So you want to become a sports agent?
Sure, why not. It sounds easy, you get to mingle with famous NBA sports celebrities, make a lot of money, and all you have to do is negotiate contracts with professional team owners.
Not so fast. There are a lot of intangibles involved with becoming a sports agent for professional athletes, but most agents handle much more than just contract negotiations.
If you are a former athlete who never had the chance to fulfill your dream of playing professionally, becoming an agent is a good way to stay involved with professional sports.
SPORTS AGENT REQUIREMENTS
Becoming a sports agent requires:
- Superior Networking Skills
- An Excellent Education
- Communication Skills
- Strong Sales Skills
- A Firm Mathematics Background
- A Lot Of Patience
- Managing Interpersonal Relationships
In addition to satisfying the needs of your client, you will also need to satisfy the needs of:
- His Team
- His Sponsors
- Team Owners
Besides handling their client’s financial business, a sports agent also takes care of:
- Managing Investments
- Photo Ads
- Radio Appearances
- Autograph Signings
- Filing The Athlete’s Taxes Every Year
- Public Appearances
SPORTS AGENT EDUCATION REQUIRMENTS
With the correct education, preparation, a lot of perseverance and extreme loyalty, a sports agent can earn a lot of money and become famous.
At least a four-year college degree and league certification is required to represent an athlete for the top professional leagues such as the NFL or NBA.
While some colleges and universities call the program “Sports Management” and others may call it “Sports Administration,” there are many schools in North America that offer degree programs that will train and develop students for a career as a sports agent.
The required curriculum of each school may vary, but they all have courses that include:
- Business Management
- Introduction to Sport Administration
- Principles of Management
- Sports Marketing
- Ethical Principles in Sport
- Economics of Sport
Some schools offer both undergraduate and graduate Sports Management degree programs although the majority of them strictly offer undergraduate degrees.
SPORTS AGENT EARNINGS
As rewarding as it may sound, less than 5% of sports agents earn over $100,000 a year. In addition, it usually takes several years as an agent to build up the clientele and reputation to earn enough money to live on. The Bureau of Labor Statistics reports that the median annual salary for a sports agent is about $50,000.
Some of the fun perks you would have as a sports agent is free admission to many sporting events including:
- The League Draft
- The Playoffs And Championship Games
- All-Star Game
- Any Big Sporting Event Your Clients Are Involved With
Make sure you know the average and minimum salaries of the league you want to work with and the general and maximum percentages that an agent can earn from a client’s salary.
Being a sports agent is highly competitive, and there are no promises that you will succeed. Around 50% of all certified sports agents do not have a single client.
Even though the glitz and glamour of being personally involved with professional athletes sounds like it would be an exciting career, sports agents work long hours, have to be available 24 hours a day, and travel away from their families a majority of the time.