Everyone explores their lucrative career choices at a certain point in their lives. When you’re into sports and management, the choice of sports agents does enter many right minds. A sports agent’s job can be as exciting as anyone else’s. However, some things create a difference between regular jobs and the one of sports agents.
Most career choices have a fixed monthly income, but that is not how a sports agent works. Therefore, most young people ask, how much do sports agents make? After all, income does play a major role in deciding a career. Here are a few pointers that can guide you in what determines agents pay and how much is it.
What Is A Sports Agent’s Job
The main element that determines the sports agents’ pay are the job requirements. What the job entails, brings out the remuneration. Sports agents represent their clients i.e. athletes. Their primary job description involves negotiating the terms and conditions for the contracts of their athletes plus maintaining their taxes. Other parts of the job also involve setting up meetings with league representatives, building clients’ network, and establishing product endorsements.
Besides the pay, the main feature that sets a sports agent apart from the remaining jobs are the working hours. While in a fixed job, you may also have fixed working hours, that is not the case with sports agents. They often have to work round the clock dealing with the athletes’ managerial or financial problems. At other times, it also includes recruiting athletes. It is a career choice that requires complete devotion.
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What Should Be Included In A Sports Agent’s Pay
There are other items that determine the pay for a sports agent. There are mainly 3 elements that you should look into when understanding sports agents’ pay.
The first of these elements is commission. The commission is the percentage of profit that the sports agent earns from the income of their athlete. The higher the athlete’s pay, the higher the sports agent’s income. On average, sports agents can earn between 4% to a 10% commission. However, the NFL and the NBA have limited the commission percentage at 3%. For other sports like hockey, there is no limit imposed.
Secondly, endorsement contracts are another area where these agents can make money. Endorsement contracts are made when a product or a brand endorses a player or vice versa. Here too, the income of the agents depends on the agreed terms of the contract. The type of sport the athlete plays also has a major role here. This means the popular the sport, the higher the income. Income for the sports agents for endorsement contracts is usually larger than that of commissions. The average percentage of sports agent get is an estimate between 10 to 20% of the athlete’s pay.
Lastly, the geographical location can also play a major role in determining the pay for sports agents. There are certain cities where athletes earn more because it is where the leagues are. And due to this, agents also have an opportunity to earn more in those cities. Some of these could be New York or California. Even Florida houses some big sports agents.
How Much Do Sports Agents Make
According to official sources, sports agents pay varies according to the sports their athlete plays. The two major sports are football, baseball, and basketball. For the NFL, the annual income is between $375,000 and $20,000,000.
For the MLB, it is between $400,000 and $32,000,000. Additionally, for the NBA it is between $473,000 and $28,000,000. All these figures are reported on an annual basis and cover all the sources of income for sports agents. If you play it smart, you might become a successful sports agent and earn just as much. It’s a potential career choice.
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