In order to make a career as a writer, a person needs to possess a pretty unique toolkit. Having a passion for the craft, a vast imagination and creative drive are all a good start. A writer also needs the ability to conduct research, switch perspectives, be mindful of personal biases, think critically, and communicate clearly, as well as practicing self discipline and pragmatic discernment.
On a good day, I possess three of these things. This is why I never ever publish on the same day I write; my brain needs time to switch gears from free-flowing creative mode to cut-throat edit mindset. There’s also the shameful amount time lost to the oh-so-delightful procrastination-dance which all writers seem to intuitively know the steps to. Due to all those moving parts, like many writers nowadays, I also have other jobs in order to put dinner on the table.
But who hasn’t dreamed of writing a book which could be read by hundreds if not thousands of fans? At some point, every fledgling writer gets lost in that daydream. Imagine being part of that elite club of legends like Steven King, James Patterson, or Haruki Murakami? Inevitably, this fantasy tends to lead us to gleeful pondering about the possibility of vast wealth and asking, “How much do authors really make?” Personally, I tend to do get lost in this vision when I’m up against an article deadline and have zero ideas, or when I’m putting on my uniform for my day job…. Huh- I should probably tell my therapist that.
In case this vision of making a good living as an author is one you also entertain, here’s some information about how publishing fees work and the pros and cons of the different avenues.
Traditional Publishing Route
When a writer signs a publishing agreement, the author or their agent usually negotiates a royalty prepayment. This amount refers to the amount an author is paid from the publisher in exchange for the rights to their books. Royalties are calculated and directly linked to the percentage of book sales. Royalty rates vary, but on average, traditional publishers offer; 15% for hardcover sales, 7.5% for paperback and 25% for Ebooks and audiobook sales. The author has the opportunity to earn more with Ebooks and audiobooks as there are less overhead costs, such as paper, printing and shipping.
For first-time authors, a traditional publishing house may offer an advance of $1,000-$10,000 and 5-18% royalties once they “earn out” their advance; meaning the royalties are paid after the book has earned an amount over the advanced payment figure. A book advance is a not a separate additional payment to an author, rather its funds paid to the author so they have something to live on while they focus on writing. If the book doesn’t earn back the advance, the author isn’t required to pay the overage back to the publisher, except in circumstances where the contract had been breached by the writer.
Sometimes the author sells the book “flat-out” and forgoes the advances and royalties. According to McZell Book Writing, if the book is “sold” for a certain amount, that figure is prepaid and not a flat-rate purchase price. Prepaid payments are usually offered in three installments; when the book contract is signed, when the publisher accepts the final copy of the manuscript, and after the book is published.
Due to the variety of genres, types of book formats, the individual differences between authors, countries and publishing houses, there are variations to this practice. Some authors receive any upfront payments, and some better established writers may chose to opt for a lump sum instead of royalties as they earn more this way.
Self-Publishing Route
The Alliance of Independent Authors (ALLi) is a professional association for authors who choose to self publish. Founded in 2012 by Orna Ross and Philip Lynch they sought to create an international, nonprofit organization which connects the world’s best indie authors, advisors, and services.
“Before going indie” Ross shares, “I published fiction through Penguin, and non-fiction and poetry through smaller publishers, in the only way that was then available: by exclusive contract. I appreciated my publishers but a generous contract from Penguin was not the golden ticket I had thought it would be in the days when I was writing my first novel. I was particularly frustrated by not being in the room when the big marketing decisions were being made.”
ALLi conducted a recent survey of its authors exploring the income of self-published authors vs. those who go the traditional route. Key findings from the survey showed:
- In 2022, the median income of “primary income” self-publishing authors (those who spend more than half their working time on writing and publishing activities)was $12,749.
- The average income was over $80,000.
- Almost a quarter had not yet started to earn, bringing in between 0 and 1K.
- Almost half of the respondents (43.8%) reported over $20k revenue.
- Some 28% earned $50k+ and almost a fifth ran six-figure publishing businesses.
The survey, which received about 2,200 respondents, found that the average income for self-published authors has increased by 53%. According to the data, this figure has now surpassed authors who go the traditional publishing route in terms of earnings.
Just like there are multiple genres and formats to storytelling now a days, there’s truly no one right way to go about publishing, and it’s worth considering all your options.
There are many positives to working with a traditional publishing house; advertising, vast reach, prestige, and the ability to collaborate with a professional support team. However, this can be very difficult club to get into. C. S. Lewis, author ofThe Chronicles of Narnia, faced an astonishing 800 rejections before he got published and Stephen King’s best seller Carrie was turned down 80 times by publishers. And yet, both works have now been translated into hundreds of languages and adapted into movies.
An obvious benefit of self-publishing is the much higher royalty rate as well as maintaining full control on your baby. This can be a double-edge sword, however, as Author Lori Lesko poetically puts it, “The good news about self-publishing is you get to do everything yourself. The bad news about self publishing is you get to do everything yourself.”
There is always the rare case of someone just landing it big. Sometimes a person has a truly inspirational idea at exactly the right time. After reading only two pages of Emma Cline’s luminous novelThe Girls – a story about young women flocking to a Manson-like cult figure- Random House editor Kate Medina got up and shut her door. Medina recounted for Entertainment Weekly, that she told her staff, “I’m not doing anything else. I’m not talking to anybody. I’m just reading this book”. When Medina turned the last page, she instantly offered Cline a three-book, $2 million deal.
That’s my plan, I rarely do something the traditional way. I’d like to say that’s because I’m an innovative-creative-maverick… but honestly, it’s mostly because I’m often clueless on how a person typically “does a thing.” But that’s the great thing about working in the arts, creativity knows no bounds and there’s no harm is having a vision, and giving it a shot to see what happens. Nothing will ever happen if you try nothing, so it’s always worth trying something. Ironically and beautifully, this is this how I ended up with this job as a writer.
“Writing isn’t about making money, getting famous, getting dates, getting laid, or making friends. In the end it’s about enriching the lives of those who will read your work, and enriching your own life as well. Writing is magic, as much the water of life as any other creative art. The water is free. So drink. Drink and be filled up.” – Steven King
Angela Waterfield
Writer| angela@goodereader.com| Website| + posts
An avid book reader, Angela Waterfield is new to the world of e-Readers. She has a background in education, emergency response, and fitness, and loves to be outside. She has contributed writing to The London Free Press, The Gazette, The Londoner, Lifeliner, and Citymedia.ca.
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FAQs
How much do authors actually make? ›
Self-published authors can earn 40% to 60% royalties for the selling price of a book, while traditionally published authors typically earn 10% to 12% royalties. First-time authors willing to publish traditionally will receive a prepayment. This is usually $10,000 (not so much for first-time authors).
Is it realistic to make money as an author? ›How much can authors expect to earn from their books? A first-time author with a traditional publishing deal might expect an advance of $1,000-$10,000 and 5-18% royalties once they “earn out” their advance. Self-published authors do not receive advances, but their royalties can reach up to 70% for ebook editions.
Can authors make 100k a year? ›Yes, you can make $100,000 per year as a writer.
The chances of earning over $100k for a writer are actually pretty good because the highest-paid writer positions typically pay at least $102,000 per year. The average annual salary is $65,718 for writer jobs.
There are, of course, outliers. The top 2% or so of authors make a good living and the most successful authors – including self-published authors – make a tremendous amount of money.”
Is it profitable to write a book? ›Is writing a book profitable? Yes. If you want to make money writing books then you need to start treating writing like your full-time job. A lot of work goes into becoming a successful author, especially if you want to self-publish, as you'll be responsible for everything yourself.
Is it hard to sell a million copies of a book? ›Of the 500,000+ books that are published each year, less than 20 books sell a million copies (and that includes fiction novels!) Upon hearing that, you might think your odds are 1 in 25,000… But your odds are even lower than that.
Can you still make a living as an author? ›Worry not, fair writers, because you can make a living as a writer. It just takes some understanding and, like all careers, dedication and hard work. In this blog, we're going to talk about what it takes to turn writing into your career.
Do self-published authors make money? ›The survey found that the average income for self-published authors rose 53% last year over 2021, reaching a median of $12,749, a figure higher than those of authors at traditional publishers. The most recent Authors Guild survey in 2018, for example, found the median income to be $6,080, down 24% from 2014.
Can being an author be a side hustle? ›The flexibility and sheer amount of opportunity that comes along with freelance writing makes it a fantastic side hustle for anyone who enjoys to write. It can be worked into any college student's schedule and can be a great side income for everyone looking to accelerate student loan pay-off.
What are the odds of making it as an author? ›Within the book publishing industry, it is agreed that the odds of an author getting their work published stands between 1% and 2%. Despite this low number, more than 95% of manuscripts received by publishers and agents are below the level the standard required.
How many books to sell to make $100,000? ›
To make $100k with those 24books, you'd need to sell 174 copies of each book each month. After the third year, you'll have 36 books published. To make $100k with those 36 books, you'd need to sell 116 copies of each book each month.
What is the success rate of self publishing? ›Independent authors who sell their books on their own websites receive up to 96%. The average self-published book sells 250 copies. The average self-published author makes $1,000 per year from their books. 33% of self-published authors make less than $500 per year.
How hard is it to be a successful author? ›While the path to becoming an author is getting more independent with the introduction of self-publishing, becoming a successful best-selling author remains difficult. There are approximately 600,000 to 1,000,000 books published every year in the United States, and only a small fraction make it to any bestseller list.
How many books sold is considered successful? ›Want to hit top 10? You'll need to sell roughly 300 for print, or 2,000+ copies for combined formats. Those numbers aren't exactly set in stone, but they're a pretty close approximation. To get onto Amazon's Bestseller Top 100 radar across all titles you're usually looking at about 1,000 sales of your book.
What is the success rate of an author? ›0025% of authors are successful (sell at least 1000 copies).
Can you become a millionaire by writing one book? ›Writing a novel can make you rich, but only a small percentage of writers get really rich from their writing. Most authors do not survive on royalties from book sales alone. Many retain other jobs to make ends meet. But every now and then, a writer will break through to earn big money.
Can you become a millionaire by writing a book? ›Be prepared to work long and hard
Consider the example of Stephen King, who is certainly a millionaire writer. He is also one of the most hardworking writers, and has published scores of best-selling books. It will usually take several books for a good writer to hit the first million.
When all things are considered, the most popular book genre depends on the format and situation. The bestselling book genre is romance and the most profitable fiction book genre. Religious & inspirational books are the most popular non-fiction genre, whilst thrillers are the most popular audiobooks.
How many copies do first time authors sell? ›Traditionally published books sell around 3,000 copies on average, with only 250 of those sales in the first year. It's rare that books sell over 100,000 copies and even rarer to sell more than a million.
Why is it so hard to sell books? ›Unfortunately, book sales never come that easy for anyone. It is hard to sell a book if you haven't correctly identified your target audience and marketed to them appropriately. Authors also face challenges with book sales if the book is poorly priced or its cover isn't appealing.
How many copies does a first book sell? ›
The average traditionally published non-fiction book sells about 250-300 copies in the first year, but when we manage a book launch, our target is to sell 1,000 copies in the first 3 months. Why 1,000? Because at that number of sales, a book has the momentum it needs to keep spreading by word of mouth.
Are authors in high demand? ›Job Outlook
Employment of writers and authors is projected to grow 4 percent from 2021 to 2031, about as fast as the average for all occupations.
There are currently an estimated 131,200 writers in the United States. The writer job market is expected to grow by 7.6% between 2016 and 2026.
Am I too old to become an author? ›The ages span from 17 to 40 and beyond. Some writers begin early in life, others late. There isn't only one path to artistry—that's what makes it artistic. Learning how to write boils down to three factors: figuring out what kind of writing you want to do, sitting down to write, and getting appropriate feedback.
How do first time authors make money? ›A publisher pays authors book royalties in exchange for the rights to publish their work in book form. Royalty rates are made up of percentages of book sales and they are entirely negotiable, though some publishers do have standard royalty rates that they try to adhere to for the majority of their book deals.
Did Stephen King self-publish? ›Stephen King is a well-known author and ended up self-publishing a book on his own in 1960. Named “People, Places and Things”, this book was published by Triad and Gaslight Books, who is his own publishing company.
Should a first time author self-publish? ›If you want to get your book to market as fast as possible, self-publish your book. If you want to reach the most readers, learn how to start building your author platform because that's the key to selling books whether you self-publish or traditionally publish.
Do authors make passive income? ›Writing a book is an amazing experience for several reasons. One of the main rewards is being able to share your ideas or knowledge with the world. Art, after all, is made to be shared. But one of the other major appeals of writing a book is that it can provide passive income.
How much do barefoot writers get paid? ›How Much Do Barefoot Writer Jobs Pay per Hour? $17.07 is the 25th percentile. Wages below this are outliers.
Is becoming an author a good career? ›Although only some authors become world-famous for their work, many sell their writing through various formats and earn a steady wage, making a lasting career out of their talent.
How many rejections do authors get? ›
Author Kate DiCamillo racked up 473 rejection letters in just six years before striking a publishing deal for her first novel, Because of Winn-Dixie. Reportedly, literary agents reject 96% of writers.
How hard is it to be a full time author? ›Becoming a full-time author involves a great deal of self-discipline because you work for yourself and can easily get distracted. You will need to promote and market your books constantly to keep them alive in the bookseller algorithms, and that takes both time and treasure.
What are the odds of writing a bestseller? ›Writing a bestselling book or novel can make you famous, but it's unlikely. Only a handful of books become bestsellers, and fame doesn't always come with it. According to the New York Post, the chances of becoming famous are 1 in 62,986.
What is the average book deal for a first time author? ›Just don't knock a nice deal, especially as a debut author. You're more likely to earn out sooner and start raking in that commission. The vast majority of debut novels sell for less than $50,000, with most going for under $25,000.
Who is the richest writer in the world? ›1. J.K. Rowling. British author Joanne Rowling, also known as J.K. Rowling, is the richest author in the world with a net worth of $1 billion. Rowling is the author of the hit children's fantasy series "Harry Potter." The seven-volume series sold over 600 million copies and has been translated into 84 languages.
How many writers actually finish a book? ›Completing a book requires time, dedication, and brain power, as does any task worth doing. Did you know that 97% of people who start to write a book never finish it? That's a pretty staggering statistic. Out of every 1,000 people that set out to do so, only 30 actually complete the task.
Can you live off self-publishing? ›Being a successful self-published author clearly requires a huge time investment. But despite the low odds, and the enormous amount of work involved, it can be done. And with the right combination of careful marketing, hard work, and (of course) good stories, it has been done.
How hard is it to break into publishing? ›Publishing is a notoriously hard business to get into, so you'll need to be at your very best to get a job, but it's most definitely worth it.
Is it smarter to self-publish? ›For 97% of authors, the answer is very clear: self-publishing is the right choice. For the other 1% of authors, the answer is very clear in the other direction: traditional publishing is the better choice.
How long does it take the average author to write a book? ›How long does it take to write a book on average? The average time to write a book for most authors is 180 days, or 6 months, more or less. Usually, it takes authors anywhere from 4-8 months to complete a book.
Do authors make a good living? ›
Authors can expect to make a full-time living provided they have multiple books, know how to market them well, and an active, engaged fan base. There are a ton of factors that play a role in how much authors make in a year, including books sold, royalty rate, and book printing costs.
Is being an author stressful? ›Because writing is hard work. Sure, it's not physically hard but your brain uses a lot of energy and we have not evolved to spend hours a day trying to produce words from our heads. But there is a difference between being tired and feeling fatigued, stressed and on the way to burnout.
How many books to sell to break even? ›For a book to be commercially viable, it needs to sell over 5,000 copies. The more frightening statistic is that 86% of books published sell less than the magic 5k break-even number. The fact is, most books don't sell a lot of copies and don't make any money.
How many books does the average author sell on Amazon? ›Some research shows that 250 to 300 books per year is pretty average. However, as an indie author, you can expect to earn much more in royalties per book than you would if you went the traditional publishing route.
How many books need to be sold to make a profit? ›A typical book author barely makes more than minimum wage. You receive an advance and 10% royalties on net profit from each book. If your book retails at $25 per copy, you would need to sell at least 4,000 copies to break even on a $5,000 advance.
What is the average income of an author? ›Author salaries typically range between $51,000 and $118,000 a year. The average hourly rate for authors is $37.68 per hour. Location, education, and experience impacts how much an author can expect to make. Authors make the most in Massachusetts, California, Vermont, North Dakota, and New Jersey.
How old is the average author? ›Author demographics
Within the US, the average age of an employed author is 42 years old. As of 2021, 50.45% of US authors are women and 49.55% of US authors are men.
The average salary for authors is $43,603 per year . Part of an author's salary includes advances, which are payments they receive early in the publishing process. Advances help authors attain income before the book is available for purchase. Typically, publishing companies subtract advance payments from royalties.
How much do authors make for a bestseller? ›How much do authors make for a bestseller? The amount bestselling authors make depends on their royalty rate for their books and the amount of books they sell. Traditionally published bestselling authors usually earn a 10% royalty rate, whereas self-published bestselling authors make a 60% royalty rate.
How much do authors make when their book becomes a movie? ›And of course, that can get complicated, which we will not address here. Although authors typically earn $25,000 to $50,000 for TV movie adaptations, really fortunate authors can rake in millions for blockbuster films, especially successful franchises.
How much does the average self-published author make? ›
The survey found that the average income for self-published authors rose 53% last year over 2021, reaching a median of $12,749, a figure higher than those of authors at traditional publishers. The most recent Authors Guild survey in 2018, for example, found the median income to be $6,080, down 24% from 2014.
Is being an author a good career? ›Although only some authors become world-famous for their work, many sell their writing through various formats and earn a steady wage, making a lasting career out of their talent.
How do you sell your book to Netflix? ›Pitching an idea to Netflix
If you have an idea, game, script, screenplay, or production already in development that you'd like to pitch to Netflix, you must work through a licensed agent, producer, attorney, manager, or industry executive, as appropriate, who already has a relationship with Netflix.
The median guaranteed total pay for a screenplay deal was $325,000, with a maximum of $5 million with Netflix. This is higher than the first draft median for traditional studios of $293,750 for a one-step deal or $262,500 for multiple guaranteed steps.
Can you make a living self-publishing? ›Being a successful self-published author clearly requires a huge time investment. But despite the low odds, and the enormous amount of work involved, it can be done. And with the right combination of careful marketing, hard work, and (of course) good stories, it has been done.
What is the success rate of self-publishing? ›Independent authors who sell their books on their own websites receive up to 96%. The average self-published book sells 250 copies. The average self-published author makes $1,000 per year from their books. 33% of self-published authors make less than $500 per year.
Do you make more money with a publisher or self-publishing? ›Thankfully, self-published books have a much, much higher royalty rate than traditional publishers because you get to keep anywhere from 50-70% of your book's profits. With a traditional publisher, they take much more and you only end up with 10% maybe 12% after years of proving yourself as an author.
Can you live off of being an author? ›Authors can expect to make a full-time living provided they have multiple books, know how to market them well, and an active, engaged fan base. There are a ton of factors that play a role in how much authors make in a year, including books sold, royalty rate, and book printing costs.
What are the odds of becoming an author? ›Within the book publishing industry, it is agreed that the odds of an author getting their work published stands between 1% and 2%. Despite this low number, more than 95% of manuscripts received by publishers and agents are below the level the standard required.