This week in class, we had a presentation on whether professional athletes are overpaid. Many believe that they are, but I'm not too sure. Athletes go through physically demanding seasons and busy offseason workout schedules, giving little time with friends or family. In essence, they work hard for their money like everyone else. Also, athletes are at high risk of career ending injuries, which could limit their ability to work. Therefore, these high salaries may have to last an athlete an entire lifetime. To give you an idea of what I am talking about here are the salaries of the highest paid athletes in each of the major sports.
Kevin Garnett - $25,000,000
Alex Rodriguez - $25,000,000
Donovan McNabb - $15,000,000
So, are these athletes overpaid? Absolutely not. Am I crazy saying this? I don't think anybody in our society can really ever be overpaid. We live in a society where you are free to accept a job and someone is free to hire or not hire you. This is especially true in sports where the ONLY thing that matters is how you perform and do your job. Obviously, the owner of each of these clubs believes that each of these athletes is worth the money. Nobody put a gun to their heads and forced them to give the money to the players.
Now, if the players don't get the money who will? The owners. A lot less people whine that they are making too much money. Some people complain that instead of making all this money that they should reduce ticket prices. Well if you ran a business and you could sell a product for $10 or $20 what would you do? I think most of you would probably charge what the market would bear.
What I don't understand is that many of the same people who complain that athletes make too much money are those clamoring to get more money for either themselves or working class America. If average Joe American has the right to make as much money as possible, how come the same can't be said for athletes? I realize that $25,000 is quite different than $25,000,000, but the principle is the same.
Everyone should be paid what they are worth. Sports just happens to be very big business in America and it makes lots of money. How can you begrudge a man his money which he rightfully deserves. I mean a star athlete, more than any other employee, has a direct impact on the revenue of his company. He plays well, fans come to see games, fans buy more merchandise, etc.
You make a good point saying that in this society "you are free to accept a job and someone is free to hire or not hire you." I completely agree. Athletes are often scrutinized for the money they make, but owners should be more accountable for the money they offer to these athletes.
ReplyDeleteAthletes are not overpaid because professional sport is a rare business that attracts such a wide-variety and high volume of customers. Pricing is established based upon demand, and if no customer was willing to pay for tickets or merchandise, then the salaries of athletes would be much lower.
Given athletes' status in our society, whether fair or ridiculous, the amount of money athletes are paid is more often than not justified. I believe that they should acknowledge their impact on the world and accept that they are obligated make an impact with the money the make in the world. Part of what athletes make should imply to them that they are capable of helping other portions of society aside from their family and friends. Others are needy in society, and certainly professional athletes are more than capable of contributing in that regard.
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