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Reasonsathletes are paid so much money
Intoday’s world, a person earns an amount that equates to the valueof their contribution to the community. In an ideal society, thisshould be the case as it would allow for people that work the hardestto earn a fair share of their efforts. Though most of the time thisis usually the case, there is one group that continuously defies thisrule. Athletes are some of the most paid individuals globally.However, there is a consensus that the wages these people earn areabnormally high. A more concerning matter is that people in morecritical sectors of the society make way less than these individuals.The paper evaluates the issue of why professional athletes are paidso much money. It seeks to show that there are several factors thatplay a role in allowing these individuals to earn these excessivesalaries.
Reasonsathletes are paid so much money
Tounderstand the reasons as to why athletes are paid very highsalaries, it is important first to evaluate what these salariestranslate to in figures. Professional athletes refers to all thoseindividuals that take up sports as their full-time job. These peoplespend most of their time practicing for their games and their hardwork is rewarded through humongous salaries. Some of the best payingsports include soccer, basketball, golf, tennis and football amongothers. On average, professional athletes are paid an upward ofbetween $10-$100 million annually and even more depending on thesport or level of performance (Kaplan, and Joshua, 38).
Theabove figure is in great contrast to other professions which play amore important role in ensuring the betterment of the society. Someof the careers that pay salaries which are considered too littleinclude law enforcement, medicine, emergency services, military andteachers among many others. On the height of their careers,individuals in these sectors earn between $65000 and $150000 (Kaplan,and Joshua, 42). The contrast between the two is visible. However,there is no end in sight for this outrageous divide.
Thereare several factors that continue to contribute to the differenceshighlighted above. Firstly, athletes get to a level of being termedas professional because of their willingness to surpass expectation.The remarkable skills portrayed by these individuals as they showcasetheir abilities is one of the reasons they are paid so much (Rowe,233). To be able to perfect the art requires hours of training and awiliness to carry on even when it appears like they have reachedtheir limits. In exchange for their wiliness to push the limitsbeyond what is considered impossible by many, they are rewarded withhefty salaries.
Theother reason for these outrageous salaries is to give the owners anupper edge and thus enabling them to win in competitions. Just likeother businesses, club owners are in it to make money, and if this isachieved by paying humongous salaries, then they do not mind partingaway with these huge checks. This is because these ventures depend onticket sales for their games, selling TV rights and advertisement tomake profits (Deckard). The team that performs best is the one thatattracts the best deals in terms of adverts and television rightsbecause of its ability to fill the stadium with fans during theirgames. In order to ensure that the winning spree is maintained, clubowners pay very high salaries to make sure they attract the besttalent.
Thirdly,these high salaries are as a result of the risk that theseprofessional athletes expose themselves to just to entertain theirsupporters. The fact that they can lose their entire career even whenan athlete is beginning to enjoy the packs of their hard work givesthem moral ground to ask for higher salaries. Additionally, theprofessional career of an athlete spans a very short time, and thesalaries are a way of compensating them for the time that they willbe out of practice (Kaplan, and Joshua, 36). This is different fromthe career life in most professions where workers can practice forover thirty years enabling them to have a constant flow of incomethat ensures their future is secure.
Anotherreason for the high salaries is because of the value thatextracurricular activities have to the society. Sports are viewed asan avenue that unites the nation under a common cause. Studies showthat apart from war and conflicts, the other common reason for asociety to be united is when they are cheering for their team in acompetition (Rowe, 237). This is a highly significant role as itensures people coexist regardless of their differences. Additionally,it makes sure that people are able to have an avenue to release allthe stress that is accumulated from working their day jobs.
Governmentincentives are another reason why these athletes receive such highpayments. For instance, in the US, both federal and state authoritiesgive clubs tax incentives so as to invest in certain areas. This isbecause the investments create jobs and in some instance rejuvenatethe local economy (Kaplan, and Joshua, 45). These benefits are viewedby the government as acceptable costs for the improvement of thelarger society. The tax incentives leave these clubs with a lot ofprofits, and this enables them to overreach while paying for theservices of professional athletes.
Additionally,these entities have very little capital costs as most of theiractivities are conducted in government-owned facilities. A goodcasing point is the US where over 60% of all stadiums have beenfunded by the government (Rowe, 240). With the club only paying forthe operational expenditure, they are left with a lot of money tospend on salaries. This is a contrast to what is experienced in othersectors where the company caters for both their capital andoperational expenditures and thus leaving very little to sharebetween salaries and profits for the shareholders.
Lastly,the reason for these excessive salaries is because of their smallnumber in relation to the size of the industry. The sports sectorequates almost in size and resources to the other major areas.However, the number of participants are minimal leaving a lot ofmonies to be spent in the economy. A good casing point would be theUK. Here, there are around 4000 professional athletes. However, thereare three doctors for every one thousand civilians (Rowe, 244). Thus,even if the two sectors were allocated equal resources, it would beimpossible for the salaries to match.
Asstated earlier, most members of the society are of the opinion thatthe salaries paid to these athletes are too high and it would only befair to have a more equitable compensation forum. However, the abovereasons are evidence that there are more factors that come into playwhen these salaries are determined. It is also important to note thatany actions that may lead to a reduction in salaries for theseathletes would have zero benefits for their fans as there are nolikely chances of ticket values coming downs (Deckard). Reducing theearnings of these individuals would only mean more money for the fewowners, and this does not help in the global effort of ensuringequitable wealth distribution.
Thusnoted, it is only fair that these individual pay their dues to thesociety that values them by making sure they are role models forfuture generations. It is important for them to know that they are amirror for the community and their action carries a lot of influence.Thus, they should engage in a manner that upholds sportsmanship andprofessionalism. This entails avoiding a public display of quarrels,ensuring they are not involved in cases of doping and beingmessengers of peace and harmony. These actions may not necessarilyequate their contribution to the hefty amount that they earn, but itwill ensure that they provide more value to society by being agentsof other social issues and not just entertainers.
Fromthe above discussion, it is evident that athletes earn way much morethan what an ideal society would allocate based on the value theyhave to the community. However, the paper also shows there are a lotof issues that come to play when these salaries are being determined.Calling for a reduction in the earnings of athletes would be unfairand may go against market rules. It is therefore upon theseprofessionals to ensure that they provide value to the society whichcan be considered equitable to the hefty packs they receive. Engagingin some of the activities that have been listed above would be a walkin the right direction as this would allow them to play a more activerole in shaping the lives of future generations. It is therefore uponstakeholders in the sector to come up with strategies that ensueprofessional athletes earn the value that society has placed on them.Engaging in such actions would be a significant step towards a futurewhere all members contribute equitably to the community and arerewarded in kind.
Deckard,Dave. "Do Athletes Make Too Much Money?” Blazer`s Edge. 2016.Available at:www.blazersedge.com/2016/3/18/11248944/nba-salary-cap-contracts-salaries
Kaplan,Steven N., and Joshua Rauh. "It`s the market: The broad-basedrise in the return to top talent." The Journal of EconomicPerspectives 27.3 (2013): 35-55.
Rowe,David. "Money, Myth and the Big Match: The Political Economy ofthe Sports Media." Sociological Perspectives on Sport: The Gamesoutside the Games. New York, NY: Routledge (2015): 232-248.