The Tough Financial Road For Writers

Types_of_Freelance_Writing_Services[1].jpgI learned a long time ago that when it came to writing and income, I’d be taking more risk than I wanted in trying to earn a living from writing and publishing fiction. When I started getting paid for my published short fiction, the average paycheck was about $100, which meant I’d have to write and publish far more stories than I could possible manage.

After sharing my paltry income experience with a writers’ group back in the early 90’s, one of them loudly announced that she didn’t want to hear it. I learned then that not all writers want the truth about writing income. Since that time, I’ve read of, or even met, writers who wrote fiction as a means of earning needed retirement income. I worried for them. In fact, I worry for anyone who is depending on writing income, especially given the latest stats to come from the Authors Guild 2018 Author Income Survey. In a nutshell, the survey shows that writers’ incomes are dropping significantly. Keep in mind that this is one survey, but I’ve read of similar results from UK, Australian, and the occasional Canadian survey as well.

If you don’t want to know what the Guild report says, then stop reading here. I don’t mind. If you want to read the entire report (it’s interesting), you can find it HERE.

I want to focus on three highlights: 1) the median income for American writers in 2017, was $6,080, down 42% from 2009. 2) book earning incomes fell by 21% to $3,100. 3) on average, self-published authors earned 58% less money than traditionally published authors. A number of reasons are cited for these circumstances. Like many of us, the authors who took part in this survey supplemented their income through teaching, speaking engagements, and writing reviews.

I can certainly attest to the significant decline in ebooks sales for indie authors. In 2008 when I published Fatal Encryption, readers were trying their new e-readers and Kindles, and authors were buying one another’s books and reviewing them regularly, which Amazon eventually frowned upon. I used to sell paper copies on Amazon too until they decided to allow secondhand booksellers to sell my books at a cheaper price. It was either learn from this and adapt, or quit. I’ve chosen to adapt.

After reading the Authors Guild Report, I want to mention two things. One is that most authors (of course there are obvious exceptions) haven’t made a decent living from their work for well over a century. You can find references to what your predecessors have endured going back to Charles Dickens’ time and earlier.

My second point is that the desire—if not urge— to create won’t stop writers from expressing themselves in whatever form they choose, despite low income potential, nor should it. Dream big. A decent income does happen for some authors. It might not be easy and could take years of work, but nothing worthwhile comes easily, but then you already knew that, right?

Authors Who Are Earning Mega Bucks

dollar-signs-money-clip-art-thumb2184272[1]Forbes has released their latest list of the highest earning authors. My income is so far below theirs that it’s laughable. Still, I find inspiration in the fact that many others actually make a great living from their work. Here are the top five, but please check out Forbes’ longer list HERE

J.K. Rowling at a whopping $95 million!

James Patterson, $87 million

Jeff Kinney, $21 million (Author of the Diary of a Wimpy Kid series, he’s the only A-lister I haven’t read)

Dan Brown, $20 million

Stephen King, $15 million (he wrote his 55th novel, End of Watch, last year!)

Needless to say, nearly all of Forbes’ top earners have had movies made from their books, but books are still the major source of their income. So, keep writing folks, and study the pros if you want to join them! The one thing I see in common from the big money earners is that they are born storytellers who give their readers page-turning tales over and over again.