• Skip to main content
  • Skip to after header navigation
  • Skip to site footer

The Steve Laube Agency

Helping to Change the World…Word by Word

The Steve Laube Agency

The Steve Laube Agency

Helping to Change the World Word by Word

  • Home
  • About
    • Who We Are
    • Frequently Asked Questions
    • Interview with Steve Laube
    • Statement of Faith
    • Terms and Conditions
    • Privacy Policy
  • Guidelines
  • Authors
    • Who We Represent
    • Awards and Recognition
  • Resources
    • Recommended Reading
    • Christian Writers Market Guide Online
    • Christian Writers Institute
    • Writers Conferences
    • Freelance Editorial Services
    • Copyright Resources
    • Research Tools
    • Selling What You Write
  • Blog
  • Contact
  • Twitter
  • FaceBook
  • RSS Feed
  • Get Published
  • Book Proposals
  • Book Business
  • Writing Craft
    • Conferences
    • Copyright
    • Craft
    • Creativity
    • Grammar
  • Fun Fridays
Home » rumors

rumors

Your Money is Your Business or Keep a Lid on How Much Money You Make

By Steve Laubeon March 5, 2018
Share22
Tweet4
21

I think it is a huge mistake to reveal how much money you make as an author. The details of your royalty advance on your latest deal should not be shared with other authors. It is similar to finding out the salary of the co-worker in the office cubicle next to yours. When I was a retail store manager we had major problems when salaries were discovered…I had to stop a near fist-fight between two people who had been friends.

Money Can be a Measure of Worth

Money is viewed by many as a measure of worth; i.e. a measure of the worthiness of your work. Consequently if you contract for a $5,000 advance with AlphaGammaDelta publisher and a month later, your best writing friend, who is at the same stage in her career as you are, contracts for a $8,000 advance with the same publisher for a similar project…what is your reaction? Sure, at first, it is excitement and joy for your friend. But later, in private, you will naturally begin to wonder about your publisher’s commitment to you. You think, “They must like Sally better than me!” Jealousy and bitterness can set in.

I’m not saying that this will happen to you, but I caution you with every ounce of my being, be very careful about ever revealing monetary details of a book contract with anyone. It can become a form of gossip that does no one any good. I know of an e-mail trail among authors that was very free with this kind of information and consequently there was tension towards a particular publisher for not paying everyone the same. This is unreasonable and unfair…and doesn’t help anyone.

Over the years I’ve seen a few thousand book contracts. Those deals have landed all over the board. The timing of a publisher’s economic situation and certain management directives can change quarterly (even weekly!). The relationship the author has with the publisher, the relationship the agent has with the publisher, the perception of value that the publisher has of a project… They all influence each situation uniquely.

But we tend to compare contracts as if all contracts are equal. Trust me, they are not.

Also be aware that some contracts have a non-disclosure clause in them for this very reason.

A Major Blunder in Etiquette

Years ago I was sharing the stage with a number of faculty at a writers conference for a panel Q&A. One author took the microphone and, without thinking, blurted out the amount of money they were paid on their last contract. There was an uncomfortable silence in the room since no one really knew how to react.

Afterwards an editor turned to me and said, “I never want to work with that author. There’s no filter nor is there any common sense.”

I Just Want to Help Others Know 

As far as sharing your successes as an Indie author? Again, be careful. You may want to help others succeed like you have. That is admirable. But at least limit your information to things other than your income.  Sharing what you spent on editorial, production, cover design, and marketing can be helpful for comparison. But declaring that you made a million dollars last month might not be the right message for your audience.

How Am I Supposed to Know What’s Normal?

One cannot analyze or compare their own income, contract, advances, or royalties with absolute accuracy. Recently I was asked, “What does the average author make in a year?” Instead of answering I asked in return, “What do you think?” They responded, “$45,000 per year?” I had to blink a few times and said, “That might be an average if you include a number of bestselling authors in the formula. But that also means there are a lot of others who would have to drop a zero from that number (down to $4,500) to create an average of $45,000.” I then told the story of a writer who had a day job unrelated to writing but wrote 10 published books by getting up at 5am every morning to write for two hours…and then helped the kids get ready for school and then went to work. For that writer, the books were a supplement to his income, not the primary source.

One author may get a one time deal for $15,000, but never write another book. Another author may write one book every two years, with each getting a $5,000 advance, but also publishes 30 paid articles a year. A third author may write a novel once every five years and nothing in-between, but their advance for their novel is $100,000. A fourth author may be prolific and publish eight novels a year, four with a traditional publisher and four as an Indie author…with an annual combined income of $60,000. Which one is normal?

You see the problem? There isn’t a straight answer to the question of what is normal when it comes to a writer’s income. Your agent is the best source of information. The agent knows what is typical in a situation and whether your deal is a good one or not.

Meanwhile, the Bottom Line is to keep your bottom line to yourself and be content with it being normal for you.

 

 

Leave a Comment
Category: Book Business, Career, Communication, MoneyTag: Book Business, Contracts, Facebook, Gossip, Money, rumors

Rumor Control

By Steve Laubeon October 30, 2017
Share87
Tweet
41

I was talking with an editor this week who asked me, "How are things going? I hear that your agency is barely making ends meet and that you've had to take on other type of work to survive."

I must admit that I was so startled by this rumor that words nearly failed me.

"Where did you hear that?" I exclaimed.

"Oh it was at a recent writers conference and folks were talking, and your name …

Read moreRumor Control
Category: Agency, Communication, SteveTag: Gossip, rumors

Barbour Sells Heartsong to Harlequin

By Steve Laubeon January 27, 2012
Share
Tweet
14

Today Barbour Publishing announced they have sold their Heartsong Presents line of inspirational romances to Harlequin.

For those of us who have been wondering about the eventual buyer, this comes as no surprise. We have known they were being sold since last Fall. In December I spoke with Barbour's president, Tim Martins, and he confirmed that the sale was in its last stages of negotiation but …

Read moreBarbour Sells Heartsong to Harlequin
Category: Agency, Book Business, Book Business, Contracts, Get Published, Steve, TrendsTag: Agents, Book Business, Publishing News, rumors, Writing Craft

A Defense of Traditional Publishing: Part One

By Steve Laubeon April 12, 2011
Share
Tweet
17

 

INTRODUCTION

There has been a plethora of new developments in the publishing industry causing the blogosphere, writers groups, and print media to light up with opinions, reflections, and advice. Some of it has been quite brilliant, other parts, not so much.

I would like to attempt to address the positive elements of traditional (or legacy) publishing as a defense of the latest …

Read moreA Defense of Traditional Publishing: Part One
Category: Book Business, Career, Defense of Traditional Publishing, The Publishing LifeTag: Book Business, Digital Books, E-Books, Get Published, rumors, Traditional Publishing, Writing Craft

Sidebar

Get Blog Updates

Enter your email address to get new blog updates delivered via email. You can unsubscribe at any time.

You have Successfully Subscribed!

Grow as a Writer


Find Out More →

Popular Posts

Top Posts on Book Proposals
  • Hints for a Great Cover Letter
  • The Keys to a Great Book Proposal
  • What Steve Laube is Looking For
  • Book Proposals I’d Love to See – Tamela Hancock Murray
  • What I’m Looking for – Bob Hostetler
  • What I’m Looking for – Dan Balow
  • What’s the Best Way to Submit My Self-Published Book?
  • What Is the Agent Doing While I Wait?
  • God Gave Me This Blog Post
Top Posts on The Business Side
  • When Your Book Becomes Personal
  • The Myth of the Unearned Advance
  • How Long Does it Take to Get Published?
  • What Are Average Book Sales?
  • Can You Plagiarize Yourself?
  • Never Burn a Bridge
  • Who Decides to Publish Your Book?
  • That Conference Appointment
  • Goodbye to Traditional Publishing?
  • Who Owns Whom in Publishing?
  • Ten Commandments for Working with Your Agent
  • Writers Beware! Protect Yourself
Top Series
  • Book Proposal Basics
  • Publishing A-Z
  • A Defense of Traditional Publishing
Top Posts on Rejection
  • The Slush Pile: Enter at Your Own Risk
  • Even the Best Get Rejected
  • Five Reasons Why You May Never Get Published
  • The Unhelpful Rejection Letter
  • Writers Learn to Wait

Blog Post Archives by Month

  • Home
  • About
    • Who We Are
    • Frequently Asked Questions
    • Interview with Steve Laube
    • Statement of Faith
    • Terms and Conditions
    • Privacy Policy
  • Guidelines
  • Authors
    • Who We Represent
    • Awards and Recognition
  • Resources
    • Recommended Reading
    • Christian Writers Market Guide Online
    • Christian Writers Institute
    • Writers Conferences
    • Freelance Editorial Services
    • Copyright Resources
    • Research Tools
    • Selling What You Write
  • Blog
  • Contact

Copyright © 2023 · The Steve Laube Agency · All Rights Reserved · Website by Stormhill Media