The majority of prospective customers ask us a lot of queries concerning the ghostwriting procedure. That seems reasonable considering that, despite our best efforts to illuminate the field, ghostwriting has long functioned as a mystery. First-time authors are usually concerned about costs, and the answer frequently surprises them due to the opaque nature of this industry’s inner workings.

To put it bluntly, the majority of consumers greatly underestimate how much hiring a reputable, experienced ghostwriter will cost. This is frequently the result of their browsing sites like Upwork and Fiverr, which are overrun with inexpensive laborers (typically from poor nations) who may pose as ghostwriters but, in reality, lack credible qualifications or experience in this field. Alternatively, it’s possible that they have investigated low-cost self-publishing businesses that present absurdly low costs for ghostwriter services.

Then there are the increasing numbers of aspiring writers who, drawn by the promise of a free ghost, are investigating AI for writing assistance. However, for the majority of those who do discover this, it is the pinnacle of getting what you pay for. In fact, asking a computer to provide a grammatically accurate synopsis of data inputs is one thing; asking it to design, arrange, and write a captivating, intelligent novel is quite another. The latter is something ChatGPT can’t even begin to replace—it can only be done by a proficient human writing partner.

Here’s a dose of reality that is objective. Over the past ten years, our firm has arranged hundreds of collaborations, so we have a thorough understanding of the industry. Furthermore, based on our experience, you should budget at least $30,000 to $40,000 if you want to work with a professional collaborator to create a standard-length business book, memoir, or self-help guide of high quality. Additionally, be ready to spend at least $100,000 if you’re looking for a writer who has produced many New York Times bestsellers, particularly for thought leadership and business initiatives.

What drives that cost? Two key drivers: talent and time.

First of all, it’s difficult enough to write a book that’s fifty thousand words or longer. However, not many people are capable of crafting a narrative that will enthrall readers and/or propel a thought leader into the upper echelons of society. An even more unusual talent is being able to identify a book’s killer hook and develop it into a proposal that will entice a major trade publisher to offer a sizeable advance. And then there’s the exquisite skill that the majority of elite ghosts possess: persuading an unwilling writer to expose themselves and divulge their deepest memories and ideas.

When you add it all up, it becomes clear why professional ghosts are in such great demand and can fetch rates between the high five and low six figures.

Then add in the considerable amount of time ghost writers usually spend writing a high-caliber book. Now, some new writers have done a great deal of in-depth research, polished a plan, gathered references, and maybe even written a few rough chapter drafts. However, the vast majority are essentially beginning from scratch. And in certain situations, the majority of the preparatory work—which frequently requires several months before a word is written—will fall on the ghost to assist, if not completely execute. Then there is the time-intensive work of producing first drafts, multiple rounds of revisions, and fact-checking sensitive information.

The result? On average, a writer is devoting at least half of their available work life – if not more – to a given project over the course of six to nine months.

In the interest of candor, you will note that we have included multiple qualifiers, and that is on purpose. Let me start by saying that our opaque market lacks standardization. In addition to charging differently, different ghostwriters with varying credentials frequently charge drastically different prices for their work. Second, there is a wide range in the scope and timeline of projects involving collaborators, contingent upon factors such as the amount of research required, the author’s desire for a proposal to be completed ahead of time, the extent of revisions to be done, the presence of a rush component owing to an external deadline, etc.

But based on our experience, we can share some established pricing tiers that authors can expect to pay to engage an established ghost.

Basic: The average price to hire a competent, professional, but perhaps less experienced ghost to do a straightforward memoir, business, or prescriptive book is $40,000 to $60,000.

Mid-Market: Hiring a ghost who has written books for major publishers to produce a more time-intensive work costs between $75,000 to $150,000.

Elite: A collaborator who has written multiple New York Times bestsellers can charge anywhere from $150,000 to $300,000.

How ghosts get paid also varies to some degree. But for the most part, authors can expect to pay a flat project fee, usually broken down into between two to four installments, the final of which is usually paid upon their delivery and acceptance of the completed manuscript to the author — not publication. One way that most ghosts DON’T get paid is through profit-sharing. We have had many prospective authors come to us saying they want their partner to “have some skin in the game” and propose to split the book’s sales revenue as partners. We inevitably have to explain to them that unless you are a big brand-name author like Prince Harry or Jack Welch, there won’t be any profits to split – and as such, no ghost worth their salt would work without a guaranteed fee.

Ultimately, the majority of our clients see the importance of spending money on high-quality services in other spheres of their lives. A high-quality service involves spending money to convey the tale of their lives, companies, or areas of expertise. Paying for other essential services is not something that most prosperous business owners or professionals skimp on, and hiring a ghostwriter is no exception.