Q:How much money will I make on my first book?

A: Writing for the children's book market is seldom lucrative especially with a first book. Though there are always exceptions, for a 32 page picture book, you might expect to split an $8,000-$12,000 advance with the illustrator (the illustrator usually receives a larger advance than the author), then each of you will get 3.5%-6% royalties against your advance (your advance must be earned back before you receive any royalties). Most picture books sell from 5,000-10,000 copies in hardcover and go out of print within two years. Few picture books go into paperback. Easy readers are about the same. The royalties are not split on a novel, so you could receive approximately a $5,000-$8,000 advance against 7-10% royalties. Royalties are usually based on the retail price of the book, however some publishers use a percentage of "net price" which is the price of the book after their discounts and/or expenses are figured in. Read your contract very carefully and get advice on the things you don't understand. Compensation for magazine articles varies widely depending on the publication, its circulation and the type of piece being submitted, but payment usually ranges between $25 - $500. Though not as lucrative, magazines are a great way to build your writing/illustrating credentials and gain publishing experience. Authors and illustrators also supplement their income by doing workshops and school visits.

Ultimately, children's book writers, illustrators and editors work together to create a very special world for children. Though it is the adult who writes, illustrates, chooses, edits, markets, sells and buys the stories, it is all about the child who reads them. Respect your readers, make them want to turn the pages, and you'll be on your way!