FORBES magazine has released its latest report on Major League Baseball team values. The New York Yankees are listed as the most valuable team at $1.6 billion. Winning the World Series and playing in a new stadium probably played a role in the Yankees 7% increase in net worth from the previous year. 

The MLB team with the lowest value is the Pittsburgh Pirates. According to FORBES, the Pirates earned $15.6 million in ’09. However, they received $40 million in revenue sharing from their counterparts. According to FORBES, the Pirates are worth $289 million. Ironically, they are hosting an upcoming Career Fair on April 16, 2010. Maybe some of its new employees can bring some spark to the organization.

The TSR staff has been questioning the value of Sports Management programs, especially those at the Graduate level. The required course curriculum for these programs mirror that of other disciplines including Marketing, Management, Finance, Mass Communications, and Economics. The issue is whether this degree is useful outside of the sports and/or necessary to secure employment within the Sports Industry.

A  Juris Doctor (Law Degree) is valuable within and outside of sports. The same holds true for a degree in Marketing, Finance, etc… These disciplines have diverse curriculums where they are not “focused and concentrated” on one specific industry, which is the opposite of for example a MS in Sports Management.

Analyzing the jobs located on ESPN.com and TeamWorkOnline.com result in a small percentage of employers requiring candidates to possess either an undergraduate or graduate degree in Sports Business/Management. This leads to our conclusion that Sports Job-seekers without a degree in this field is not at a disadvantage to their counterparts.

Sports is part of the Entertainment industry. This means that there will be an unlimited need for selling and marketing in order to be successful (outside of winning games). Selling or the “Art of Selling” is not something that can be taught in the classroom. A good salesman learns from experience and by studying/focusing on the traits of potential customers.

Another point is that many schools offering this degree promote the fact their students and graduates have retained internship placements with relevant sports industry employers. However, this can also be done at the undergraduate level where many universities have student societies and clubs with a focus in Sports Management and Marketing. The student-operated organizations provide Career and Networking Fairs for its members on campus and encourage its members to attend off-campus Sports Industry functions as well (The purpose is to Network with industry executives with the hope of landing either a job or internship). If this can be done at the undergraduate level, what would be the purpose of pursuing such a unique degree at the graduate level?

If you one possess a Sports Business/Management graduate level diploma, we do not write this to question your decision. We only question whether this program adds VALUE to the marketability of your career prospects either within or outside of the Sports Industry.  The purpose of enrolling in school and selecting a particular major is to get employment in a certain field upon graduation. Where is the benefit in a situation when the goal and the experience required to reach this goal are not parallel?

NOTE: The TSR staff does not attempt to discredit the overall relevance of a Sports Business/Management degree. We only intend to show that this discipline “may” not be a necessary tool when seeking employment opportunities in the Sports Industry.

“Sports, it’s more than just excitement and fun. There is a business component involved.”

TSR Staff

This is written to assist those at the final step of the hiring process, the interview. During the interview, expect the interviewer to ask questions where the answers are found in your Resume/CV. At the conclusion of the interview comes the popular closing query, “Do you have any questions for us?”

To stand out amongst the other interviewees, your competition, take the interview to a place the interviewer would not expect you to go. Appear to be more than just a thrill-seeker looking to work in the glamorized Sports Industry. Interviewers are aware of the great demand for the employment opportunities their companies promote to the general public. This means that you have to be exceptional and be unique.

Know more about the position than the words posted in the job description. Understand the “health” or “sickness” of the industry the company is grouped in. Be familiar with the competitors, their products, and how they operate. Do you have ideas for a Mobile solution the company can undertake? Use your creative mind to suggest products and services the company should offer in the near future. If you come prepared to discuss that above then you will show your potential employer an awareness of INDUSTRY KNOWLEDGE.

Industry Knowledge is critical. Most employees are now expected to add more to their positions and the company than that contained in the job description. The depth of knowledge of its employees is extremely important to the growth and survival of a company. It allows the company to time trends in the market and successfully adapt. 

Extensive knowledge of the industry will also allow you to control the interview. Your grasp of Industry Knowledge should make your Resume/CV will rise to the top of the competitive pile. However, remember not to come across as arrogant but insightful.

The best source of the business side of the Sports Industry (Industry Knowledge) is the Street & Smith’s Sports Business Journal. This magazine is published weekly. It provides in depth analysis of Labor, Sponsorships, Finance, and other issues related to the business side of the Sports Industry.  Use this publication to add to the Value proposition you will provide during the interview.

A Cover Letter should not repeat the same information listed on the Resume/CV.

- TSR Staff

One of the biggest and “most popular” mistakes job seekers make in the Cover Letter is to recite that already expressed on the Resume/CV. This is not a productive technique for a job candidate. To a prospective employer, the Cover Letter should illustrate how one would create added VALUE to the company if given the position.

First, tailor the Cover Letter for a “specific” job position (Never use a “standard format” or template where you only switch names, dates and addresses). A good Cover Letter will make an applicants skills and the job description parallel to one another. This is the VALUE element.

The employer should see an instant contribution from the applicant after reading the Cover Letter. There must be an immediate connection between the following: applicant, specific job position, employer.

TIP: The Cover Letter should not address an applicants desire for change in environment or need for added experience. Both will come across to an employer as being self-centered.