In the 1996-1997 season, NBA’s Michael Jordan was paid $33,450,000 for the year, or just over $1.06 per second, an outrageous amount of money for a player to play the game he loves to play. He was paid $178,000 a day whether he played or not. There is no doubt that professional athletes are talented, but when Kevin Garnett, who is not even a college graduate, makes over 16 million dollars a year, that becomes a problem. While that may seem outrageous, deliberations over pro athletes salaries are nothing new. When baseball’s Babe Ruth was reportedly asked about earning a larger salary than the United States President Herbert Hoover during the Great Depression in the 1930’s Ruth defended his salary in response, “Why not?
Wouldn’t it be amazing to make millions of dollars by playing one game or tournament? Well famous athletes feel they do. Many people feel that professional athletes are extremely overpaid. People feel professional athletes are getting to much money in a society where incomes are traditionally based on the value of one's work. Average Americans work standard hours and get paid a dismal amount compared to an athlete.
And this is what footballers get paid hundreds of thousands of pounds a week for! Ridiculous! Steven Gerrard reportedly earns £140,000 a week for kicking a ball around for ninety minutes. On the other hand a first class private earns just £14,000 a week for which they risk getting seriously hurt and probably traumatized for life and to support themselves and their families. Some footballers earn over 200 times what a soldier does!
During that time, the team made money, now they traded him away and the attendance drastically dropped, and the team is unsuccessful. The second reason, and the more important reason, is that there are certain people who are the best in the world at what they do, and those people make a tremendous amount of money. The best software programmers in the world are inhumanly wealthy, the best doctors in the world are unquestionably millionaires, the best lawyers in the world make millions every year, the best actors, musicians, writers, and virtually everything else make outrageous amounts of money, so why should athletes be any different? If you've worked your whole life to succeed in something, while others have wavered over their goals, you probably deserve to reap the benefits of such dedication
Employees surveyed had a high regard for the Recruitment/Selection and Induction/Orientation steps to the HRM Approach, but felt somewhat slighted during the Socialization process, claiming that “managers were so busy doing their own jobs that they could not deal with the individual concerns of new employees.” Despite their threefold process, Telesouth currently suffers a high turnover rate, estimating, at minimum, the cost of turnover at $20,000 per person. Telesouth’s turnover rate should not be so high. Telesouth has no problem attracting a large number of applicants – it is a reputable company within the community. Nearly a quarter of the turnover was in the first six months and 50 per cent in the first year. This means that employees may be disgruntled about the socialization process, and not by the job itself.
Many question if professional athletes deserve the salary that many are of them are receiving. Indeed professional athletes work hard for their money, but so does any police officer, teacher or anyone in the medical field. Each of these three professions show value and should be paid more than any pro athlete, that are basically for entertainment purposes. Professions that risk their own life, save life, or teach life are the most precious and should be receiving the million dollar contracts. In a society where some crucial careers are overlooked and underpaid, athletes are undeservedly overpaid.
These 4 areas of economic interest are how professional sports teams are run and also how they make money with such high payrolls. As any business is run, the inputs are combined with the capital to produce an output that is sold to the customers. In sports, the talent of the players and coaches play in their stadium for a game which is sold to the fans. In 1964, Walter Neale stated ,” There can be no monopoly on the level of the firm in sports because the firms are mutually dependent”. This means that all of the teams in the league equally depend on each other and no one team can dominate.
We want to enjoy being young. G.E Miller of 20 something finance states, “At least 134 countries have laws setting the maximum length of the work week; the U.S. does not”. It seems that’s business in the United States are trying to milk their workers for every last penny. It doesn’t seem too beneficial to work and live in the United States at this point. Not only do Americans work more hours but also they get the least amount of vacation.
PSE 4UI - Portfolio #1 Bonnie Schumacher September 18, 2008 This article highlights the vast differences in how much male athletes and female athletes make as professionals. For example, in a review of the top 10 highest paid male and female athletes, the highest paid female, Maria Sharapova made only $26 million, whereas the 10th-highest paid male playing the same sport, Roger Federer made $35 million. There are many reasons why men get paid more than women in sport: their training costs more; there is more media attention around male sports, and equipment, etc. costs more. I find this topic of interest because it is interesting that after so many years of struggling for equality with males, females have still not found a balance in all aspects of life.
Are athletes getting paid too much? One side says they deserve the money they receive for playing professional sports. The people who think other wise don't understand how the lifestyle of a professional athlete really is or who would get the money we spend if the athlete's didn't get it. They just see those huge salary numbers and think that it is unfair that the general working class doesn’t make that amount of money. Professional athletes are some of the most dedicated and hardest working people in world.