And finally: How much money will I make on my first book?
Let’s put it this way: Don’t quit your day job. Writing for the children’s book market is seldom as lucrative as writing for the adult market. For a 32 page picture book, you can expect to split a $3,000-$8,000 advance 50/50 with the illustrator. The publisher will then pay each of you 3.5%-5% royalties against the advance Note that your book must sell enough copies to earn back your advance before you receive any royalties. Most picture books sell from 5,000-10,000 copies in hardcover and go out of print within fourteen months. Few go into paperback. Easy readers are about the same. The royalties are not split on a novel, so you could receive approximately a $5,000 advance against 7-10% royalties. Royalties are usually based on the retail price of the book, however some publishers go by “net price” which is the price of the book after their discounts are figured in, which means, less money. Read your contract very carefully. Compensation for magazine articles varies widely depending on the publication, its circulation and the type of piece being submitted, but payment can often range between $25 – $200.
In the end, writers write because they love creating stories and making words sing, and they love to see children enjoy the stories and books and poems and articles they have created. These are the true riches that a writer for children will garner. You don’t have to be published to achieve this goal.
