It is said that we each have a novel in us, or at least we like to think we do. And I am sure most of us dream of the New York Times bestseller list and the money and fame that will flow from that success. Well, don’t hold your breath.
In An Agent Explains The Ins and Outs of Book Deals at Electric Lit Kate McKean demystifies the mysterious world of the advance and other esoterica of the book deal.
“the total advance depends on so many things, including the quality of the work, the sales potential of the work (not the same thing!), the author’s platform and/or previous sales, the zeitgeist, the “market,” how many other editors are interested (if any), how similar books have performed for the publisher and/or other publishers, and many, many other things. Because there are so many factors, there’s no “average” book advance. $1,000 is rare. $1,000,000 is also rare.”
This is well worth the read for anyone contemplating their first novel.