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This seems very unlikely to me given the propensity of finance firm to hire even college athletes never mind people who got to be in the top one or 200 of their

This seems very unlikely to me given the propensity of finance firm to hire even college athletes never mind people who got to be in the top one or 200 of their sport in the world. Anyone who is capable of pushing the work in day after day to get a good at some thing that doesn’t very well like sport is capable of putting enormous amount of work day after day to get good at something that does pay well. Most famously jocks are good at sales. Athletes are no fools. Often of the top of my head Michael Jordan has had a very successful career as an investor after the end of his sporting career. Michelle Debruin, and Irish Olympic gold medallist in swimming, went on to become a Barrister, a trial lawyer in the American parlance. The people who stay in Borsh are staying in sports because they really really love i,t not because they’re not capable of making more money in other ways.

rvba 2y ago
You have the 1950s approach: we hire a hard working person amd after 5 years of internship they will become great. Most companies nowadays offer zero on the job training. You need 5 years of experience for your internship. You are supposed to make impact now. Maybe somoene can score some sales based on looks, but come on. You need to register your sales in SAP now, it's your problem nobody told you how (although with sales they still will, since it is a profit center).
throwaway2037 2y ago
> Athletes are no fools A quick search will show you the shockingly high bankruptcy rates for former pro athletes. Plus, most of them do not finish uni and have few marketable skills after their short career ends.
- spookie 2y ago
  You can have jobs without a degree. Important and fullfilling jobs too. Those bankruptcy statistics might be biased given how poorly paid athletes are, thus tgey might be a consequence of their past and not their present. They aren't fools, they pursue their dreams. Less foolish than some of us.
  - throwaway2037 2y ago
    > given how poorly paid athletes are To be clear, in the US, when people say pro-athlete, they mostly means NBA, NHL, NFL, MLB. (Yes, tennis counts also, but leave that aside for a moment.) I Googled for minimum contracts in those four leagues: NBA: 1.1m USD NFL: 660k USD NHL: 750k USD MLB: 60k USD MLB is shockingly low, but it might be explained by the farm leagues. (I don't know more details.) I doubt anyone who sees regular play in the MLB is making so little.
    - brokenmachine 2y ago
      You're talking about maybe the top 1500 sportspeople in the country. The rest are poorly paid.
    - bruceb 2y ago
      If you play in the major league baseball you min is $740k not $60k. https://apnews.com/major-league-baseball-labor-agreement-details-732f25c0ec1bc69dcc2ebf903bcdb43b https://apnews.com/major-league-baseball-labor-agreement-det...
  - oreally 2y ago
    > Those bankruptcy statistics might be biased given how poorly paid athletes are, thus tgey might be a consequence of their past and not their present. You're generalizing quite a bit here. The other common story for those in the team sports I've heard is that a ton of them have poor financial education and got fleeced by money managers. Combo that with poor job prospects and injuries from the sport itself that you've to pay to treat...
  - m463 2y ago
    I know someone who went through this. dreams followed. Pursued a sport through college, didn't quite make pro. afterwards life languished and didn't quite amount to much. I think people might need to have a plan b, but honestly I don't know very many people who do. People are good at doing what defines them, not hedging.
  - The_Colonel 2y ago
- MenhirMike 2y ago
  ESPN's 30-for-30 episode "Broke" is a great watch. It does seem though that newer generation athletes are a bit better educated in that matter since they're better connected online, but that might just be anecdotal.
sateesh 2y ago
As a contrary example there is Boris Becker

rvba 2y ago

You have the 1950s approach: we hire a hard working person amd after 5 years of internship they will become great. Most companies nowadays offer zero on the job training. You need 5 years of experience for your internship. You are supposed to make impact now. Maybe somoene can score some sales based on looks, but come on. You need to register your sales in SAP now, it's your problem nobody told you how (although with sales they still will, since it is a profit center).

throwaway2037 2y ago

> Athletes are no fools A quick search will show you the shockingly high bankruptcy rates for former pro athletes. Plus, most of them do not finish uni and have few marketable skills after their short career ends.

spookie 2y ago
You can have jobs without a degree. Important and fullfilling jobs too. Those bankruptcy statistics might be biased given how poorly paid athletes are, thus tgey might be a consequence of their past and not their present. They aren't fools, they pursue their dreams. Less foolish than some of us.
- throwaway2037 2y ago
  > given how poorly paid athletes are To be clear, in the US, when people say pro-athlete, they mostly means NBA, NHL, NFL, MLB. (Yes, tennis counts also, but leave that aside for a moment.) I Googled for minimum contracts in those four leagues: NBA: 1.1m USD NFL: 660k USD NHL: 750k USD MLB: 60k USD MLB is shockingly low, but it might be explained by the farm leagues. (I don't know more details.) I doubt anyone who sees regular play in the MLB is making so little.
  - brokenmachine 2y ago
    You're talking about maybe the top 1500 sportspeople in the country. The rest are poorly paid.
  - bruceb 2y ago
    If you play in the major league baseball you min is $740k not $60k. https://apnews.com/major-league-baseball-labor-agreement-details-732f25c0ec1bc69dcc2ebf903bcdb43b https://apnews.com/major-league-baseball-labor-agreement-det...
- oreally 2y ago
  > Those bankruptcy statistics might be biased given how poorly paid athletes are, thus tgey might be a consequence of their past and not their present. You're generalizing quite a bit here. The other common story for those in the team sports I've heard is that a ton of them have poor financial education and got fleeced by money managers. Combo that with poor job prospects and injuries from the sport itself that you've to pay to treat...
- m463 2y ago
  I know someone who went through this. dreams followed. Pursued a sport through college, didn't quite make pro. afterwards life languished and didn't quite amount to much. I think people might need to have a plan b, but honestly I don't know very many people who do. People are good at doing what defines them, not hedging.
- The_Colonel 2y ago
MenhirMike 2y ago
ESPN's 30-for-30 episode "Broke" is a great watch. It does seem though that newer generation athletes are a bit better educated in that matter since they're better connected online, but that might just be anecdotal.

sateesh 2y ago

As a contrary example there is Boris Becker