Tuesday 22 February 2011

Economics explains almost everything

Why do female models earn so much more than male models?

First at all female models receive premium pay because women's fashion is a vastly bigger business than men's fashion.  For comparison women in the West spend more than twice as much on clothing each year as men do so many more female models are needed.
Competition is much harder for women so the prize for winning is being high paid.
Female models are also much more recognizable because they star in clothing and cosmetics  advertisements, they attend fashion shows etc. That makes them more attractive for companies that hire them and makes their salaries go up.

American Forbes Magazine published the top hundred highest-paid celebrities 2007 and five of the world's supermodels were there but no male model. For comparison Gisele Bundchen earned in 2005 more than $ 15 million and another one, the very popular Heidi Klum, earned $7,5 million the same year.

1 comment:

  1. Interesting that when women complain about how they're paid less, it's considered unfair and called discrimination, assuming all employers who pay them less are men, and men with hate against women. But when men complain about being paid less for something, all of the sudden everyone has an excuse for it and no one thinks it's discrimination. That in itself seems flawed.

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