What puzzles me even more, is how after holding out for weeks, and sometimes months, the owners give in and pay them what they don't deserve. They may get leeway when it comes to their salaries, but the law should be overpowered by any amount of talent. For every pro athlete there are hundreds or thousands of high school and college athletes who never made it. In my mind, absolutely not. Include economic concepts/terminology (marginal revenue product?) However, some may argue that while teacher’s only provide service to a single classroom, superstar athletes are entertaining fans all around the world, enticing people with a feeling of relaxation and excitement. Discuss. I don't deny that they generate lots of money, but news like this one: http://www.euroweeklynews.com/news/axarquia-malaga-east/item/126022-la-liga-clubs-threaten-strike, or this one http://www.forbes. But one of the reasons pro athletes make so much money is that we love to watch their games. Lionel Messi. And ever since the sports entertainment industry became popular around that time period salaries skyrocketed. And are they making TOO much money? a. People in the military leave their families at home to defend and protect the country knowing they may never return. I can see three reasons that they would earn that much but any of them if thought better is wrong. When contracts in professional sports first began athletes were barely making enough to pay for their meals. The money has to go somewhere The bottom line, then, is that the national attraction to sports has created a multibillion-dollar industry and quite simply, all of that … It's easy enough to show that celebrities get lots of money. Discuss. According to the Huffington Post, within a five-year period an average professional athlete in the NBA makes $24.7 million, $17.9 million in the MLB, and $1.9 million in the NFL. In professional sports, athletes tend to be paid according to their MRP. They were paid in the area of twenty dollars a week. Discuss. Wouldn't it be great to make nearly $111 million a year simply to play a game? People ask why professional athletes get paid too much… In my mind, absolutely not. The whole system that allows professional athletes to just swim around in money is simply ridiculous, and it needs to stop. Discuss. Every year we hear how a professional athlete just signed a contract worth a record amount. Why are professional athletes paid so much? The Wages are determined by the … Professional athletes are making too much money in a society where salaries and wages are traditionally based on the value of one's work. Think about Jamarcus Russel, the former No. Professional athletes getting paid too much to other family members are being. LeBron James. Why do the top footballers get paid Over £50,000 a week, when in all probability they would be willing to play football for £200 a week. They also have to stay in college much longer, and on top of that they have to attend Med-School, which is REALLY expensive, so after they finish Med-School they have so much debt to pay off! While President Obama is hard at work reviving the economy, the unproven rookie in the MLB is earning way over that figure. What kids learn from successful ballplayers like him is that “It’s okay for me to use illegal substances, because in the long run, it will pay off by earning me an enormous contract.”. In other words, fan interest in professional sports causes salaries to be large. Athletes, like everyone else, get paid by what te free market decide. But do these athletes really deserve all that money? I was sitting in a sports bar recently when the bartender and three of the patrons near me began discussing the salary of New York Yankee third-baseman Alex Rodriguez. These infamous players must grow up, and prove to America that they can be positive role models for kids on and off the field. © copyright 2003-2021 Study.com. We lay out the argument that athletes aren't paid enough and the early stages of an athletic career are incredibly harsh. If Alex Rodriguez earns the same amount of money as it would take to feed the nation's poor for a year, he can’t cheat and take steroids. Which contract ensures employment for all 300... What is meant by the term, "compensating wage... As the strike deadline approaches, it is likely... Do unions raise wages? Athletes Sacrifice a Lot. Discuss. Athletes are in small demand. While I do understand that making it into the pros is not an easy thing to do, and that it takes a tremendous number of hours of hard work and dedication every day to earn a job in professional sports, these people do nothing more than entertain the general public. It's truly a pity that none of these true heroes are given the same recognition by society as athletes such as Brett Favre or Michael Jordan are given. The short answer is: society and our market economy value those athletes and stars more than they value nearly every other job. Become a Study.com member to unlock this Furthermore, police officers, firefighters, and doctors save lives while risking their own for a fraction of what sports stars make. In order for these players to gain respect, they need to have a more significant impact on the community. There’s no question that professional athletes are paid too much. One of the customers said it was absurd that Rodriguez makes so much when, for instance, teachers, charged with educating our children make only $50,000 or $60,000 per year. Why are professional athletes paid so much? Yes professional athletes are paid way to much. The athletes should get paid because of how hard they work in season and the off-season. (high school, examples, work) User Name: Remember Me: Password : Please register to participate in our discussions with 2 million other members - it's free and quick! Why are professional athletes paid so much? Mihir Bhagat, a senior analyst for “The Bleacher Report” wondered the same thing and wrote an article about it. Do not pay all of the athletes, but pay the ones who are at a D1 college. Some forums can only be seen by registered members. 1) They generate all the money they win. Regardless of whether or not you think athletes are overpaid, the issue at hand is not how much theyre being paid, but why theyre being paid that way. Here are three reasons why professional athletes warrant such high salaries and three reasons why they don’t: 3 Reasons Why Professional Athletes’ Salaries Are Fair . Professional athletes get paid way more than the average person. Athletes are extremely overpaid, considering that their careers do not, arguably, contribute to society in a meaningful way. Some people risk their lives in this world like firefighters and police officers who go in the line of fire to protect the people and firefighters run into burning buildings to save people they don't even know. Moreover, in my mind, if these athletes want to continue to be rewarded with the fame and fortune that is unfairly bestowed upon them, they must prove to the world that they are going to be positive role models for future athletes, and those who admire them. Why are professional athletes paid so much? In other words, firms will hire workers up until the marginal... Our experts can answer your tough homework and study questions. The rights for the first seasons of the Premier League in 1992-97 sold for less than £200 million. While professional athletes dedicate most of their life to their respected sport, the amount they are paid to simply play games is absurd. in your posting. When we talk about the value of athletes versus the value of teachers, we are talking about particular choices with limited scope. Professional athletes sacrifice important aspects of their lives, especially their health and family. To a large extent, athletes' salaries are high because willingness to pay is high. Keep in mind that that is … Professional athletes are making too much money in a society where salaries and wages are traditionally based on the value of one's work… Earn Transferable Credit & Get your Degree, Get access to this video and our entire Q&A library. You May Need To Look Ahead In Your (textbook) Reading, Too. In 2018, the average annual salary for an MLB player was $4.1 million. To understand why professional athletes are underpaid, we need to understand where sports fits into today’s society and how the industry has grown. In the NBA, it was $7.1 million. Three years into the Gruden era the Raiders still haven't finished above .500. The price where the marginal cost of hiring an additional worker equals the revenue that the worker brings in, is the wage. In Your Posting. Firms will hire workers up until the point when the additional (marginal) cost of hiring those workers exceeds the additional revenue those workers bring to the firm. He is on a six-year $68 million contract, with $31 million guaranteed. In today's society, one should be paid according to the job’s economic importance and their value to society. Tiger Woods, along with many other professional athletes, certainly think so. Should we have the right to hunt. (Rodriguez currently makes roughly $25 million per season.) Mike Trout, a centerfielder for the Los Angeles Angels, gets $35.8 million a year. There is no guaranteed money. The first thing to remember is that it is only a very small % of footballers who get these astronomical wages. Captialism at it’s finest 1 overall pick in the '07 draft. Players are being paid increasingly high wages because the clubs are making more money than ever. Create your account. Discuss. Why do we pay professional athletes so much money? answer! Libertarian philosopher Robert Nozick answered this question 45 years ago; I hope my summary does him justice. Are Professional Athletes Paid Too Much For years, fans of the four major U. When asking people whether they think athletes are paid way too much money, most agree with me. Include economic concepts/terminology (marginal revenue product). Include Economic Concepts/terminology (marginal Revenue Product?) Actually, a lot of people would say they are overpaid, including my husband. In 2018, the average annual salary for an M.L.B. Athletes are underpaid for their high risk of failure or injury. So I believe they get paid a really good amount not to much and not to little. As a result of globalisation and technological advances such as the pay TV market, football has become more popular and so more profitable. These are a few examples of athletes that make close to 40 million dollars a year. The cost of the staffing plan for the first 2... Larry is the manager of a factory. Even if an athlete sits the bench for 99% of the entire season, they still get paid more than the individuals who are working day-in and day-out to make sure America will have an educated population for generations to come. The higher the demand, the more people who want the item, the higher the price will be. Somehow that doesn’t seem fair. People are willing to pay to watch athletes play so with high demand and low supply it is easy to see why they get paid so much money. Please Note That This Question Might Require A Bit Of Outside Research. The athletes should get paid because they put in the same amount of time as the pros do, and the pros get In fact, each basket Kobe Bryant scores earns him equivalent to the average classroom teacher’s yearly salary. In simpler terms, that means that despite currently being recognized as one of the biggest busts of all time, and even if he were to get injured tomorrow and never play again, he will still have $31 million in the bank. Include economic concepts/terminology (marginal revenue product?) There are only so many who can play at such a level. player was $4.1 million. All worker wages are determined by firms finding a profit maximizing level of hiring. In comparison to a professional athlete who is there only for entertainment to America gets paid roughly 7 to 9 figures each year. in your posting. Athletes get paid exactly what they need to. So let me drop the economics lingo and speak in intuitive terms. To put this in perspective, the President of the United States has a $400,000 annual salary. Obviously, what these individuals must not be aware of is the most important man in our nation, the president, who makes critical decisions that affect the entire world every day, only makes $400,000 a year. Of course, athletes are way overpaid, the highest paying doctor ( Plastic surgeons ) earn about $700,000 WHICH TAKES 10 YEARS OF EXPERIENCE. This opinion is shared by 59% of the population, according to a Zeitgeist survey. The marginal revenue is determined by the productivity of the workers and the price of the good or service they are being sold. Teaching is one of the most economically important occupations because our future economy relies on the education of its youth, yet teachers are paid astronomically less than the average professional athlete is. After reading the article, Bhagat’s thoughts are clear, he thinks professional athletes make too much money that they don’t deserve. 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For example, the average salary for a professional football player in the NFL is $1.9 million per year. Answer to: Why are professional athletes paid so much? Cristiano Ronaldo. The bartender defended Rodriguezs salary, asking, If someone offered you $25 million, would you turn t… Alex Rodriguez, who played for the New York Yankees, made the amount of money it would take to feed a country’s poor for an entire year, and yet he used steroids to make him better. Even though that was in the early 1900’s it still wasn’t much. In any other job, if you don't perform to your expectations, you're fired. This very magazine creates a list each year of how many tens of millions people get for being able to sing, dance or talk to a TV camera. Question: Discussion 4 Why Are Professional Athletes Paid So Much? Considered to be one of the most profitable activities and nearly everyone dreams to become a famous athlete or a movie star and receive much money for it.
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