The sports industry is a multi-billion-dollar establishment which continues to develop across the globe. With this growth comes opportunity for professionals interested in the many arenas of sports to consider positions with organizations. For many of us, our involvement in sports began at an early age when we enjoyed the physical activity of gym class as an elementary student, felt the thrill of playing on a team with friends in little league, were challenged in competition as high school athletes, or perhaps went so far as to play sports at the collegiate level.
With so much of the world’s population interested in a variety of sports, there are a number of ways to be involved in sports management. Many professional and collegiate-level sports organizations have positions available at many levels. Teams need accountants, marketing managers, scouts, coaches, facility and equipment managers and countless other professionals operating in their fields in order to remain competitive. While a career in sports management can be exciting as there is often travel involved and the satisfaction of helping a team or organization experience victory, a career in the sorts industry can also be extremely lucrative. Here are some of the major factors which affect salaries in sports management.
Some of the biggest factors affecting what a sports manager can expect in salary include education, location, and experience. As sports management has continued to develop as a major for undergraduate and graduate degrees, some of the nation’s best colleges and universities have designated resources in creating programs and curriculums that are designed to equip students with the tools they will need in this incredible field. While an undergraduate degree in sports management will help lay the foundation for a successful career, it is an MBA with an emphasis in sports management that will go a step further in preparing a professional and giving him a stronger potential for an increased salary. As U.S. News & World Report states, “those holding bachelor’s degrees earn about $2.27 million over their lifetime, while those with master’s, doctoral, and professional degrees earn $2.67 million, $3.25 million, and $3.65 million, respectively.”
One of the best formats for completing this type of degree is to consider an online MBA in sports management. Many excellent business schools now offer an online format to students which includes the same rigorous curriculum taught by the same professors which on campus students have access to.
Simply put, larger markets tend to offer larger compensation packages. A coach for an NCAA Division III collegiate program will very-likely have a smaller earning potential than that of her Division I powerhouse counterpart. The market in Los Angeles and New York will simply bring with it more potential than in the Mid-West. While a coach at the collegiate level may enjoy a median annual wage of nearly $45,000, coaches at the elementary and secondary levels feature an annual median salary of $26,880, according to the United States Department of Labor’s Bureau of labor Statistics.
Experience can be one of the most-sought after qualities in an employee. There simply is no substitute for having a working knowledge in whatever field you work in. One of the most popular ways to gain experience in sports management is to seek an internship with an organization. Internships can often coincide with education as well as a budding professional is building her network. Interning, seeking low-level employment, and volunteering can all be great starting points for experience as many high-level executives have gotten their start working menial jobs within organizations they later serve as executives.
These are just three things to consider while researching sports management as a career choice.