other reviewers said. This can for sure add up, but depending on how slow you are (which you probably will be if you're new. I spent 40 min on a 2 minute audio clip in my first few days), the pay may actually average to around $1 or $2/hour, which is not going to sustain you or your family. I've heard of people making a living out of this but it takes a lot of work and a lot of time.