One more reason (or several, depending on how you see it) why photographers make more than models is that, as I sometimes explain to girls who ask about this, "Where were you when I found the clients? Where will you be once the product has been shot and post production work begins? Where will you be when I need to buy a new camera or add on a new technology? You can take the money and walk away. For me, I've already put time and money into it and there's still a lot ahead of me. In general, the models aren't interested in this aspect.
However, there are exceptions. Currently, one of the models I've worked with recently is receiving a lot of guidance training from myself and another photographer because she is very interested in learning all this stuff. She's very smart, she's a quick learner, and she will be paying girls $50 an hour someday, if girls will work for that, because that's the only rational way to run a business.
Furthermore, the world is full of pretty girls much moreso than talented photographers. Thus, models are a commodity more than photographers are. Since I have the client(s), if a discussion breaks down the client generally doesn't ask the model if she knows another photographer, he asks me what other models I might know.
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