How Much Do Authors Make? A Realistic Salary Breakdown

Aspiring writers often wonder how much money they can make as an author. The truth is, the answer varies widely depending on several factors, including whether you choose to self-publish or go the traditional publishing route. Additionally, factors such as book sales, royalties, and advances can all impact an author's earnings.

According to a report by the Bureau of Labor Statistics, the median salary for a writer and author in May 2018 was $62,170. However, this figure doesn't take into account the wide range of salaries that authors can earn. Some self-published authors have been able to earn a sustainable income of $5,000 to $8,000 per month, while traditionally published authors may receive advances of $1,000 to $10,000 and royalties of 5-18%.

It's important to note that becoming a successful author takes hard work, dedication, and a bit of luck. While some authors are able to make a living solely from their writing, others may need to supplement their income through part-time work or other means. In this article, we'll explore the factors that can impact an author's earnings and provide insights into how much you can realistically expect to make as an author.

Factors That Affect Author Earnings

Book Format

The format in which an author publishes their book can significantly impact their earnings. Traditional publishing houses typically offer authors an advance and a royalty rate of 5-18% once they "earn out" their advance. Self-published authors, on the other hand, do not receive an advance but can earn up to 70% in royalties for ebook editions. This means that self-publishing can be more lucrative for authors in terms of royalties.

Book Genre

The type and genre of the book can also affect an author's earnings. Certain genres such as romance, mystery, and thriller tend to sell better than others, which can mean higher earnings for authors in those genres. However, it's important to keep in mind that authors should write what they're passionate about, rather than solely focusing on potential earnings.

Pricing Strategy

The pricing strategy an author chooses for their book can also impact their earnings. Setting the price too high may deter potential readers, while setting it too low may not generate enough revenue. Authors should research the market and consider factors such as book length, genre, and competition when setting their book's price.

Marketing and Promotion

Marketing and promotion are crucial factors that can impact an author's earnings. Authors who invest time and resources into promoting their book and building their brand are more likely to generate sales and increase their earnings. Social media, book tours, and book reviews are just a few examples of effective marketing strategies that authors can utilize.

Overall, there are many factors that can impact an author's earnings, and it's important for authors to consider these factors when deciding how to publish and market their book. By understanding the industry and taking a strategic approach, authors can increase their chances of success and earn a living doing what they love.

Types of Earnings for Authors

Advance

For traditionally published authors, an advance is a sum of money paid by the publisher upfront against future royalties. The amount of the advance varies depending on the author's experience, the genre, and the publisher's expectations. First-time authors with a traditional publishing deal might expect an advance of $1,000-$10,000, while established authors can receive six or seven-figure advances.

Royalties

Royalties are a percentage of the book's retail price that the author receives for each copy sold. Royalties for traditionally published authors usually range from 10%-12%, while self-published authors can make between 40% - 60% royalties on the retail price of a single book. However, traditional publishers may offer higher royalties for ebooks, typically between 25%-50%.

Self-Publishing Income

Self-publishing authors do not receive advances, but they have more control over their earnings. They keep a higher percentage of the book's retail price, and their royalties can reach up to 70% for ebook editions. Self-publishing authors can also earn money from other sources, such as speaking engagements, merchandise, and courses related to their book's topic.

It's important to note that the earnings for authors can vary widely depending on factors such as the book's success, the author's marketing efforts, and the publisher's marketing support. While some authors can earn a significant income from their writing, many authors earn only a modest income or even lose money on their writing ventures.

Average Author Earnings

Traditional Publishing

According to the Bureau of Labor Statistics, the median salary for a "writer and author" in May 2018 was $62,170. However, this figure does not account for all authors since many "write part-time" or have other sources of income. First-time authors with a traditional publishing deal can expect an advance of $1,000-$10,000 and 5-18% royalties once they "earn out" their advance. Typically, established authors with a traditional publishing deal can expect to earn 10%-12% royalties.

Self-Publishing

Self-published authors do not receive advances, but they have the potential to earn higher royalties than traditionally published authors. Self-published authors can make between 40% - 60% royalties on the retail price of a single book. The exact percentage depends on the platform used and the pricing strategy of the author. For example, Amazon's Kindle Direct Publishing offers a 70% royalty rate for ebooks priced between $2.99 and $9.99. However, self-publishing also requires the author to invest their own time and money into editing, cover design, and marketing.

It's important to note that these figures are just averages and there are many factors that can influence an author's earnings, such as genre, book sales, and marketing efforts. It's also worth considering that writing is a highly competitive field and not all authors will achieve these earnings. However, with hard work and dedication, it is possible to earn a living as an author.

Conclusion

Being an author can be a fulfilling career, but it's important to have realistic expectations about how much money you can make. The amount of money an author can earn varies widely based on factors such as genre, book sales, and publishing method.

According to the Bureau of Labor Statistics, the median annual wage for writers and authors was $69,510 in May 2021. However, this number includes writers and authors of all kinds, including those who write for magazines, newspapers, and other publications. The amount of money an author can make from book sales alone is often much lower.

While it's certainly possible to make a living as an author, it's important to be aware of the challenges and to have a plan for how to make money. Some authors supplement their income with speaking engagements, teaching, or freelance writing. Others may choose to self-publish their work and rely on marketing and promotions to increase sales.

Ultimately, the amount of money you can make as an author depends on a variety of factors, including your talent, your work ethic, and your ability to market and promote your work. With hard work and dedication, it's possible to make a living as an author, but it's important to be realistic about the challenges and to have a plan for how to overcome them.