By Ashley Miller
Nature of the Work: There are thousands of young men and women with visions of a sports agent's glamorous life, of complete access to the world's greatest athletes and the most coveted seats at the best sporting events, not to mention fat commissions as the fruits of contract negotiations. Living the good life, however, takes years of hard work, and the job entails much more than simply dealing with contracts. An agent's expanded duties reflect that sports have mushroomed into a cultural and financial behemoth. In addition to contract duties, agents procure and negotiate endorsement deals for their clients and generally craft their client's image. As a result agents must be media savvy as they deal with reporters and others in the public relations world. At some larger companies, like IMG and Octagon, which offer one-stop shopping, agents may deal with all of an athlete's finances, going so far as managing investments and doing taxes.
The lure of huge payoffs draws many to the profession despite a do-or-die, competitive atmosphere. As an agent works on commission, a single multi-million dollar contract means a six- or seven-figure payday. These deals represent months of work on the agent's part and years of experience before that. Agents spend most of their days on the phone, arranging meetings and setting up deals. Another large portion is spent explaining to clients what the agent is doing on their behalf and strategizing.
Reputations and relationships are vital to the financial success of an agent. Within the industry, contacts are closely guarded. Consequently, each agent has to find his or her own way to the top. That is not to say, however, that agents never speak, or are in general overtly hostile to their colleagues.
Education and Training: There is no single path to becoming a successful agent. Though an undergraduate degree is nearly a requirement, personality concerns are most important. Those looking to become agents should be master communicators who thrive under pressure, and who make and keep contacts. Most agents get their start at small companies where they learn the trade before moving on to a major representation firm or opening their own business. Many agents have law degrees, which help with understanding contracts.
Job Outlook: The expansion of professional leagues provides more opportunities to athletes, and subsequently, for agents as well. Eager agents, however, will continue to outnumber opportunities, and competition will remain intense.
Salary Range: Most agents receive an average of 10 percent of their client's earnings, but it could range anywhere from 5 to 20 percent.