Sports Agents

Sports agents can earn phenomenal amounts of money by representing a single star athlete like LeBron James, Venus Williams, or Tiger Woods. Athletes of this stature earn $50 million a year or more in salary and endorsements. A 5 percent commission on such earnings would net the agent approximately $2.5 million a year. Agent commissions, or percentages, at top management firms run anywhere from 5 to 10 percent of the player's earnings, and up to 25 percent for endorsements the agency negotiates on behalf of the athlete.

Although these are high salaries, anyone interested in pursuing a career in this field should understand that most of the athletes the typical sports agent represents are not of the rare star-like variety. This means that they will earn significantly less than agents who represent premier athletes. According to the U.S. Department of Labor, agents and business managers for performers, artists, and athletes earned a median annual salary of $73,740 in May 2019. The lowest paid 10 percent earned $37,300 or less, while the highest paid 10 percent earned $189,420 or more annually.

According to one insider, the sky's the limit; if an agent is extremely ambitious and the agent's contacts within the sports world are fruitful, he or she can earn well over a million dollars a year. People entering the field of sports management should know the realities of the job—the million-dollar scenario is as likely for agents as it is for athletes. It takes ambition, talent, timing, and lots of luck to make it big in this field. Enjoyment of the work, then, is crucial to job satisfaction.

Working for an agency, an experienced agent will receive health and retirement benefits, bonuses, and paid travel and accommodations. Self-employed agents must provide their own benefits.