There’s a calculation I’ve been breaking out dozens of times in the last month or so–in innumerable conversations at RWA, in e-mails back and forth with several people asking me for advice. I mentioned it in my talk to the Golden Network, and mentioned it again at the PRO retreat at RWA’s national conference. Usually the question that has been asked of me looks like this: “I got an offer from my publisher for $3,500 for my next book,” someone says. “Should I take it or self-publish?” (Note: I’ve seen similar numbers from five different people in the last month, so if you think I’m talking about you, I’m not–I picked the advance that was the aggregate offered.)
I never answer that question. I can’t know what your circumstances are or what you should or shouldn’t take, or what you value and what you need or where you are in your career.
What I can do is tell people how to think about money earned over time in a semi-rational fashion.