The perilous economics of high-class modeling
In the world of high fashion modelling, the rewards afforded the best-of-the-best are well documented.
Kate Moss. Gisele Bündchen. Heidi Klum. All these women, based on their looks, personalities and marketability, rake in somewhere north of $10 million ($25 mil if you’re Gisele) each year.
But maybe that’s where the glamour stops. According to one new report, in-demand models have no problem stuffing their pockets with cash, but for the rest of the ubiquitous, often homophonic industry, talent likely has trouble making ends meet.
Economist Howard Steven Friedman tells the Huffington Post as much in a recent article detailing the gruelling financial side of glamour modelling – and the daunting obligations many runway figures owe to their agents and agencies.
Indeed, while most models – well, okay, not Venus Williams – have seemingly hit the genetics lottery, cashing out on the prize may not be so easy.
Friedman cites a scene (video here) in the upcoming documentary Picture Me which shows young model Sena Cech outlining her financial debts to her agent.
“I am in huge debt on my credit card because I’ve been paying for my own food, clothes and travel,” Cech, who has been modelling for two years, says in the video. “I’m still in debt to every single one of my agencies. They fly you (to overseas bookings), they charge you for your plane ticket, so that goes on your debt.
“When you first get here, they hire you a driver to get you to your apartment, so that goes on your debt. Your apartment goes on your debt.”
Cech also explains that agents organize for expensive photo books of models to be copied and sent out to industry officials for consideration, another high cost passed onto fledgling models and profited on by their representatives.
Now, there’s obviously some irresponsibility here on the part of models (why should they accept drivers and similar perks, especially when their agents take in a percentage of each transaction?) but there is a more alarming fiscal reality facing young men and women in this trade.
Namely, that they aren’t worth much.
“With the fresh crop of new aspiring models arriving regularly, the young talent is paid ‘new girl rates’ and soon discarded,” writes Friedman. “The high turnover rate in the industry keeps entry level modeling salaries down much like in other, less glamorous industries.”
So, if you’re scoring at home, it pays to be Brooklyn Decker, Adriana Lima or an agent in this biz. Most things short of that, though, and you might not be able to pay the rent.
By Jason Buckland, MSN Money
Posted by: Nabi | Sep 20, 2021 1:31:55 PM
Well, it's a pretty dumb occupation. isn't it? A few people can always cash in on dumb but not everone should expect to.
Posted by: Rosalyn | Sep 20, 2021 7:15:07 PM
It's true that it can cost alot to get into the industry,but if an agency REALLY wants you or thinks you have alot of potential they are willing to wave some of the little "costs" that add up.I was approached by a agency,then found out i'd have to pay $1000 for "classes" like teaching me how to walk (which i've been doing just fine since i was 2) and said i couldn't afford them,they said they were willing to wave the fee for me.I also was allowed to use my own photographer- @ half the cost of what the other girls had to pay for their Portfolios.As for the expensive trips,if i feel its not going to financially benefit me i just don't go,we can say no! Then some of those exspenses are "written off" as well.If a agency thinks you truly have potential to make them money,they will pick up the tab.
Posted by: Rick S | Sep 21, 2021 11:34:58 PM
Nothing nicer than a nice looking lady so I wish them all good luck and riches.
Too bad they have to jump through all them hoops just to get a foot in the door.
I know one young lady that is trying to screw her way to the top and it's not really working out that well. She makes good money but it seems she can't get out of that rut. Most likely she will get dumped when new tallent shows up. I feel sorry for those young ladies.