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09-21-2012, 06:01 PM
Join Date: Sep 2004
Originally Posted by
It's interesting that some could be so ignorant of economics as to argue that professional athletes are overpaid.
Part of the reason hockey players are well-paid is because it takes a tremendous sacrifice to become a hockey player. You need to sacrifice a huge part of your life in the ages 4-18 including high school, college, and other life experiences to become a professional hockey player. In order to succeed, it's likely a 100-hour/week job when including exercise, practices, travelling, etc. Some players do go to college while preparing for hockey, but they are typically majoring in "communication studies", and thus not getting a real education -- they don't have time to do so if they are serious about becoming hockey players.
For each person who succeeds, there are dozens or hundreds that fail, and thus it is a higher risk job. Any job that comes with a very high risk of failure will necessarily also come with a high salary to compensate. Conversely, jobs where everybody succeeds don't merit higher salaries. In this sense the salaries of professional athletes are logically comparable to those of Hollywood stars.
Finally, the average career is five years, and comes with high risk of concussions and other debilitating injuries.
This. Add to this the fact that approximately 60% of NHL players will play only 5 seasons or less in in the NHL in their careers. I have 40 years to make my millions in my chosen field - the average NHLer has 5.
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