The world’s top earning models

But it wasn't just celebrities knocking models out of the limelight. The designers — Marc Jacobs, Tommy Hilfiger, Miuccia Prada — became more famous than their mannequins. Isaac Mizrahi hosted the Golden Globe pre-show for the E! network. Donatella Versace is regularly skewered on Saturday Night Live. A decade ago, a top model might have made $100,000 on a single print campaign for a designer. Now, she will more likely get a small stipend fee, some free clothes, and the honor of an "association" with the famous designer.

But if opportunities for superstardom were waning in the modeling world, the ones who did make it could stay there longer than ever thanks to the advent of retouching. "It's completely stopped the aging process," says Elite agent Richard Habberley, who represents Victoria's Secret model Alessandra Ambrosio (who, at 26, need not worry about that just yet).

Eighties ubermodel Christie Brinkley, at 52, reclaimed her Cover Girl contract and appears none the worse for 20 years having passed. Christy Turlington, 38, and Linda Evangelista, 42, are also bagging new contracts, and look in advertisements almost exactly as they did back in their supermodel glory.

Ivan Bart, a top agent at IMG Models, which represents Gisele Bundchen and Heidi Klum, among others, adds that revenue streams are more plentiful these days: "There are new markets like Asia and China. The world is more global than ever." In March, IMG started a traveling Fashion Week, bringing the runway and top models like Gemma Ward and Naomi Campbell to towns like San Francisco and Houston.

But the fashion world is about nothing if not trends. And trends are cyclical. Already the editorials of Vogue are turning away from the scary skinny models of Eastern Europe towards a healthier-looking and more Americanized standard. Hilary Rhoda is probably the best example of this.

More from Forbes.com Click links below for slide shows Photo shoot with Alessandra Ambrosio Most powerful celebrities Most powerful actors Most powerful actresses Celebrity bad girls

The new face of Estée Lauder grew up in Chevy Chase, Maryland, and played lacrosse and field hockey in high school. Unlike the size zero waifs that have taken over the runway, Rhoda wears a size four or six.

Cosmetics companies could start launching new faces again. In L'Oreal's latest ad campaign, Dutch model Doutzen Kroes is prominently featured next to Eva Longoria.

Models might even be making a comeback as cover girls. Vogue's May issue showcased 10 of the hottest new faces, including three models on our list: Hilary Rhoda, Doutzen Kroes and Jessica Stam. Natalia Vodianova had the July cover to herself. "It was time for Vogue to do a model again," says Patrick O'Connell, a rep for Vogue editor Anna Wintour. "Models are important."

One consistency throughout the past decade has been Victoria's Secret's modeling machine. The $5 billion lingerie giant has launched the careers of dozens of supermodels over the years, including Gisele Bundchen and Heidi Klum and newer bikini babes Adriana Lima, Alessandra Ambrosio and Karolina Kurkova.

It has also steadfastly refused to follow the celebrity trend. "Most celebrities are about five foot two inches," says Edward Razek, the company's chief marketing officer, explaining why he turns down at least one celebrity a month begging to model the brand.

Victoria's Secret takes a similar role in nourishing talent to stardom in the way that Hollywood studios did with actresses back in the 1930s and '40s. A model starts out doing some runway, then advances to catalog, and, provided her professionalism and personality impresses enough people, she might eventually end up with the Academy Award of modeling gigs — a multiyear, multimillion dollar contract as a Victoria's Secret "angel." The company invests time and money into making their angels celebrities — the girls are given speech lessons and media training and booked on talk shows.

If the girls are lucky, they break into supermodel stardom and then, like Victoria's Secret alums Heidi Klum and Tyra Banks, become media moguls. This season, Victoria's Secret even began branding their beauty products with the girls' names and likenesses. "We don't subscribe to that nameless, faceless model routine," says Razek.

MORE FROM FORBES

Forbes Section Front

Dirtiest vehicles on America’s highways The worlds most powerful people The key to dealing with lousy boss: negotiation IRS rules for medical deductions are sickening Tailgate much? These are the rides you need What automakers have in store for 2010 Top-earning dead celebrity? Not Jackson Need to fire someone? Here’s what to do America’s highest-paid female CEOS Cars with the worst fuel economy Forbes Section Front