June 12, 2006
For those of you who read the last post, please note that I screwed up the math--which is one reason I'm not wealthy, I suppose. In fact, most of the numbers I calculated were based on the first 2/3 of the $50,000 advance. There's still another $16,000 coming when the various manuscripts are turned in, accounting for, oh hell, let's just round off--15% off for agent, 26% off for government, which comes to about a third, so in addition to that other $20,000+ said author will also get about $11,000 more. Okay?


Oh, wait, wait, wait...

Per book!!! Ah, geez!

We're looking mildy better (I don't think $11,000 is anything to sneeze at, although I've been startled in my adult life at how quickly it can disappear).

So, add $33,000 to the top of that $60,000, you're closing in on $100,000 spread out over 3 years, which isn't too bad (that's after taxes), but there'll be overhead and promotion expenses. So yes, you can make an okay--middle-class--living, especially if your spouse works and has health insurance. And you never know, Brian Grazer or one of the other very successful movie producers might decide to option your book, or you sell language rights to the Netherlands, Russia or Japan and if your agent and your publisher's foreign rights rep and your individual contracts don't eat all the income, you might find yourself pondering just how far Guilders, Rubles and Yen can go.


Best,
Mark Terry