One almost thinks that any big publishing companies rash enough to give $375,000 to someone this starry-eyed simply deserve to suffer the loss. The Digital Reader sends us a link to Heather Demetrios’ Medium story about the dangers of publishers’ advances, commenting “If you can make it all the way through this humble brag about an author pissing away a third of a million dollars in advances, I have the deepest respect for you”. Well DR, as Ali G might say, “Respeck”!
When Ms Demetrios found that, because the books she’d written didn’t sell well enough to earn out, she was being offered smaller and smaller advances (though still pretty substantial ones to my mind) she wonders “What other job would lower your salary after getting such great performance reviews?” Now of course she must have been well aware she wasn’t on a salary, but of course it sounds better to blame your publisher for cutting your pay check rather than to acknowledge that your books weren’t selling as well as had been expected. “My editor, a real gem who believes in my work . . . advocated hard for me” she tells us — and this may be part of the problem. It sounds like the editor may have been blinded by optimism. Over-optimism is an occupational hazard for an editor: after all editors have careers too — which depend of the success of their authors. An editor has a vested interest in keeping the idea going that their author is great, and also of course in making the author feel good so that they will keep working without worldly worries getting in the way of writing. We should not be surprised if we hear an editor exaggerating.
Ms Demetrios’s piece is unusual and useful in that it does provide chapter and verse on a subject about which we generally know only generalities. She pays her agent 15%. At the start of her writing career she confesses “One of the most respected publishing houses in the world gave me $100,000 to write two books, one of which was already finished, and I was feeling . . . well, fancy.” I can’t be bothered to research which publisher gave her which advance: she’s been published by Macmillan, HarperCollins and Simon & Schuster. Why exactly an obviously educated person would think her publishers at fault because they didn’t warn her not to spend her advance check all at once, I can’t figure. Why she thinks these publishers are at fault because they failed to find a senior author to mentor her, and thus steer her right, is a mystery. Why her family, including her school-teacher husband, couldn’t be expected to point out that a royalty isn’t a salary, who knows? Anyway her $15 cocktail days are now over, and she’s had to leave the Big Apple, having gained wisdom the hard way.
However wrong one may take her point of view to be, Ms Demetrios does tell a frank and non-self-pitying story. She now describes herself as an author and writing mentor, and her piece may help other willfully blind people to avoid blowing their advances. As a youth I blew my way through a not-insignificant inheritance — hey, have you ever owned a brand new bright red MGB sports car? When the money was gone (part of it it is true as partial down-payment on the purchase of a London flat) I never thought to stand in the Rialto complaining that nobody warned me that after you’d spent all your money, you wouldn’t have any money left. One rather knew that ahead of time. Isn’t that why kids get pocket money?