A first-time author with a traditional publishing deal might expect an advance of $1,000-$10,000 and 5-18% royalties once they “earn out” their advance. Self-published authors do not receive advances, but their royalties can reach up to 70% for ebook editions.
Book Advances
A book advance is a forward payment given to the book author, with the expectation that the book will earn this amount back in sales. For beginner authors, advances can range from a modest $1,000 to $10,000. For well-established authors with proven track records, this figure can soar into the hundreds of thousands or even millions.
Royalty Earnings
Royalties usually range from 7% to 15% of the book’s sale price, depending on factors like the format of the book and the total number of copies sold. If an author sells 5,000 copies at a $10 net price, they can expect to earn between $2,500 and $7,500 in royalty payments after the advance has been paid off. This figure gets much higher if an author self-publishes, and for 5,000 copies sold they can expect to earn between $20,000 and $35,000. Authors who self-publish can expect to earn 2.6 to 14 times more than those who go with traditional publishing, advances excluded.
Can Authors Earn a Six-Figure Income?
An author might expect a $1,000-$10,000 advance from a traditional publisher and 5-18% royalties once earning out that advance. Self-published authors forgo advances and can earn up to 70% royalties on ebooks. If an author sells 5,000 copies at a $10 net price, with self-publishing, they can earn between $20,000 and $35,000. Self-published authors can earn significantly more than those who opt for traditional publishing, excluding advances.