A sports consultant, sometimes called a sports management consultant, is an operations, analysis and public relations specialist who tries to ensure that sports teams succeed. He looks at how the team is managed and tries to make suggestions for improvement based on opportunities available and the skills of everyone involved with the team. Certain consultants earned close to $140,000 per year in May 2010, according to the Bureau of Labor Statistics. The potential for this excellent pay makes the industry attractive.
Sports consultants are considered management analysts because their job is to assess how the team is operating, the goals that are feasible and how the team could be promoted. Although the Bureau of Labor Statistics doesn't indicate specifically what management analysts in the sports sector earn, it does provide figures for the entire management analyst industry, which provides a foundation for estimating earnings potential. The bureau says that the average income for a management analyst was $87,260 per year, or $41.95 per hour, in May 2010.
The Bureau of Labor Statistics indicates that management analysts such as sports management consultants earned $43,900 per year, or $21.11 hourly, in the 10th percentile in May 2010. In the 25th percentile, consultants earned $58,250 annually, or $28.01 per hour. Those at the median made $78,160 per year, which converts to $37.58 per hour. In the 75th percentile, earnings were $104,200 per year, which equates to $50.10 hourly. In the 90th percentile, management analysts earned $138,790 annually, or $66.73. Thus, the rough range for management analysts for May 2010 was $44,000 to $139,000 per year.
Team Value and Size
When a team is larger or is incredibly popular, the team typically has a greater overall value. For example, a single player in the NFL may earn several million dollars per year. It's therefore more important for these teams to perform well and explore all of their options to cover costs. For this reason, consultants who work with major teams may command rates that are much higher than average. Typically, only consultants with a great deal of experience get to consult at this level.
Self-Employed Versus Salaried Consultants
Sports consultants may be either self-employed or salaried. Those who are salaried typically receive a standard benefits package, says the Bureau of Labor Statistics. By contrast, those who are self-employed have no guarantee of benefits. They have to cover their own operational costs, such as the expense of travel.
The Bureau of Labor Statistics asserts that the best job opportunities for all management analysts are available to those who have a graduate degree and PR skills. The industry as a whole is expected to grow by an impressive 24 percent from 2008 to 2018.
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