Showing posts with label how do models get paid. Show all posts
Showing posts with label how do models get paid. Show all posts

Sunday, September 29, 2019

The Business of Modeling: Money, Money, Money


“Coco Rocha, a model who has a management and ownership stake in Nomad Mgmt Modeling Agency and has served as brand director, works with models to help them develop strategies for their careers. She spoke to WWD about the lack of financial transparency in the modeling industry.

The bottom line? Models needs to read their contracts carefully and take the time to understand what they are signing.”  Lisa Lockwood, WWD


The business of modeling is just that: a business.  Supermodel Coco Rocha has evolved her career into sharing her expertise with new models both in front of the camera and on the business side of a model’s career. Her Coco Rocha Model Camp not only teaches models how to pose and model creatively, she also shares her knowledge of the enormous role social media now plays in a modeling today, and how to treat a modeling career as a business.  Agencies all over the world have had decades of developing a system by which a model is never fully aware of her earnings, debts to the agency for expenses, claimable taxes, or what the model’s rights and responsibilities truly are.  It is intentional and often models are made to feel that it will affect their work prospects if they ask for clear accounting on a regular basis, and in most cases the only explanation of accounting is in the initial contract a model signs when they agree to representation by an agency.  The onus falls on the model, often a teenager, to either agree to how the system operates, or to step back and reconsider working with the agency.  It isn’t right and without the industry taking a strong stand on clear accounting practices, it is up to the model to be informed, educated, and where possible well-advised by an independent accountant or lawyer. Getting paid for work and having receipts for expenses is tougher than you think in modeling, not to mention having everything needed for tax preparation.  No one, including legendary supermodels has escaped this complicated system unscathed, and Coco is seeking to inform models by explaining how it currently works and how to protect themselves as best they can.  In many cases agencies are not the cause of a delay in payment but a client that has not paid the agency.  Agencies bill on behalf of the model and often spend time and resources chasing payment themselves.  Of course this delay is past along to the model. Modeling is a business and being just a beautiful, talented model in front of the camera isn’t enough. Coco answers questions about financial responsibility, both on the side of the agent and model, and gives advice for managing this aspect of a model's career in her interview with Lisa Lockwood for WWD:





                                                                XOXO  Shelley



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