What Do Publishers Really Pay You For A Book?

“Thrilled” doesn’t begin to describe how I felt when a major publisher bid $10,000 for my first novel. I was the book critic for an Ohio newspaper at the time, and I wanted the Cleveland Orchestra Chorus to stand up in Public Square and sing the “Hallelujah” chorus. I was overjoyed because I’d written my novel on a whim and wasn’t sure I’d find a publisher at all. And I’d read a lot of literary history and knew of famous authors who had received a far lower “advance,” the publishing term for money paid after you sign a contract. <h2>The truth about ‘six-figure advances’</h2> You could easily get the idea from news reports that successful authors are all signing break-the-bank deals with publishers. But a closer look at the numbers tells a different story. Let’s say that you get a $100,000 advance. Your literary agent will take a 15% commission. In the U.S., you’ll also owe federal and state income taxes on your advance, which could eat up another 30% or more. And publishers pay on an installment plan. You used to get half of your money when you signed the contract and half when you turned in an acceptable manuscript. <a href="https://medium.com/the-pub/what-do-publishers-really-pay-you-for-a-book-8b6bc76c302b">Click Here</a>