Anonymous comment I received via email from an agent (shared with permission): "It's a great breakdown of the endless uphill climb that is agenting. I hope a lot of people see it! It's often hard to explain to folks that while my early career does seem to look successful from the outside, and I am selling books and having some of them work, I'm still on a super strict budget to even make ends meet."
I was getting really excited about you becoming an agent! As an author, I have definitely wondered how agents can survive on the commission. It's a demanding job for sure!
This is an excellent post on the real math around literary agents and income, and it explains a lot about the overwhelming rate of rejection writers face when seeking an agent for their work. I wish I'd already read this when I wrote this morning's post on rejection! Again, math does not lie. Thank you, Leigh, for this helpful and clear accounting!
Thank you for this, Leigh! I love frank conversations about money. And also frank conversations about writing and the book industry, so this was such a wonderful read.
omg. jesus. i've always had sympathy for agents but this math is just mind-boggling. esp. when you consider all the agents living in NYC, which is SO expensive! wow. thank you for shedding light.
totally! my agent doesn’t live in NYC and I hope more writers will feel comfortable with agents outside the city (they are doing the same job the NYC agents are doing!)
This is the most cogent explanation of the economics of agenting. As an agent of 18 years and an editor before that, I can only say that this a public service for any writer who believes that agents are killing it. We are — at least most of us — in the trenches with our clients. Thank you!!
As someone who doesn’t write for money, I do appreciate the candor. This is why your writing hits for me and I appreciate it. Look forward to hearing from some agents in the comments! They should write about it. I’d read it.
I always wondered about the agency/agent split and how junior agents get started. Thanks for these details! I’ll share this post with writers who are frustrated with the agent-seeking process. Perspective!
I've always wanted to be an agent, but the financial realities (not to mention the legal acumen sometimes necessary) were a huge deterrent. This is super helpful and illuminating. This industry though...it can be so discouraging.
Great breakdown, Leigh. Kenneth Whyte, publisher of Sutherland House Books, a nonfiction indie in Canada, and author of the excellent ShuSH Substack, has come to a similar conclusion: in most cases it will take any new publishing company about five years to start making money. A long time to wait! Maybe when I win the lottery I'll be able to give it a go.
Is there some sort of in-between role between being a full-time agent and freelance editor/writer, or could there possibly be? Several books or proposals I've worked on have sold (albeit to small publishers or university presses), and I have lots of lots of ideas for books that, having also worked in publishing for 15 years, I think could be commercially viable. Does any agency hire, say, domestic scouts?
The other way to do it would be to negotiate a contract with an author upfront, so that instead of paying you a fee for your services, they would agree to split the advance and royalties with you in some way (but then there's the same risk of being an agent—you could do all the work up front and the book doesn't sell).
I really appreciate this breakdown. Very interesting to see how this works. Are you able to do both book coaching and be an agent at the same time? I’m guessing if you could you probably wouldn’t have the time to take on such a thing anyway? I really just don’t know much about this side of the business, but interested especially after reading Robert Gottlieb’s memoir.
that’s what I would have had to do: continue coaching while I built my list as an agent. it’s not IMPOSSIBLE but it would take a lot of time and energy AND I would have to draw clear ethical lines between my two businesses, or else people might get Mad Online that I’m charging money to represent clients as an agent (which goes against professional standards)
Thanks for this thoughtful analysis, Leigh! I realize I knew almost nothing about the nuts and bolts of this process. You presented it all so clearly, with such a compassionate, open perspective. You gave me a much deeper appreciation for all the agents out there, big and small, and what it takes to do their job well.
Anonymous comment I received via email from an agent (shared with permission): "It's a great breakdown of the endless uphill climb that is agenting. I hope a lot of people see it! It's often hard to explain to folks that while my early career does seem to look successful from the outside, and I am selling books and having some of them work, I'm still on a super strict budget to even make ends meet."
I was getting really excited about you becoming an agent! As an author, I have definitely wondered how agents can survive on the commission. It's a demanding job for sure!
to be honest, I think many agents have support from spouses or family wealth they can supplement their income with
This is an excellent post on the real math around literary agents and income, and it explains a lot about the overwhelming rate of rejection writers face when seeking an agent for their work. I wish I'd already read this when I wrote this morning's post on rejection! Again, math does not lie. Thank you, Leigh, for this helpful and clear accounting!
Thank you for this, Leigh! I love frank conversations about money. And also frank conversations about writing and the book industry, so this was such a wonderful read.
me too!! there used to be an online magazine called Scratch about writing and money
omg. jesus. i've always had sympathy for agents but this math is just mind-boggling. esp. when you consider all the agents living in NYC, which is SO expensive! wow. thank you for shedding light.
totally! my agent doesn’t live in NYC and I hope more writers will feel comfortable with agents outside the city (they are doing the same job the NYC agents are doing!)
This is the most cogent explanation of the economics of agenting. As an agent of 18 years and an editor before that, I can only say that this a public service for any writer who believes that agents are killing it. We are — at least most of us — in the trenches with our clients. Thank you!!
Betsy, THANK YOU!
As someone who doesn’t write for money, I do appreciate the candor. This is why your writing hits for me and I appreciate it. Look forward to hearing from some agents in the comments! They should write about it. I’d read it.
Kate McKean has a great Substack if you want to hear directly from an agent: https://katemckean.substack.com/
I also recommend the substack of agent Anna Sproul-Lattimer (sp?).
I always wondered about the agency/agent split and how junior agents get started. Thanks for these details! I’ll share this post with writers who are frustrated with the agent-seeking process. Perspective!
thank you!
This is fascinating. Thank you for laying all this out.
thank you for reading!
Thank you for such an interesting look behind the curtain!
(& thank you, agents, for all you do.)
I've always wanted to be an agent, but the financial realities (not to mention the legal acumen sometimes necessary) were a huge deterrent. This is super helpful and illuminating. This industry though...it can be so discouraging.
Great breakdown, Leigh. Kenneth Whyte, publisher of Sutherland House Books, a nonfiction indie in Canada, and author of the excellent ShuSH Substack, has come to a similar conclusion: in most cases it will take any new publishing company about five years to start making money. A long time to wait! Maybe when I win the lottery I'll be able to give it a go.
Is there some sort of in-between role between being a full-time agent and freelance editor/writer, or could there possibly be? Several books or proposals I've worked on have sold (albeit to small publishers or university presses), and I have lots of lots of ideas for books that, having also worked in publishing for 15 years, I think could be commercially viable. Does any agency hire, say, domestic scouts?
Many agents support themselves by doing freelance editing on the side. In 2022, the AALA changed their code of ethics to permit this: https://www.publishersweekly.com/pw/by-topic/industry-news/publisher-news/article/89413-aala-expands-membership-criteria-updates-canon-of-ethics.html
The other way to do it would be to negotiate a contract with an author upfront, so that instead of paying you a fee for your services, they would agree to split the advance and royalties with you in some way (but then there's the same risk of being an agent—you could do all the work up front and the book doesn't sell).
Thanks, Leigh. I’ve thought about the latter option in the past, but never too seriously. Maybe it’s time to reevaluate things?
Fascinating and terrifying. Agenting is such a mystery I never considered doing the math on before. I just assume they’re all fabulously rich.
All your books are "hits" to me. You manifest everything you write so I can't wait to read Your Hit - it's coming!
Carey!!!! 🥹 this made my day
I really appreciate this breakdown. Very interesting to see how this works. Are you able to do both book coaching and be an agent at the same time? I’m guessing if you could you probably wouldn’t have the time to take on such a thing anyway? I really just don’t know much about this side of the business, but interested especially after reading Robert Gottlieb’s memoir.
that’s what I would have had to do: continue coaching while I built my list as an agent. it’s not IMPOSSIBLE but it would take a lot of time and energy AND I would have to draw clear ethical lines between my two businesses, or else people might get Mad Online that I’m charging money to represent clients as an agent (which goes against professional standards)
Yeah, that’s understandable and makes a lot of sense.
Thanks for this thoughtful analysis, Leigh! I realize I knew almost nothing about the nuts and bolts of this process. You presented it all so clearly, with such a compassionate, open perspective. You gave me a much deeper appreciation for all the agents out there, big and small, and what it takes to do their job well.
thank you Katie!