Sports Agent Job Description Information

A sports agent represents an athlete on a contractual basis, with the goal to market, promote and negotiate contracts in the best interest of the athlete. He will negotiate contracts between a player and a team to include duration and salary requirements. In addition, a sports agent will negotiate commercial endorsement deals for the athletes he represents. The job encompasses a number of responsibilities and requires a passion for sports and business.

 

Duties

• The primary responsibility of a sports agent is to negotiate contracts for the athletes she represents. Her salary is usually based on a percentage of the athlete’s, so it is in her best interest to work hard for her athletes. This requires analyzing the contract to determine if there are any risks with the contract, such as loss of salary if the athlete gets injured. The agent must also meet with team management and coaches, keep abreast of trends within the sport and ensure that all parties are meeting the contract guidelines. A sports agent also creates invoices and collects fees for his services. Constant networking and marketing is also crucial.

Education and Training

• Many sports agents possess a bachelor’s degree in sports management or alternatively, business management with additional coursework in sports, according to the Bureau of Labor Statistics. Sports agents work independently or start off with sports agency firms. It is also imperative that a sports agent have a firm knowledge and understanding of the sport in which his athlete plays, and how an athlete’s abilities can impact a team.

Work Environment

• A career as a sports agent is definitely not for the type of person who prefers sitting in an office and enjoys a routine schedule, according to the Bureau of Labor Statistics. Sports agents may typically need to spend a great deal of time traveling to games and meeting with coaches and team management, which requires considerable flexibility in scheduling and the willingness to work nights and weekends.

Benefits and Drawbacks

• A passion for sports is a primary characteristic of most sports agents, and being able to work in a field that you love is one of the most significant benefits to the job. Being able to travel and see other parts of the country and meeting other athletes is also an advantage. Salary is also a benefit, especially for agents representing some of the highest-paid athletes. Some agents work for a firm, while others work for themselves, which can be both a benefit and a drawback. Self-employment doesn’t offer benefits packages like standard employers, so it’s up to the individual to find health insurance and establish a 401k or retirement plan. Long hours and time away from home can also be considered drawbacks to the profession.

Job Outlook

• According to the Occupational Handbook of the U.S. Department of Labor’s Bureau of Labor Statistics, the employment of agents and business managers of artists, performers and athletes comprised 22,700 jobs in 2008 with the average annual salary totaling $97,820. The report cites that the projected growth from 2008 to 2018 will be much faster than average.

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Sports Agent Salary Information

Sports agents' salaries range widely based on a number of factors. Agents are paid on a commission basis, so earnings are dependent upon the salaries of their clients. Salaries also depend on whether the agent works for a marketing firm or represents his or her own clients.

 

Base Salary

• Agents that work for a marketing firm often receive a base salary in addition to perks and incentives. According to Pay Scale, the average base salary ranges from $39,601 to $81,389 a year.

Bonuses

• Agents representing a firm often receive a bonus for various performance benchmarks. These bonuses can be based on meeting certain salary thresholds for clients, client retention or simply longevity. The average bonus, according to PayScale, ranges from $2,000 to $14,000 annually.

Commissions

• In addition to base salary and bonuses, agents working for firms also receive commissions. These commissions are paid either by a flat stipend per client or a percentage of negotiated earnings for clients. PayScale reports the annual average for commissions to range from $42,000 to $140,000.

Athlete Salaries

• Sports agents, or their firms, are paid based on a percentage of an athlete's salary. Most athletes share an industry standard 4 percent of their salary and performance bonuses. This means an agent or his firm would be paid $40,000 for every $1 million earned. However, the NFL Players Association mandates agents receive a maximum of 3 percent. Agents of NFL players earn anywhere from $6,750 to $600,000. Major League Baseball agents earn between $12,000 to $880,000 a year. NBA agents earn between $15,400 and $1,120,000, while NHL agents earn $14,000 to $400,000. Because each league sets different minimum salaries for their athletes, and the highest salaries differ from league to league, agents or their firms make differing amounts from the various sports.

Athlete Endorsements

• In addition to salaries, agents (or their firms) are compensated a percentage of endorsements of professional athletes. While the percentage can range anywhere from 5 percent to 80 percent of the endorsement deal, typically agents earn 15 percent to 20 percent. An endorsement of $10 million would mean $1.5 million to $2 million paid to the agent.

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How to Become a Sports Agent

A sports agent represents professional and amateur athletes. The typical duties include obtaining media attention, negotiating salaries and providing career counseling. It is a demanding job that requires time flexibility and excellent interpersonal skills. Learn what it takes to become a sports agent.

1. Decide if you'd like to take courses to learn the different aspects of being a sports agent. If so, attend an accredited university that offers a degree in sports management. Although there are no special educational requirements to become a sports agent, an understanding of the many aspects of sports management is beneficial.
2. Understand that to legally represent an athlete, you must successfully complete a registration process that includes examinations and fees. The registration process varies by state. You must also become certified to represent athletes in a specific sport and maintain that certification as long as your representation continues.
3. Realize that in-depth knowledge of the sports you choose to represent is critical to being a successful sports agent. You must also keep up with the rules and regulations of the particular sports.
4. Expect to negotiate contracts with teams and secure endorsements for the athletes you represent. Strong interpersonal and public speaking skills, along with the ability to build and maintain relationships are necessary to perform these duties effectively.
5. Begin your career as a sports agent by working in a reputable agency. Network with other agents to find agencies in your area. Search agent lists by state online at websites like All Sports Agents Directory. Motivated, registered agents can start their own management company; it only takes one client to begin. Fostering a strong relationship with that client could lead to other clients.

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