This blog post was linked to me by a friend. I was curious as to how the whole getting paid for your books thing works and found it to be extremely helpful. I decided to bookmark it for future reference, along with following this blogger. Check it out!
By Chuck Sambuchino
If you’re going to wheel and deal with literary agents and editors, you’ll end up spending more time than you’d like discussing rights, contracts, advances, royalties and a whole lot of other important stuff. That said, I want to address the most common questions regarding how advances and royalties work. In other words, how does the payment process work when you sell a book?
Here are some FAQs:
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…
View original post 1,379 more words