A lot of writers would like to get their first book published by a New York house. There is good reason for that. It stamps your ticket. It makes you feel as if you’re on the playing field with the big boys. When your spine reads Macmillan, or any of the other big houses, your book must matter to the world.
But, there is only one solid thing you can count on when you sign a deal with a publisher, and that is the advance. Many seasoned writers will tell you it’s the only money you can be certain you’ll ever see. They are right.
Let’s break down the numbers. On a hardback book, the royalty is usually 10%, giving the writer approximately $2.50, minus the agent’s 15% commission. (Never fret about an agent’s commission. They are your strongest ally. They are your warrior. Your cheerleader, too.) Now, back to numbers. On trade paper the royalty is usually 7% on a price of $14.95, yielding about $1.05 for the writer.
E-books are a different story. The writer receives 25% of what the publisher gets. If the e-book sells for $12.99 (the publisher sets the price, you do not), the publisher gets about $4.55 from Kindle, and the writer gets about 25% of that, which comes to about $1.15. And all of these royalties go to paying off the advance. After that, you will see income if sales continue.
Will publishers pay for your marketing? A bit. Set up a tour for you? Unlikely. So, why consider going through the stress of finding an agent, writing proposals, living through the nail-biting of wait, wait, wait? Should you trash that dream and go right to self-publishing?
That’s a question only you can answer. But, yes, with print publishing you do get an advance. However small it may be, getting that check feels good. And all those reasons we listed in the first paragraph? They are emotional, mostly, but they are real. It’s great to go to a writer’s conference and sit on a panel with writers you’ve been reading for years.
What are people in your position doing? How are decisions being made? How do you feel about the trade-offs that come with that sure thing – the advance?
Stay with us. Our next mailer may help you clarify your own goals when you hear the stories of professional writers and newbies, all of them standing in the middle of the publishing revolution.
About Meredith and Win Blevins
Thank you for writing this article for I found it to be very timely and very informative.
Linda, Thank you for taking the time to write to us. We hope to keep giving you more of what you want and what you need.
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Best to you!
Meredith and Win