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Thursday, October 21, 2010

The Reality Of Author Advances

We all dream of the big six figure advance and hope that one day it will be handed to us. Unfortunately the reality is that with the tumultuous state the publishing industry is in, the six figure advance has become extremely rare. Brace yourself for a much harsher reality of four or five figures.

But there is good news! Smaller advances means you'll make them back for your publisher faster which is a very good thing. When you make back your advance for your publisher they are more likely to buy your next book. That also means you'll start to get royalty checks faster, which is where you're going to make your real money anyway, as long as you're prepared that is.

Smaller advances mean less money for marketing as well so be ready to do a lot of your own promoting. But that is a post for another day! A good friend of mine, Lindsey Edwards gave a fantastic link on her blog to someone who researched average advances. Check it out here, but brace yourself.

13 comments:

  1. Oh at this point I'd just be happy if someone was interested. Guess I'm not the best business woman. That's what the agent's for. ;) LOL

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  2. LOL! I know how you feel Lisa. There comes a point where you just want to hold your published book in your hand. Thankfully there are agents out there looking out for us! Now to snag one...

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  3. Wow, some of those are really low. Still, I guess getting your foot in the door is the main thing at the beginning.

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  4. They really are aren't they Elle? Frightfully low. But you're right, getting in the door is the important part. Once you can do that if your book sells well advances should improve!

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  5. I think a lot of writers out there don't realize that they won't be getting those 6-figure advances. But your argument is right on. Many authors we adore may not make enough money on the first two or three books before they can actually be full-time writers. Some; never.

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  6. That's so true Lorelei. It's a grim reality we must face, the sooner, the better.

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  7. Thanks for posting the link, Heather - some of those were lower than I expected by there were some quite a bit higher than I would have thought for a debut novel. Good to know!

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  8. Those numbers are sobering! I think this is a really important part of the writing puzzle that we should all have in our minds from the get-go, though. Otherwise, we won't be realistic, which can translate into huge disillusionment down the line. We can and should shoot for the stars, but we need to be writing for the right reasons. Thanks, Heather.

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  9. You're welcome DL, it was surprising wasn't it?

    I know what you mean Linda, sobering is a great way to put it. While there are still those that make the six figure advance, it is far from the norm. And you're right, this should help prepare us for that and make sure we're writing for the right reasons!

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  10. Heck, I'd be happy with just about any advance! I know that most of us are not it this for the money, because we'd be disappointed. It's a good thing we write for the love of it!

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  11. I know the feeling Julie! You're right, writing for the love of writing is the way to go.

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  12. I agree that someone being interested and holding your published book in your hand is priceless. And yes, Julie, it IS a good thing we write for the love of it! :)

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  13. It truly would be Morgan! While I embrace the digital rise I still long for the physical novel. And I so agree with you both, the love of writing should be the force that drives us all!

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