How Much $ is Enough?
H ow much money should you make? The question came up on Steve Laube’s blog Goodbye to Traditional Publishing? . Apparently, Ann Voss Peterson (no, I don’t know who she is either), is upset because she only made $20,000 on 170,000 copies of a book. That is roughly 12¢ per copy. The cover price is $4.50. So allowing for the store to get 40%, the publisher gets $2.70, so Ann Voss Peterson receive only 4.3% of what the publisher received, or 2.4% of the cover price (by her figures). Sounds terrible, doesn’t it? Okay, backup. I think you missed something. Ann Voss Peterson made $20,000 from a book she wrote. Given that an author writing full-time can crank out four books a year, that is the equivalent of $80,000 per year. You won’t get rich on that, but I know a lot of people who think that is a good salary. We usually measure what we consider to be a good salary by what other people are making. If someone is making $50,000 a year but he sees a co-worker making $60,000 a year, he ...