100 Cents Press
| Status | In Funding |
|---|---|
| Founded | 2020 |
| Founder | Jenn Lien |
| Country of origin | United States |
| Headquarters location | Boulder, Colorado |
| Distribution | National |
| Key people | Jenn Lien (Founder) Allie Rigonati (Co-Founder) |
| Publication types | Books |
| No. of employees | 1-50 |
| Official website | 100centspress |
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100 Cents Press is a fair practice publishing company formed in 2020. It was founded by a small team of professional book editors who advocate for fair author royalties and salaries commensurate to market rate for its employees in the United States. The company name alludes to its overarching goal: to close the gender wage gap in a highly feminized industry by paying women 100 cents for each dollar their male counterparts earn. Women today earn only 81 cents compared to men.
The publisher’s list includes fiction and nonfiction for adults and children in both print and digital formats. 100 Cents Press practices wage transparency and prioritizes diversity in its workplace.
History
100 Cents Press is the first publisher to incorporate standardized above living wage salaries for all employees. The company was inspired by a publishing survey[1] that discovered the average salary for experienced publishing employees was $39,400, which is barely over the US living wage.[2] Considering the competitive nature of the industry and a high frequency of graduate degrees amongst employees, industry-wide low pay has become a topic of concern. Many argue that low pay is both the cause and effect of concerning minority underrepresentation in the industry [3]
Most notably, big publishers came under heavy criticism in 2018 when market data showed the books industry to be doing well, leaving little explanation for widespread low pay for working class employees. Analysts suggest that a highly feminized workforce and disproportionately high executive level salaries are to blame.[4]
Low wages combined with expensive cost of living (in metropolitan areas where major publishers are located) also contribute to a lack of diversity in the industry, making the need for fair publishing practice even greater. By incorporating fair practices, 100 Cents Press strives to increase diversity for both employees and published voices.
Status
100 Cents Press is currently obtaining funds to cover employee wages and author advances while the team builds its books list and begins generating revenue.
References
- ↑ Bookseller, Pearson (June 26, 2020). "Book Publishing Salary Transparency". The Bookseller. Retrieved October 10, 2020.
- ↑ "New Living Wage Data". MIT. March 3, 2020. Retrieved October 10, 2020.
- ↑ "#PublishingPaidMe: Authors Share Their Advances To Expose Racial Disparities". The Guardian. June 8, 2020. Retrieved October 10, 2020.
- ↑ "The Book Industry Isn't Dead. That's Just an Excuse To Keep Salaries Low". The Guardian. March 28, 2019. Retrieved October 10, 2020.
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