When an author publishes their first book, they often wonder how much they will get paid for it. In the UK, the amount of money authors receive for their first book is determined by the recommended retail price (RRP) and the royalty rate.
The traditional royalty rate is 10% of the RRP for hardback books and 7.5% for paperbacks. This means that for a hardback book with an RRP of £16.99, the author would receive around £1.70 for each copy sold. For a paperback book with an RRP of £8.99, the author would receive 67p for each copy sold.
It is important to note that these are just the royalties from the sale of the book. Authors may also receive additional income from book signings, public speaking engagements, and other promotional activities. Additionally, some authors may receive an advance from their publisher before their book is published. This advance is typically based on the publisher’s estimation of how many copies of the book will be sold.
In conclusion, the amount of money authors receive for their first book in the UK is determined by the recommended retail price and the royalty rate. On average, authors receive 10% of the RRP for hardback books and 7.5% for paperbacks. Authors may also receive additional income from book signings, public speaking engagements, and other promotional activities, as well as an advance from their publisher.