Martin, Cheryl Strayed said, “There’s no other job in the world where you get your master’s degree in that field and you’re like, ‘Well, I might make zero or I might make $5 million! Martin said that “the people who are able to practice the trade of authoring are people who have other sources of income,” adding that this creates barriers of entry and limits the types of stories that reach a wide audience.
There is also, she added, a devaluation of writing in which it is often viewed as a hobby as opposed to a valuable vocation.“Everyone thinks they can write, because everybody writes,” Ms.
Others offer their readers in-person experiences or ancillary products to their books, and these offerings end up bringing in more significant revenues than book sales alone could ever deliver.
Writing has never been a lucrative career choice, but a recent study by the Authors Guild, a professional organization for book writers, shows that it may not even be a livable one anymore.
According to the survey results, the median pay for full-time writers was $20,300 in 2017, and that number decreased to $6,080 when part-time writers were considered.
The latter figure reflects a 42 percent drop since 2009, when the median was ,500.
This holds the key to how "lesser" authors like you and me can make money with books, too: Use your book to create relationships with readers.
Let your book be your ambassador so others get to know, like, and trust you. You may think it's foolish of me to give the book away, especially since I've received royalties over ,000 from Amazon by now (I'm able to pocket a higher percentage of sales because I self-published the book). People who downloaded the free book became aware of my consulting services and training programs and eventually brought in revenues of over a quarter of a million dollars.
If your book retails at per copy, you would need to sell at least 4,000 copies to break even on a ,000 advance.
Mack Collier, author of Think Like a Rock Star, estimates that he earned .63/hour for writing his book, working 25 hours per week over a period of 9 months.