Don't Quit Your Day Job

We get the desire to be a full-time writer, but is it always the best decision? Jessica Faust and James McGowan discussed the realities of finances in publishing, and when to know if you can finally quit your day job.

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Jessica Faust’s love for books is what first brought her to open BookEnds Literary Agency. It is her desire to be an advocate for all authors that pushed her to create her blog, the BookEnds YouTube channel and to maintain a vibrant presence on Twitter.

Jessica is proud to have grown BookEnds to an agency that represents authors of all genres for children and adults, allowing her to reach more readers and help more authors and illustrators achieve their dreams.
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Since interning at BookEnds as an undergrad in the summer of 2015, James has (basically) never left. He's just continuously level-up-ed inside of BookEnds. Now he is the Literary Assistant and Social Media Manager for the team. He’s been a reader since his mom gave him the first A Series of Unfortunate Events book and ordered the sequels regularly through Scholastic book orders.

James is currently growing his own list and is actively seeking submissions in adult literary and upmarket fiction, mystery, thrillers, and suspense. He is also actively building his picture book list.

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[monamehas]

I am SO GLAD that I'm retired from my day job and don't have to worry about whether or not to quit my day job!

[TheWindingRoad]

I know we need money but this is why when you want to be an author you can't be in it just for the money. For me, it's about the love of reading, writing, and storytelling. Thanks, folks, for this video. I needed a better understanding of advances and how they work.

[colleenheitmann]

Thanks for the reality check and realistic explanations. 👍

[Ruthie]

Writing with the pressure of money. That is an interesting perspective. Helpful. Thank you.

[Dragonscales-and-Fairytales]

Great video! Love this kind of content.

[teresajones]

I was published for 10 years while working full time hospital work. I wanted to retire and know that I was writing for the love of it and not money. My pension gives me that goal and I still write for the love of it first, all the while knowing I can pay my bills.

[debrashelton]

I'm a f/t writer, which is a dream come true. And who knows? One of these days, I may even make money at it! 😜💰

[etluxaeterna]

I think the bookends team here is being extremely (excessively?) generous in stating things like "you may not earn any royalties for at least a year, etc." The truth is the vast majority authors on their debut will NEVER earn royalties because it's a known statistic that the vast majority of debuts do NOT earn out their advances. So the fact is you will NOT earn any royalties on your debut, you will most likely just get a 7-10k advance (the average these days) or LESS, and that will be split into 3-4 payments over the course of a year or two which will then have 15% taken out for agent's commission and probably 30-50% for taxes. So in the end on your debut book in total earnings you'll probably make a couple thousands bucks over the course of a few years. So yeah uhhhh don't quit that day job!

[andreelemire]

Love this - I was just thinking about this the other day. I'm hoping to submit queries by the end of the year, and like another comment mentioned, I write for others, but the stories I have and need to write are for me. I'm writing tales and narratives that I, myself, wanted to read growing up. The writer's/authour's life chose me and I'll do what I can with it until I can ultimately make a living with this passion.

[Floridameerkat]

Can you do a video on signing author duos? How does it work if there's more than one author writing a book/series from an agent standpoint?

[AndyJewett]

Thanks BookEnds!

Even when/if you quit your "day job" there have to be other streams (probably MANY) of income to stay afloat.

As an Author/Illustrator I am freelancing design and illustration work and doing commissions. If you are comfortable Speaking there are paid speaking engagements, and a ton of other avenues to earn while writing. I am still trying to figure what streams work best for me personally. Best of luck to all!

[Cierraleeanne]

Hope y’all are doing well! I’ve been rewatching all of your videos and have been thinking about this one a lot and how Jessica suggests finding a second method of income involving some type of writing. I was hoping maybe you guys could add a Ghostwriting episode! What it’s about, how to get into it etc. As always, thank you for putting out such informative content!

[erikaromerowrites]

Very interesting. I’m curious, what percentage of your authors have reached the point of writing full time?

[ktales]

The idea that stress could become a factor after that first book is written sounds like a good reason to have the first draft for a sequel or two at the ready... although I guess doing more than sequel on everything isn't necessarily a productive strategy when you can't be sure the first will sell.

And would taking a second book deal while you have a deal hurt your existing deal in any way? Or is that one of those cases where you'd want to publish under a separate name?

[jrwilliams]

I was curious what sort of books would typically receive such a high (million dollar plus) advance? I’d imagine if the publisher offered this much they’d expect the potential readership of the book to be quite large. My guess is the manuscript is either Colson Whitehead level literary prowess or it’s a unique combination of hot genres like romance, thriller, and sci-fi.

[writenowdream]

Seems like if you decide to write full time, you shouldn’t be afraid of keeping up a side hustle.

[Floridameerkat]

Can you do a video on illustrations in books that are not picture books? I'm writing a MG novel that will benefit from illustrations of the characters, but I'm not an illustrator. When do I mention to an agent that I want the book to be illustrated? During the offer interview? After I've signed with them? Once the book has been picked up by an editor?

[stephenford]

Do you have to take an advance? Thinking no. I always though I would still just do what I'm doing, delivering food, and look for a better royalty deal.

[marydelong]

All good reasons not to sign with an agency. You might not live long enough to ever see it in print.