Who understands the publishing industry?
My daughter has been a freelance writer for about 7 years. Before that, she worked for a couple of magazines writing articles. All of that paid the bills, but like any writer, she wanted to write the "Great American Novel." As it turns out, she had been working on the GAN and it was recently picked up (via a literary agent) by a major publisher. She got an advance which blows my mind (although she has to produce the follow-on novel as part of the deal.)
I won't reveal the number, but if anyone knows about publishing, what are the low, medium and high advances that budding new authors get for novels? (I recently read in the NYT Review of Books that some guy got a $1M advance for his first novel and that a figure like that was unprecedented.) My daughter's advance is a lower but, to me, an amount that makes me think she is on the literary fast track.
Can anyone give me an perspective on this?