College athletes spend a substantial amount of time in athletic activities on a seasonal basis. If they spend the same amount of time doing some job, they would end up earning a reasonable amount. College athletes do not find time to have an on-campus job due to their involvement in athletics. Participation in college athletics requires both physical and mental fitness.
College athletes work hard to remain fit and play well. In a way, athletics becomes full-time work for college athletes. Payment would serve as a financial incentive for athletes. Also, compensation to athletes would boost their morale and they may become professional athletes.
Games require physical exertion; athletes can become paralyzed if being hit forcefully during the course of play. Their injuries may end their careers. Some professional athletes might have earned millions before suffering injuries. Fear of injury might keep a talented athlete away from athletics. But a good compensation package or a financial cover may lead them to participate actively in the game where they can demonstrate their skills.
Paying college athletes creates a sense of financial awareness
If college athletes start receiving compensation, they would learn the fundamentals of personal finances. At the professional level, several athletes complained about poor investment. They had to trust financial advisors involved in unethical practices. Compensation at the college level will give students an overview of financial processes in athletics. If they become professional athletes, they will be in a position to manage their finances efficiently. The financial world for professional athletics is not straightforward.
Compensation to college athletes attracts talented student to participate
Several students possess a natural talent in sports such as football and basketball. However, they lack the motivation to express their abilities at the college level. The policy of compensation would attract talented players, and they will feel confident to utilize their skills in sporting activities. Athletics standards in general would also improve due to compensation.
Improvement in Revenue Generation
Top-performing college athletes in basketball and football help their educational institutes to generate revenue. Ticket sales are a source of revenue generation for colleges. Compensation and awards would create a sense of competition among students. The College sports committee will be in a position to organize more matches.
Several college-athletes are getting stipends and scholarships
Although all the college athletes are not on scholarships, many of them are receiving some kind of financial incentive. In particular, participants of national championships and athletic programs are beneficiaries of financial incentives. Importantly, these athletes also get stipends for getting books.
The financial benefit is apart from free tuition, accommodation, and other necessities. Athletes do not have to pay back this amount. However, at the college level, beginners also need financial coverage.
What should be the pay structure of college athletes?
Profitable and popular games are soccer and basketball. Should athletes get compensation only for participating in these popular sports? If not, what should be the pay structure for other sports? For professional players, football is a highly paid game. Should NCAA (National Collegiate Athlete Association) give compensation to athletes or is it the responsibility of colleges? Sports authorities and colleges need to address all these questions.
Paying a handsome amount to football and basketball players would encourage them while the lower base pay for other players may discourage them. Sports other than soccer and basketball also need attention. Colleges can play a positive role to promote all sports.
Undoubtedly, it is not easy to answer the question related to pay rates. Performance-based compensation is another proposition as it can create healthy competition among students.
Not all College Sports generate profit
Men’s and Women’s basketball and college football are the major sources of income for educational institutes. On the other hand, several other programs do not generate profit. Various athletic departments utilize some income from basketball and football programs to sponsor other athletic programs in the college. If it is only the responsibility of colleges to pay their athletes, it is not clear whether they can afford to pay for less popular sports.
How can College Athletes’ compensation work?
Although the decision about college athletes’ payment is complicated, it does not mean there is no solution. According to a proposal, college athletes should get a chance to earn their own profit from their popularity. However, the NCAA does not allow this earning pattern. In fact, NCAA harshly deals with program and athlete if it finds out that an athlete has received a gift or income about their college athletics career. Student-athletes cannot earn money by signing autographs. Similarly, they cannot sell any souvenirs. Additionally, they cannot earn money through their likeness in sports vide-games.
Support for College Athletes
In recent years, college athletes have received significant support. Many people raise their voices in favor of paying college athletes. Meanwhile, college sports will maintain its status as a billion-dollar industry, and athletes will keep fillings its ranks. Some student-athletes play their games with full passion. In the beginning, they do not even think about money. If they are stars in the making, they deserve reasonable compensation.
Suggestions for College Athletes
Whether you are a famous college athlete or a beginner, it’s better to come up with a strong financial plan. For this purpose, a financial advisor could help you. All college athletes do not have the same fate. Talented athletes may suffer injuries, which can adversely affect their careers.
Personal financing will give you an option to prepare yourself for an uncertain future. Some athletes keep adequate funds in their account so that they can cover their expenses for four to six months in emergencies. For any athlete, managing personal finances is important.
College athletes give full time to athletics during the season. Therefore, athletes should receive compensation for their hard work and effort. A financial incentive will encourage more students to participate in sports. College athletes can become professional players in the future; so, it is necessary to groom them from the beginning. Students participating in games other than popular sports should also receive compensation.