This Friday is Writers Worth Day, a celebration of the importance of placing an appropriate value on the work you do. The annual event was created by writer Lori Widmer, and she gives the background and details on her blog.
It seems easy to value freelance work–you charge by the word, by the hour, or by the project. You set your rates based on a review of what others are charging for the same work and the level of experience you have. Sometimes you choose to discount for a worthy cause or a special vehicle.
But how do you value your work on a book, especially your first book. If you are writing under contract with an advance, you know what your worth is. You can assess the level of pay by dividing the advance by the number of words, pages, or hours you will devote to the project. You can factor royalties in there, but remember that many writers don’t earn out their advances, or if they do, they earn a small amount over the advance. Not enough to factor into their income planning for the year.
If you are not writing under contract, you are working on blind faith that someone in the publishing world will see the value of what you have written and offer an advance that matches your worth. I know that most writers are so excited to get an agent and/or a contract that they may settle for a crummy advance and crappy terms (that, of course, is when the agent steps in and counsels against a crummy deal).
And a lot of book writers continue to keep a day job because the money they earn writing isn’t enough to support their families.
What will you do this week to ensure that your writing is valued? How can you make sure you earn what you are worth?
It’s a clogged entertainment business, so writers do have to “pay their dues”. This means not getting top dollar for their first books, most of the time. I tend to focus a lot of time building my resume with short fiction. It never pays as well anyway, and a bunch of short stories can really reach a lot of people and build buzz around an author.
Good topic. I’m actually trying not to think of my book in terms of monetary value, but rather see it as a vehicle to help others. That way, if I touch someone with my writing, I consider myself successful. It’s not based on how much I will earn. Making a contribution to someone else brings value to my life.
Karen
http://www.karenfollowingthewhispers.blogspot.com
Very good point. I come from a magazine background, so I think in terms of magazines and freelancing. I’m slowly shifting my mind to the world of fiction writing.
In both worlds, though, starting small and working bigger is smart. In magazines, you wold start with local publications and short pieces, working your way up to regionals and finally nationals. In fiction, you start with short stories in small periodicals/anthologies, working your way up to larger publications and then books.
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