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This is a question that is difficult to answer without resorting to broad generalities. Each situation is individual and unique.
Nothing's carved in stone. Some models will turn a profit margin...others won't. There are many factors involved. Often the profits are determined by the effectiveness of your marketing. Over the years I've seen average-looking models do very well...yet on the flip side have seen stunning models barely break even (or less).
As to the question of who should make more - I say it comes down to who has the most invested (usually the photographer). Many models these days have unreasonable wage/compensation expectations. Few stop to think just how much the photographer has invested in gear, experience and expertise.
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