Thinking of paying royalties to ghostwriters?
If they accept royalties as a payment option, then go ahead. If you’re being fair or not when you’re offering them royalties for ghostwriting services is another story.
So let’s discuss what you need to know. By the end of this post, you’ll find out whether it’s fair to pay ghostwriters royalties for their work. This way, you’ll get to the bottom of things if you’re thinking about using royalty payments.
Do ghostwriters get royalties or not?
Ghostwriters don’t accept royalties as a payment option for their services. That’s how the general rule goes, anyway.
And paying a ghostwriter for their services is both simple and practical. So why would you want to complicate matters and propose to pay royalties?
To elaborate on this concern, let’s check out what dictionaries have to say about royalty. Encyclopaedia Britannica, for one, explains that in law, royalty is a payment option.
Wondering how royalty payments work, though? Then here are some points to ponder:
- Basis on product performance – How is the product doing? Royalty payments will depend on how much of the product is sold.
- Basis on royalty percentage agreement – For example, the average starting royalty percentage is 5%
- The need for a royalty contract – A detailed description of the ghostwriting arrangement prevents feud. This includes the coverage, and limitations involved in the work.
However, this was back in the day. Nowadays, if you insist on paying royalties for services, you’re somewhat asking a ghostwriter to work for free. And don’t you think it’s unreasonable?
Remember, a ghostwriter can’t pay their urgent bills with the promise of royalty payments. That, and they wouldn’t be able to support their daily lifestyle.
If you want to offer royalties to a ghostwriter, here are some practical advice:
- Supplementary royalty payments – Offer royalty only after providing monetary rewards. Let royalty payments serve as extra compensation or bonuses.
- Guarantee of success – Is the success of the content you’re publishing set in stone? Then there’s a guarantee of recurring income, which you can give to a ghostwriter.
- Passion project – Does a ghostwriter love working on a project? Are they 100% willing to accept royalty as a payment option?
Related post: Do Ghostwriters Get Credit or Not? The Real Answer
And do ghostwriters get credit too?
In most cases, no. Ghostwriters don’t get to claim a published work is theirs without their client’s consent. Even if every word is theirs, they can’t “own” it.
Professional ghostwriters are aware of this. So if you’re working with a professional ghostwriter, there’s nothing to worry about.
Besides, regardless of getting credit for their work, other rewards are waiting for them. Here’s a look at some of these:
Freedom to work
Ghostwriters, like most freelance writers, can work anytime and anywhere they want — if their client is good with the setup. As long as they meet their client’s expectations about a project, they’re free to hustle however they wish.
And beyond the benefits of a highly autonomous work setup, here’s how awesome their freedom to work extends:
- Unlimited earning potential – No fixed income. They can earn more if they take on more work.
- Stable work – Written content isn’t losing value and so the work for ghostwriters is always going to be present
- Ability to choose projects – Don’t like a project? Without a boss to force them to work on it, they can choose to decline an offer.
Ability to network
With every client ghostwriters work with, they meet people. And to those acquaintances, they can shake hands with potential clients. The more clients they score, the bigger their network becomes.
Here are some tips on how to help them get more out of networking:
- Commit to leveling up – Adopt the right mindset, be sociable, and be engaging. You can also devote an hour per day to grow your network.
- Attend events – For example, your town is hosting a small party for businesses that are relevant to your niche. So be there!
- Seek exemplars – Connect with individuals who are successful and praise-worthy
Opportunity for advancement
Ghostwriters can apply their experience in working on writing projects to real-life situations. And in turn, these newfound skills can help further their career and improve their lives.
Let’s shed light on the matter above – the ability to network – to cite an example. You see, building a network of social connections is a lot like writing content that you want audiences to vibe with. And that isn’t easy.
For one, it takes having a pleasant attitude to give other people reasons to associate with another.
Beyond that, here are some valuable non-writing skills that they can learn with every work opportunity:
- Time management – They learn to manage their time better and set priorities. For example, they understand it’s best to allot 3 hours per day for a project.
- Organizational skills – Dumping loads of work then expecting them to attend to everything isn’t an effortless task. Experienced ghostwriters can handle it, though
- Listening and comprehension skills – Over time, ghostwriters get better at understanding clients
One of the main reasons ghostwriters gets into ghostwriting is high monetary compensation. If they can write and use it to embody another person’s writing style, they can live comfortably.
However, while ghostwriters are tied to good pay, it doesn’t mean there’s a cookie-cutter approach to this. Remember, each ghostwriter sets prices differently. This can depend on the category of ghostwriters they belong to.
Some ghostwriters charge fixed fees. This benefits you if you have a lengthy project for a professional ghostwriter like 20,000-word e-books. This way, you can just give them a project, expect them to deliver high-quality output, and pay them a set price.
If they’re novice ghostwriters who could still use writing advice, they might not charge much. However, if they’re high-end ghostwriters with years of experience up their sleeves, they can charge high fees.
Here’s a lowdown on the average annual salary of ghostwriters based on experience:
- $5,000 to $9,000 range – This is the average rate of ghostwriters with about 3-5 years of experience
- $9,000 to $20,000 range – If they have about five years up to a decade of experience in ghostwriting, expect to pay this
- At least $20,000 – If you’re on the lookout for professionalism and experience, go for ghostwriters with over 10 years of experience. Then expect to pay them compensation in this range.
However, a ghostwriter’s can base their fees on a per-word or per-page rate. Especially if they prefer to work as freelancers, they’ll charge you differently.
What makes this pricing system a suitable fit for you? Well, if you have a quick project that can be completed in less than a week, this kind of ghostwriting work is what you should aim for. Examples are a 1,000-word blog post and a brief two-page case study.
In this case, here are the factors that also come into play:
- Level of difficulty – If your project requires the need to delve into complex subjects, be ready to pay a ghostwriter high for it
- Word count – You’ll have to pay based on the length of your project
- Urgency – Want ghostwriters to work on a time-sensitive project? Then expect to be charged a higher amount.
Summing it up
What matters the most is that you and the ghostwriter you’re looking to hire come to an understanding. In the ghostwriting business, paying royalties isn’t standard practice.
However, it’s not wrong to consider proposing it to a ghostwriting professional. If they refuse to accept it as a primary payment option, then the discussions above should help you see their point. Now, if you want to know how to proceed on how to offer royalties, the discussions above also have your back.
Still have questions about royalty payments? Then you’re welcome to contact me!
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