How Much Money Does a First Time Novel Writer Make?
Novelist pay has a wide variety of factors affecting the outcome. A first-time novelist, if lucky enough to secure a contract, should get an advance and then a promise of royalties if and when the novel outpaces the cost of publication, which doesn't always happen. Out of that money, however, the novelist must pay her agent, if she has one, which reduces her net income. When all is said and done, first-time novelist pay is unpredictable at best.
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Getting Published
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Novelists traveling the traditional publication route must first attract a publisher. Though it is sometimes done between the publisher and writer, it more typically involves a literary agent representing the writer. Other novelists get published using a vanity press, or self-publishing, which involves the novelist paying for each copy of the book that is printed, then selling it for more than the printing costs and keeping the profit.
How Calculated
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First-time novelists going the traditional route generally get an advance against future royalties. This means the publisher takes an educated guess about how many copies of the book it believes will sell and calculates the profit on those sales. It is from this number that the publishing house determines how much of an advance to offer the novelist. Included in those calculations are genre types, current trends, past performance and future books promised by the same writer.
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The Offer
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Offers of advancements can range from a token amount to show good faith to a huge check because the author is already well known. Novelist Justine Labalestier reports on her website that her first novel garnered a $1,000 advance check in 1962. Though traditional publishing houses typically offer between $1,000 and $10,000 today, there are exceptions. as was seen when Stephenie Meyer pulled in a $750,000 advance for her three-book Twilight series. It was her first attempt at publication. If the author has a literary agent, the agent is sent a percentage of that advance as his payment for promoting and selling the book.
Royalites
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Once the advance is out of the way, the book is published, distributed and marketed. The sales are tracked and if the book sells enough copies to pay back the cost of publication and the author's advance, royalties kick in. Royalty payments are usually twice a year, however, some some publishers pay them out quarterly according to Labalesteir. The publishing house takes a percentage of the royalties as it's payment and if the author has an agent the author is sent a percentage of the royalties as payment. the balance is sent to the novelist. Royalties can pay out as little as $100 for a year or as much as multiple millions of dollars depending on the book's success.
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References
- Photo Credit writing book image by AGphotographer from Fotolia.com
