How rich models are?

Other than living a glamorous lifestyle, do models really make "a lot" of money? In most of the cases the answer is yes, and, no. Let's be clear about one point to start, the vast majority of models work on a part time basis. Only a small percentage model full time, and these almost always live in the major modeling markets of the world such as New York, LA, London, Paris and Milan.

If we consider the rate matrix hourly Rate as Freelance in Major Market is $40 and in small Market $40 and Day Rate as Freelance in Major Market $350 and in Small Market $350. Where as for model agency representatives hourly Rate in Major Market is $375 and in Small Market is $150, Day Rate for them in Major Market is $3000 and for Small Market $1200.

It is clearly visible from the Rate Matrix that there is a significant difference in rates between freelance models and agency represented models, and, between rates in small markets versus major markets. Of course, these are generalized average rates and can vary significantly depending upon circumstances. The rates in this matrix are only for the actual photo shoot and not for what are called usage fees. Usage fees are dependent on what the images are going to be used for. For instance, if the images/photos are going to be used in a national ad campaign where they will be seen by millions of people then the usage fees alone can run into the tens of thousands of dollars. This is in addition to the photo shoot fee. Actually in many cases the usage fees are much more than the photo shoot fee. For agency represented models usage fees are negotiated in advance of the photo session. This is not the case for freelance models where the clients usually have very small budgets and rarely offer. Hourly rates of $350, $150, or even $40 seem good. One must realize that these rates are only on the jobs the model actually books. You must take into account all the auditions the model goes out on and does not get. In case model books every third job they go out on, the rate must be prorated over the entire time spent, bringing down the average hourly earnings significantly. This is in addition to any money spent on gas, food, and travel.

It is not difficult for models in the smaller markets such as Seattle, Dallas, San Diego, Chicago, or Miami to make around $30,000 a year. In the major markets compensation in the hundreds of thousands is common. In the event that a model is asked to model in Europe or Asia they should be aware that many agencies take over 50% commission plus expenses thereby leaving the model almost nothing by time they return to the US.