Paid surveys are being promoted as an easy way to make money online. Some ads promise you up to $250 per hour for taking paid surveys. Are they realistic? Can one really expect to earn that much money from online paid surveys? Let us find out the answers to these questions.
Such advertisements are usually put up by paid survey database companies like Surveyscout. They charge you for giving access to a database of market research companies, often in the range of $30 to $60. They typically have 400 to 500 survey companies in their database.
Is it worth paying these companies to get access to such a database? Whatever information you get from these companies, you can get for free on the internet on many free online survey sites. Secondly, these survey database companies do not send any surveys by themselves, and you have to join each market research company in their database individually to get any surveys. In addition, most of the survey companies in their databases are good for nothing. Only about 40 to 50 survey companies are really worth joining.
What does this mean? If you are planning to try online surveys, you never have to pay anyone. You can get the list of the best survey companies for free on the internet. You can join them and get started.
Now let us take a closer look at on the rewards offered by paid online surveys. Survey companies can be divided into those which reward you with cash for each survey, those that give you points which can be redeemed for cash, and those which enter you into sweepstakes or prizedraws.
Survey companies that pay cash give $1 to $20 or more per online survey depending on many factors. This group includes many of the best survey sites like American Consumer Opinion Panel, Surveysavvy, Ciao Surveys, Greenfield online(Gozing) and Pinecone Research. You can expect to get 1 to 4 surveys per month from each site.
Surveys that reward you with points let you accumulate reward points which you can later redeem for cash or gifts. Some of the most reputed market research companies like Globaltestmarket, Opinion Outpost, NFO Mysurvey and Lightspeed Research reward you in this way.
Yet other companies enter you into draws for cash or gifts as reward for taking surveys. Although many people don't like this form of reward system, your chances of getting the prize is quite good as the pool to select the prize winners is usually small. Some good survey companies that follow this reward system are Synovate, NPD Research, NOP World (Surveys.com), ECN Research and Nielsen Netratings.
Another important factor which determines how much you can earn from online surveys is your profile, particularly your country. Generally residents of the USA and Canada can expect to make more money from paid surveys, as there are more market research companies operating in these countries. Also they get more frequent surveys. However, participants from other countries can also hope to make some good extra money from paid online surveys.
All said and done, the maximum earnings an average person can expect from doing paid surveys is not more than $200 to $300 per month. This can be a good source of extra income for some people. But the claims that paid surveys can make you rich or replace your real job are largely unfounded. Hence, it is always best to stay with free paid surveys.
Shaj M is the owner of the free survey resources site Internet Paid Surveys. The site has separate sections for USA, Canada, UK, Australia and rest of the World, each of which reviews free paid surveys for that particular country. For example, USA Surveys section features more than 50 free survey companies accepting members form the USA.