From author Cara McKenna via Wonk-o-Mance:
When I was a new writer, there was only one place I knew of that offered a sense of what money there was to be made in this gig, and that’s the famous Brenda Hiatt blog post, Show Me the Money! Even now, I don’t really know what my closest writer friends make—and we blab in excruciating detail about nearly everything when sequestered late at night in conference hotel rooms, with our Costco merlot swirling in plastic tumblers and our achy dance-floor feet dangling off the edges of our overpopulated beds.
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[T]oward the end of 2014, I met what I’d always imagined was a ridiculous, pie-in-the-sky professional goal—a dream more than a goal, really. I set this goal when I sold my first book, just over five years ago. I was infatuated with writing, and I told myself that I would feel satisfied and proud and legitimized forever if I could manage just this: to one day make as much money in one calendar year of writing as I’d made as my salary when I stopped being a full-time graphic designer. And this past year, I did it. With a couple thousand dollars to spare.
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Now, let’s get the figures out of the way, because in all honesty they’re probably not going to blow your mind and so I don’t want a big build-up. At the time my old office in Boston closed in 2009 and I lost my design job, my salary was $44,000 a year. I wasn’t raking it in by some standards, but hey, I went to a state art college. The kid done all right. And now my “Book Earnings 2014” spreadsheet tells me that, from January through December of last year, I earned from royalties and advances $46,517. And eighty-six cents.
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I’m comfortable writing about this because in all honesty, I don’t care what anyone thinks of what I make. Money to me is strictly about security and freedom, not prestige or worthiness or even success. I want enough money, but not much more than that. Having much more money doesn’t seem to bring people much more peace of mind. Some might think the amount I now make is great, while some others will probably try to draw me aside in the lobby at RT this spring and murmur conspiratorially, “You know, you could be making so much more by self-pubbing. Let me share with you my secrets.”
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“Woman Writes for Several Years, Eventually Makes a Living Wage” is not a headline that’s going to inspire thousands to quit their day jobs.
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I have been writing seriously for 6.5 years.
In that time, I have sold 39 original books and novellas to 5 publishers. (I’m not counting anthologies featuring previously released stories, foreign editions, or re-releases.) Of those 39, 6 titles are not yet released.
My first title was published just under 5 years ago, with Ellora’s Cave.
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My first royalty check was for $141.00. (Always one to keep my expectations low, I had been hoping for $40, enough to pay for some celebratory drinks, so I was stoked to surpass that by a hundred and one bucks. I’m pretty sure we got Indian food that night.)
In 2010, my first year of being published, I made $11,000 from my writing, with 7 titles released and 1 more contracted. (A large chunk of that came from my first advance, with Harlequin Blaze.) That’s a lot of titles in one year. I wrote short, and quickly. I was intoxicated by this new job that I ached so badly to keep. I was on unemployment, so money wasn’t too much of a stressor between me and my husband. I was very excited to have made five figures in my debut year, considering my initial hopes of getting $40 out of that first royalty period.
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The healthiest chunks of my income arrive as advance payment checks, not individual books’ royalties. I would not be surprised if my yearly income takes a dip in 2015, if only because I’m contracted and on deadline through the spring of 2016, and don’t imagine I’ll be seeing any juicy signing checks for selling new proposals this year.
Of my 8 books that came with advances and have been out for 12 months or more, only one has yet to earn out its advance—and even that straggler’s getting very close. Modest advances aren’t a bad thing, provided you don’t like a lot of pressure and you’re not too vain.
Link to the rest at Wonk-o-Mance and thanks to Mike for the tip.
Here’s a link to Cara McKenna’s books