Today's Economic Model
Bookmark and Share
IA_cristina_face3How does the economy affect the modeling industry? This is a good question that every model should consider. To view the fashion industry as independent and unshakable would be naive and incorrect.

In the aftermath of September 11, modeling jobs in New York City were scarce. Many agencies were forced to close after years of business and models were migrating to other markets in order to find work. It was a difficult time that really made me think how closely connected the fashion industry was to the economy and national events. My first glimpse of this reality began when
First, you should always make your education a priority. Do not use your opportunities in the modeling industry as an excuse to not concentrate on preparing yourself in another field.
I first started modeling in Tokyo, Japan. A recession was plaguing Japan's economy at the time and bookings were not as plentiful as they were in the past. In the early '90's, the Japanese modeling market was booming for American girls, and it was not unusual to make in excess of $60,000 (US) during a two month contract. At that time it was rare to see Japanese models in their own advertising. When Japan's economy fell into recession, rates began to drop and Japan's dependency on foreign models began to wane. While girls from America and other countries still flock to Japan for work, it is no longer the financial windfall it once was.

economic modelSix years later, after September 11th, I was facing a similar situation in New York City. While many companies ceased advertising and waited for an upturn in the stock market, others chose to shoot their advertisements elsewhere. Work was in short supply and the industry as a whole was struggling. Daily rates were on a downturn and agencies were under-bidding others to get bookings. Companies were re-running older advertisements and turning to stock photography to refresh their campaigns. This struggle continued until falling interest rates breathed life back into the economy and hope back into consumers. Now models and agencies are on the rebound and advertising is at an all-time high. Main events such as the Presidential Election and the Summer Olympics have even further encouraged this surge. But what does the future hold for models? Unfortunately, the current trend will not last forever. You will need to prepare yourself for these uncertain times if a profession in the modeling industry is your goal.

First, you should always make your education a priority. Do not use your opportunities in the modeling industry as an excuse to not concentrate on preparing yourself in another field. I pursued my master’s degree in Criminal Justice before venturing toward a modeling career. I suggest you explore your other interests and educate yourself. This knowledge will not only make you a well-rounded individual, but will also serve as a safety net during any fluctuations in the economy and trends in the market. You should also consider a field that you can pursue in conjunction with modeling. I know many models that are also photographers, makeup artists, stylists, real estate agents, etc. You can even consider starring your own business. This will not only foster a consistent income while your modeling career gets underway, but will also take the strain off your "having" to obtain bookings to support yourself. I have come to believe that clients can sense desperation. When you are confidently making money elsewhere your bookings will likely be more abundant. Remember to always use the money you earn modeling wisely by saving or investing. This will prepare you for the future and shelter you from any slow seasons. If you spend Y9ur money on expensive clothes, cars, vacations etc. you will surely regret it when you are no longer working.

Now the next time you turn on the news and find that the stock market has fallen, interest rates have gone up or consumer spending is down, consider how this may affect you individually and prepare yourself appropriately.

Select: most recent | by category