1. How do writers make money?
You sign a contract with a publisher. In exchange for signing over the North American and English language print rights to your book and possibly other rights, as well, you are paid one of three ways:
- flat fee: a set amount of money upfront that’s yours to keep. The amount does not change no matter how well the book sells. For example, if your flat fee is $10,000, the amount remains the same no matter if the book sells 10 copies or 10 million.
- royalties: a small amount paid to you for every book sold.
- advance against royalties: a sum of money upfront to you with the promise of more (royalties) should the book sell well.
2. Which of the three methods above is most desirable?
An
advance against royalties. It’s probably the most desirable, and it is by far the most common.
