Without a doubt, both professions; being a stock broker or entering into a sports manager career, come with their fair share of stress; basically most high paying, demanding positions do. But which is more stressful?
A stockbroker is responsible for buying and selling securities and stocks for both organizations and individuals, a stressful situation because the prices of each typically fluctuate rapidly and the client’s they’re dealing with often become irate when the markets don’t swing their way.
Studies have also shown that stock brokers who are the most successful (based upon what they earn), are the ones that experience the highest stress levels due in part to their long work days and inadequate amounts of sleep. Constant stress can lead to depression as well. A recent study disclosed that stock brokers are 4 times more likely to experience depression than individuals who are employed in other fields.
New York stock brokers can make an average of $123,000 annually, 29% higher than similar position nationwide. A stock broker’s pay is affected by factors that include the industry, employer size, employee credentials, experience and more; a highly skilled, driven stock broker can make a lot of money on commissions as well.
Sports management programs and careers are broadly based and often include participating in press conferences, providing explanations for the decisions they make to the media, at the same time avoiding revealing their intentions for the future. Sports managers are also subjected to both favorable and critical press releases which they need to be able to not take personally.
They also need to be prepared for a fickle public meaning when they sign a player that ends up being great, they are regarded as heroes.
On the other hand when a revered player experiences a losing streak or leaves the team, the team’s manager is frequently seen as being instrumental to the team’s downfall. In addition, it’s not unusual for managers to be fired and having to face relocation several times during their careers. For all of these reasons and more, being a sports manager can be an extremely stressful job.
There isn’t a recommended background for sports managers besides being passionate about a particular sport and having had experience coaching or playing it. Most managers have spent time in a similar program, and worked as an assistant to a coach or sports manager in college or high school. Most individuals interested in this career choice begin by managing local school teams, working their way up to the college level teams and eventually gaining enough experience and building a reputation good enough to work with professional athletes.
Some sports managers have a degree in physical education along with a business minor which makes it possible for them to manage the business aspects of their position. Individuals who want to manage professional teams should also have a business degree, and all should be familiar with accounting, economics and contract laws.
Sports management professions often pay very well, based largely on which field entered, location and years of experience. An entry level sports manager’s salary can be low to average however there is plenty of room for advancement. Actual salaries may vary greatly based on specialization within the chosen field, and range from between $60,000 to over $100,000.
Becoming either a stock broker or a sports manager can lead to lucrative, rewarding careers; you just need to be aware that they are demanding professions. If you decide to enter either profession, you’ll need to find a way to keep the stress under control.