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In literary fiction, an MFA matters. Anyone who says it doesn't hasn't been around literary fiction very much. This doesn't mean you can't sell a literary novel without an MFA. Of course you can. But you absolutely will be taken seriously much easier in the right places if you have an MFA. That's just how it is.
Lacking an MFA, any degree along these lines matters.
The best way to think of an MFA is that they work just like really good credits. An MFA won't sell your novel, but it most certainly will get you read faster, by the right people, and chances are that whoever does the reading also has an MFA.
IT really is a sign that you've not only studied literary fiction in a serious manner, but also a sign that you can make your way through a tough program by writing it.
But this:
We're pretty aware of the state of the diminishing publishing industry, hence the increased risks imposed by taking on new authors.
Is not even remotely true. The state of the punishing industry is not diminishing, and not only is there no increased risk by taking on new writers, about three seconds of actual research shows it's pure nonsense. I don't where such fallacies oroiginate, but they certainly don't come from knowledge.
Lacking an MFA, any degree along these lines matters.
The best way to think of an MFA is that they work just like really good credits. An MFA won't sell your novel, but it most certainly will get you read faster, by the right people, and chances are that whoever does the reading also has an MFA.
IT really is a sign that you've not only studied literary fiction in a serious manner, but also a sign that you can make your way through a tough program by writing it.
But this:
We're pretty aware of the state of the diminishing publishing industry, hence the increased risks imposed by taking on new authors.
Is not even remotely true. The state of the punishing industry is not diminishing, and not only is there no increased risk by taking on new writers, about three seconds of actual research shows it's pure nonsense. I don't where such fallacies oroiginate, but they certainly don't come from knowledge.