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Everyone knows about the millions that star athletes can make. Standing behind all of those NFL, NBA and Major League Baseball millionaires are the sports agents who work for them, and who make quite a bit of money themselves.
Paid by percentage
Most agents make a percentage of the contract that they negotiate for their clients. The percentage of a contract is typically between 3 and 5 percent, according to the Become A Sports Agent website. New agents may start on the low end of this scale, depending on their clients.
Salary ranges up to six figures
Because of the percentage that sports agents take from their clients, their salaries can range into the millions. Percentages can equal more than $500,000 for a star in the NFL or NBA. Often, sports agents represent more than one athlete, so fees add up quickly. For a starting agent without a marquee client, the Payscale website lists an average starting salary of $56,000 annually.
Other fee structures
Agents charge in different ways besides their commission. Like an attorney, an agent can charge an hourly fee for negotiations and other services. Agents can also offer a flat-fee structure for specific duties.
Mike Koehler is a full-time public relations and new media strategist. He has 15 years of experience as a reporter, editor and journalist. He has spoken across the country about the intersection of journalism, social media and the Web. He lives in Oklahoma City with his wife and three kids. Koehler has written for NewsOK.com, Revenews.com, Artofmanliness.com, Dumblittleman.com, Trails.com and Answerbag.com.