A thread on advance payouts!
Say you have a $60k advance per book for 2 books ($120k total). You don’t receive all upfront. It’s broken into pieces, paid over years. So for this advance, let’s say it’s paid in thirds... #PublishingPaidMe
Say you have a $60k advance per book for 2 books ($120k total). You don’t receive all upfront. It’s broken into pieces, paid over years. So for this advance, let’s say it’s paid in thirds... #PublishingPaidMe
Payout in thirds is:
- 1/3 on signing of contract (40k bc the contract is for both books)
- 1/3 on delivery and acceptance of revised manuscript #1, ie after edits w/editor. ($20k)
- 1/3 on publication of book #1 ($20k)
- 1/3 on d&a book #2 ($20k)
- 1/3 on pub book #2 ($20k)
- 1/3 on signing of contract (40k bc the contract is for both books)
- 1/3 on delivery and acceptance of revised manuscript #1, ie after edits w/editor. ($20k)
- 1/3 on publication of book #1 ($20k)
- 1/3 on d&a book #2 ($20k)
- 1/3 on pub book #2 ($20k)
What does this mean? Well say you sign this book deal in 2020 for a book that’ll publish in 2022. So let’s say the contract is finalized in 2020 that means you get $40k in 2020 for the signing of the contract (and again the contract is for both books hence the double amount)
This means the revised first book, based on notes from an editor, will likely be due in 2021 which means you’ll be paid delivery and acceptance (d&a) in 2021. Okay so that happens and you get $20k for turning in the full final manuscript of book 1
Then publication is in 2022 so if it’s a March publication you’ll get paid then and these payments are often automatically sent
... so you get paid $20k for book 1 publication
AS WELL AS $20k for book 2 d&a IF book #2 is supposed to publish in 2023.
Yay $40k in 2022.
... so you get paid $20k for book 1 publication
AS WELL AS $20k for book 2 d&a IF book #2 is supposed to publish in 2023.
Yay $40k in 2022.
In 2023 you’re back to getting $20k for book 2 publication. And then hopefully you’re working another job or have something else on the side or a rich spouse/trust fund etc bc this really isn’t enough to live off
If you have an agent the agent takes 15% which means you only get $105,000 total. But agents are worth it bc we usually get you a better overall deal and we manage your entire career and help you strategize long term
And then don’t forget about taxes, be safe and put aside 30% and so yeah... as you can tell... this ain’t a lot. And that’s why people are having this convo bc it does matter
And the payout changes based on advance size. Sometimes it’s 1/2 usually if it’s a larger six figure deal it’s 1/4s I’ve even seen 1/5s which I abhor bc omg come on but it happens
If you want to read more about this highly recommend this from @stdennard and @JoSVolpe breaking down advance and subrights etc
