For today’s post I’d like to bring back author Nancy I. Sanders. Nancy has written dozens of work-for-hire as well as royalty-based books, so I thought she would be a great person to help explain not only the differences with these two types of publishing but also the pros and cons.

Please welcome Nancy back to my blog…

It’s great to be visiting your blog today, Renee! Thanks for asking me to participate in a discussion about work-for-hire contracts versus royalty contracts.

Many passionate opinions abound as to whether or not a writer should sign a work-for-hire contract. A work-for-hire contract basically means that you agree to write a manuscript and give away all rights to it. Your manuscript becomes the property of the publisher and as such they can do whatever they choose with it. Many writers feel passionately that work-for-hire contracts should never be signed.

On the other hand, some writers love the world of work-for-hire publishing. Assignments can come at a steady pace. Deadlines are fast and furious. Nice paychecks arrive in the mail on a frequent, regular basis. These writers usually don’t like royalty-based contracts because they’ve learned from experience that it may take years for cash to trickle in from royalties on a book that doesn’t sell well.

Work-for-hire can be a great source of quick cash in the world of publishing, but it might be to your advantage to establish a balance of work-for-hire contracts along with royalty-based contracts. In between your work-for-hire contracts, take time to query publishers who offer royalty-based contracts. If you can land contracts for several royalty-based contracts each year, along with several work-for-hire contracts, it can help you financially in the long run. The beauty of writing royalty-based contracts, other than the all-important reason that you get to keep the copyright to your own work, is that over the years, as you build up your published credits, the royalties start adding up as well.

Stop back tomorrow and we’ll discuss some of the benefits—yes there are actually benefits!—of signing work-for-hire contracts.

Nancy I. Sanders is the author of the ground-breaking new book, Yes! You Can Learn How to Write Children’s Books, Get Them Published, and Build a Successful Writing Career, Award-winning Finalist of the National Best Books 2009 Awards. http://www.YesYouCanLearn.wordpress.com