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If you're the author and illustrator, you'll get to keep the full royalty rate, which would be similar to above: around 10% with possible benchmarks that will raise it to around 15%. If you're only the illustrator, the royalties will be split equally between you and the author.
In self-publishing, the author usually pays a flat fee for the illustrator's services, rather than ongoing royalties. When the project is complete and payment has been made in full, the contract specifies that the copyright for the images is transferred to the author to publish, market, and sell their book.
Bestselling author Joanna Penn estimates that the average pay for a 32-page picture book is $3,000 $12,000, meaning a 32 page book with 20 illustrations equates anywhere from $150 to $600 per illustration. Publishing expert Anthony Puttee estimates a slightly lower standard rate of about $120 per illustration.
In self-publishing, the author usually pays a flat fee for the illustrator's services, rather than ongoing royalties. When the project is complete and payment has been made in full, the contract specifies that the copyright for the images is transferred to the author to publish, market, and sell their book.
Picture book illustrators often earn a higher advance than the author, but they generally earn the same royalty percentages. Rather than a lump sum, most advances for picture books are divided into halves or thirds and paid at specified stages of the two-to-four-year editing and production process.
The short answer is the copyrights are yours! Unless one of three things happen: you work as an employee and illustration is part of your job. your illustration contract contains a work-for-hire clause.
We agree to pay an author/illustrator an advance against royalties. A proportion of this is paid when we sign the contract with the author/illustrator; a proportion is paid on the delivery of the work that they've agreed to do; and a proportion is paid on the publication of the book.
So you'd quickly be found out and an author/illustrator who feels cheated by their publisher isn't a happy author. It's worth saying, of course, that, agents take a percentage (10% 15% of the author/illustrators earnings from publishers as a rough rule).
Under standard royalties, an author gets roughly 20 to 30% of the publisher's revenue for a hardcover, 15% for a trade paperback, and 25% for an eBook. So, very roughly, every hardcover release that earns out brings the author something like 25% of all revenue earned by the publisher.
The author's name can be found after the words by or written by. The illustrator's name can be found after the words art by or illustrated by. The author and the illustrator's names can be found on the front cover of the book. Sometimes the author and illustrator are the same person.