With the advent of the self-publishing craze in the past decade, it is becoming increasingly popular for people to try their hands at becoming an author. More and more writers are entering the field in the hopes of gaining stardom alongside the J.K. Rowlings of the world.
But does this saturation of the market mean that authors are earning less? Let’s take a look at what authors earned in previous years and then compare that to the most recent data from 2018.
In 2016, the Bureau of Labor Statistics reported that writers and authors – which the BLS considers as a single occupation – earned an average annual wage of $71,920.
Of course, this amount was slightly skewed with the success of bestselling authors like Stephen King and Dan Brown. However, the BLS reports that the median was a cool $61,240. The lower 10 percent of professional writers and authors earned just less than $30,000 in 2016. Those in the top 10 percent earned upwards of $118,000.