When an athlete retires from their sporting career, they have many career paths to choose from. Athletes possess a variety of hard and soft skills that are very desirable in other industries too, chief among them the ability to lead and compete, work as part of a team, communicate effectively, and get the job done, even where achieving success requires a herculean level of personal sacrifice.
Retiring from sports can be a daunting and confusing time, particularly for athletes who have spent their entire adult lives focusing on their chosen sport, and never really considered a career outside of it. Nevertheless, former athletes have numerous options in terms of starting a second career in which they feel challenged, rewarded, and fulfilled.
In this article, we explore a selection of potentially lucrative career choices for former athletes.
1. Financial Analyst
Financial analysts evaluate potential investment options such as stocks, securities, and bonds, creating reports based on their analysis, and projecting potential earnings and liabilities. Financial analysts often rely on software to complete their reports, and the role sometimes requires them to make presentations to executives regarding their findings. With a national average salary of $67,756 per year, the role can be financially rewarding, particularly for those who specialize in a particular area, such as a rating analyst, or equity analyst.
2. Sales Representative
A career in sales provides the benefit of working autonomously, as well as conferring the ability to grow your salary fast. Once a sales representative has become successful, they can potentially set their own hours.
One of the biggest aspects of a life in professional sports that athletes miss most when they retire is the adrenaline rush that comes with a win. A career in sales can help to fill this void, challenging representatives to identify target customers, present pitches in front of large audiences, and win and lose deals, potentially earning them sizable bonuses.
Although this career choice may seem daunting for the uninitiated, with experience, many sales representatives find the challenge of winning over new clients exhilarating and exciting. To succeed in sales, the candidate needs to be comfortable talking with people, possessing a fearless attitude, demonstrating discipline, and acting with a competitive spirit, all of which successful athletes have in spades. Attracting a national average salary of $72,289 per year, sales is a highly competitive sector, appealing to the competitive nature of former athletes.
3. Sports Commentator
There are an assortment of different paths to becoming a sports commentator. However, a solid background in the relevant sport combined with a comprehensive network of industry contacts places former athletes at a significant advantage.
To be successful as a sports broadcaster, it is crucial for the candidate to be able to demonstrate a thorough knowledge of the sport, and who better to do so than someone who has lived and breathed that sport for decades? Many former sports stars go on to have highly successful second careers as commentators, enabling them to stay involved with the sport they love.
Sports commentator salaries can vary widely. Bureau of Labor Statistics data suggests that a general radio and TV broadcasting professional earns $49,480, on average, while the pay for professionals in the spectator sports industry is considerably higher, with sports commentators earning $106,550 a year, on average. Famous former players can potentially earn millions working as sports commentators.
4. CEO
A disproportionate number of CEOs played sports when they were younger. Take for example Mark Zuckerberg, who in addition to his extraordinary accomplishments as the CEO of Meta was a high school fencing star.
According to a series of studies carried out by Ernst & Young, it is even more common for female executives to have a background in sports. In a survey of 821 high-level executives, Ernst & Young discovered that a staggering 90% played sports, rising to 96% among those that currently held a C-suite position.
Athletics helps to build character, helping competitors to stay not only physically healthy, but mentally fit too. Among females, playing sports encourages women to break gender norms, setting them in good stead to climb to the top rung of the corporate ladder, taking up executive positions that were traditionally occupied almost exclusively by men.
5. Project Manager
Project managers lead teams, using motivational techniques to manage team members, helping them to meet deadlines and accomplish goals. Project managers often juggle multiple projects simultaneously, setting short- and long-term goals for team members. Earning a national average salary of $73,871 per year, the project manager’s role is to evaluate the performance of team members and adjust workflow where appropriate to ensure that projects stay on schedule.
A history in professional sports sets project managers up for success in multiple ways. Just like sports, there is a heavy emphasis on teamwork, with successful teams working cohesively without the need for micromanagement. Great project managers not only focus on what their teams can do for them, but recognize the need to invest in team members, helping them to grow their skillsets and credentials and progress in their careers.
5 Potentially Lucrative Career Choices for Former Athletes
