Can You Earn Money Writing Fiction? Discover the Truth About Fiction Writing and Money

Whenever I speak to a writers group aboutGenerally upon signing a contract, you will get a
writing and publishing fiction, the topic of moneyportion of the $100,000 advance. Let's say you
invariably arises. People want to know the truthget $33,300 on signing, about a third of the total.
about how much money you can realisticallyA year later, when you deliver the manuscript
expect to earn writing novels and short stories.and it's accepted, you get another $33,300.
I'm here to tell you the truth. And the truth is, itAnother year later, when the book is published,
depends.you get the final installment, $33,300.
There are the superstar authors who earn millionsSo after two years, you finally get all of your
of dollars per book. On the opposite end of themoney. But let's not forget about your agent.
spectrum, there are novelists who would haveTypically, they take 15%. Then the tax man gets
earned more money flipping burgers ata hefty cut, let's say 28%. Your $100k advance
McDonald's. It's hard to nail down the averagehas shrunk to around $60k, paid out over two
book advance, because authors are notoriouslyyears. That's about $30k a year. With these
dishonest about how much they get paid. Few ofsobering numbers, you may wonder if it's truly
them want to admit that they're earning peanuts;possible to make a living writing fiction full-time. It
others don't want to admit they're earning amost definitely is. I've done it for five years now.
fortune because the knives of envy come outIt's an attainable dream.
and they'd lose their writer-friends.But unless you're earning advances in the
But based on my experience and what I've seenstratosphere, you have to be willing to write
in industry publications, the average advance ismore--maybe much more--than one book a year.
between $5,000 and $10,000. (Yeah, don't quitBeing prolific is essential. You need to get a lot of
your day job.) Sure, you might get struck bynovels on bookstore shelves. Those books need
lightning and snag a million-dollar advance for yourto stay in print, earn out their advances, and
first novel. But this is so rare that I'd nevergenerate royalties.
recommend you count on it.You need to keep getting better, writing stories
Matters get even more complicated when youthat connect with growing numbers of readers.
think about how an advance is typically paid outYou need to keep believing in yourself, especially
to an author. If you get, say, a $100,000 advancewhen you encounter setbacks. (And they will
for one book, you might think you've got it made.come.) It's a tough business all around. Which is
On one level, perhaps you do. But when I tell youwhy you should never do it solely for the money.
that it can take two years for you to get all ofThere are much, much easier ways to earn a
that money, it doesn't sound so spectacular. (Stickliving.
with me here.)Do it for the love.