Authors taking pay cuts as advances fall

UK authors have seen their advances drop over the past year, with some facing cuts of as much as 50% on new book deals. Iain Banks spoke publicly about taking a pay cut, ­telling the Guardian: "I'm getting less money for my next book contract. But I've heard of writers having their advances cut by 80%, and others ­getting nothing."

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Inside this month's Bookseller & Publisher Magazine

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