This is a common question among writers, and it has been asked for centuries. How much does one get paid for writing? Is there a secret formula that determines how much someone will be paid for writing, and what kind of work will get you there?
The short answer is that there isn’t a set formula, and it depends on many factors. However, most importantly, it depends on your prior writing experience, how well you perform, and what the market demands. In this article, we will discuss some of the things you need to consider before you can figure out how much money you will make as a writer.
Prior Writing Experience
The easier question to answer is how much does one need to have written in order to become a successful writer? The answer is that it depends on how much you are willing to learn, and how quickly you are willing to absorb and utilize that knowledge. In most cases, the more you put in, the more you will get back. Whether you are looking to write for fun or to make a living, you need to consider your own prior writing experience and what you may have to learn.
The Editorial Process
When you are first starting out as a writer, the hardest part about making money is getting your foot in the door. After submitting your work to numerous magazines and publishers, who decide whether or not to give you a contract, you will find yourself in a position where you are negotiating your first big paycheck. When this happens, you will have to consider the following:
- How much do I need to be paid to take on this project?
- How much am I willing to risk?
- What is my manager going to say?
- What are my agent going to say?
- How do I want this paid? (i.e., by cheque, wire transfer, or paid in installments)
- What are my responsibilities as the writer?
As you can see, this is a lot to think about, and it can be overwhelming if you are not prepared for it. When you are finally handed the keys to a brand new apartment, you will want to be sure that everything is perfect. When that happens, you can be sure that all of these questions will be answered, and you will feel grateful that you did your homework, prepared for the negotiations, and were able to keep your newfound home.
The Institutional Knowledge
While you are growing your knowledge as a writer, you also need to be thinking about how much you are worth. Is this book going to make me rich? Is this movie going to pay off? These are the kinds of questions you need to be asking yourself, and you need to be prepared to answer them truthfully. Once you are able to put a number to these uncertainties, you can start making some informed decisions about your writing career. For instance, you may decide that this is not the kind of work you want to be doing for the rest of your life, and you can decide to go back to school or get a different job. You must consider all of your options before you make any kind of rash decision. It is never easy being a writer, but it is always a good decision to continue down this path.
The Demand For This Kind Of Work
Let’s get back to the original question, how much does one get paid for writing? As we’ve established, it depends on many factors, but there is one main determining factor, and that is the demand for this kind of work. When pitching your book to publishers or pitching your movie to studios, you must consider the following:
- Is there enough demand for this kind of book or movie?
- Is this the kind of work they are looking for?
- Is this something I can grow into?
- What is the market like for this kind of book or movie?
- What are the upcoming projects?
- How popular are my contemporaries?
As you can see, there are a lot of variables, but you must put a number to this. If you cannot put a number to any of these questions, it can be tough to decide whether or not to pursue this career. When you are able to, it will make your life a whole lot easier. Just remember, this is not an exact science, and it is always a crapshoot. However, as long as you put in the work and are willing to learn, the rest will take care of itself.
Conclusion
As you can see, there is a lot that goes into becoming a successful writer. It takes talent, and it takes guts. You must be able to look at yourself in the mirror and know that you have something to offer, and you must follow your heart. In the end, it is all about what you want to do, and it is up to you to figure out how much you are willing to risk, and what you are willing to learn. Good luck out there.