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On financial compensation for college athletes
On financial compensation for college athletes
On financial compensation for college athletes
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1. Which part of the compensation for “clubbies” is similar to what happens in any organization?
Junior attendants are paid roughly $7 – 8 an hour by the team, and this hourly salary can be seen as a base salary. Clubbies also get tips of as much a $300 from the seasonal players, and it is like a bonus. In addition, the gratuities to the daily “dues” are like benefits.
2. Does the compensation for Ken Higdon seem excessive” is he like a highly paid executive?
First of all, Ken Higdon plays an important role in the team. According to the job description of clubhouse manager, the job requires to:
Interact with members and their guests while serving them food and beverages.
Check the daily schedule of events to ensure that the club is properly staffed and that the
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How is the compensation different in baseball? And how does this effect clubby pay?
Baseball players are paid based on their game performance, the same as the team staffs are. So the clubby pay depends on the game performance, which will be valued by the sponsors.
Basketball players will train and play the game for six months, so the service group will spend lots of effort and money in the clubby pay, which is different in baseball. Most important is that not all basketball players have their own assistant because of the long time and strict training program, so they have to rely on the clubbies who will serve them based on their personal habits. In other words, players will tip clubbies very well, sometimes even more than the base salary.
4. From the information provided above, what part of the total package is base pay? What kind of incentive rewards are the rest of the forms of compensation? Does there appear to be any merit pay in this package?
The $7-8 hourly payment is the base pay, and the bonuses include the tip for errands given from the season players. The bonuses appear to be the merit pay in the package.
Reference:
On February 7, 2014, a group of minor league players led by former minor leaguer Aaron Senne filed a class action complaint against MLB and three MLB clubs alleging violations of minimum wage and hour laws. According to the complaint, most minor leaguer earn between $3,000 and $7,500 working between fifty and seventy hours per week during the five month season. The wage and hours violations alleged in the complaint state that MLB has “conspired to pay no wages at all for significant periods of minor leaguers’ work,” including during instructional periods such as spring training, instructional leagues and winter training. But unlike forty years ago, the escalation in competition for opportunities and the need for necessary winter instruction leaves players little time to earn income outside of baseball activities.
Compensation is made of a base salary (paid by the hour, work or the year; excluding overtime or bonuses), variable pay (bonuses, profit sharing/stock options which work hand and hand with the performance of the company), and benefits (to include health insurance/savings plans – 401(k), or tuition reimbursement). The traditional way of determining base pay for jobs was to compare jobs in the same industry. Now industry and market, no long work by themselves, the current thinking is more person-based that considers knowledge, skills, and competencies of the work. This, however, is best suited for high-performing environments that remain flexible in their deployment of human capital.
Ever watched ESPN and seen a report about a baseball player signing a five year contract worth 150 million dollars? Now, with a little math, one would come to realize that that contract means that baseball player will make a bit less than 30 million dollars in that five year period. That is ridiculous. Why do professional baseball players as well as professional athletes in general make so much money just to play a game that little kids play to stay out of trouble? It is because people pay them to play, athletes unions that, for a large part, are used to force team owners to pay them such a high salary, and businesses pay them to advertise their products.
Why is baseball the highest paid sport? Baseball, the sport with no clock, is filled with spare time and not simply the time wasting periods between innings, pitching changes and even pitches, but also before and after games. The season is 162 games not including the 30 plus spring training games and the postseason. But it’s not unusual for coaches to show up seven hours before night games and players to arrive five hours before the first pitch. And that’s not a lot for being in a big sport.
The one thing every single minor league baseball player has in common is their salary. Everyone is out there doing everything they can to make their dreams come a reality, but it is tougher when they compensated poorly. Minor league baseball players receive only 20 dollars a day for meal money. Why do grown men, professional baseball players get paid so little? Major League Baseball is a business like any other, but players in the minor leagues are technically not exempt employees under the Fair Labor Standards Act. An exempt employee is someone who will be reimbursed minimum wage for their duties. Young and upcoming players should be payed for who they are as a player and person, not the cheapest salary possible. Minor league baseball players
Trusting your own skills and working hard to get to the level you want to be at in baseball is commonly referred to as “the process.” The average salary of a major league baseball player is 3.5 million while minor leaguers make about 20,000 dollars a year. Passion and money is the sole reason why every baseball player wants to make it for the top. Professional baseball is composed of seven levels which can be categorized into three levels consisting of the lower, middle, and upper levels. Each level is different, but everyone has the same goal. Make it to the major leagues. As long as players work hard and stay dedicated they can achieve their dreams. The greatest thing about baseball is that is is like Florida weather because it is so unpredictable.
These are just some of the reasons why athletes are paid so much money. The controversy of athletes being overpaid dates back to 1922, when well-known baseball player George “Babe” Ruth received $50,000 within the first year of his career. Ruth’s extensive wealth was bolstered by dozens of endorsements (Saperecom). As it is shown in figure 1, in the Fortunate 50 Tiger Woods takes the number one spot for highest paid athlete.
dollar amount that is paid for many jobs that can not even be compared. Most of
College athletes do not have reasonable time for a sufficient paying job with them having to practice and study, therefore paying them to play would provide them with an income. Division I baseball players can spend up to 42.1 hours a week on their sport during the season and 31.7 hours on their academics (O’ Shaugnhessy).
Statistics show that 11 million dollars are being made a year and none of this money is seen by the players. That is very eccentric because the players play a important role in the sports business. Players also promote the business and bring more viewers and money to the business as well. The organization should give the players the benefit of the doubt because with out the help of the players the organization would significantly fall. The huge amount of money have left people questioning whether athletes should be paid.
A Total Rewards Program is a blend of monetary and non-monetary rewards offered to employees. The major dimensions of an effective Total Rewards program are compensation, benefits, work experience, culture and environment. Compensation includes an employee’s base pay, merit pay, incentives, promotion pay increases and any inflation adjustments a company may offer. Benefits are your health plans, disability income, life insurance, retirement plans, paid time off, executive benefits and any employee assistance programs. Work experience includes work-life balance incentives such as wellness programs, flex-time, employee and family assistance programs (EFAPs), and etc. Work experience also includes performance management such as your performance appraisals, goal setting and any recognition and awards. Also part of work experience is your career growth including training, professional development, coaching and mentoring. The company, organization and HR strategy are components of the Culture and Environment dimension of an effective Total Rewards program. Financial impact, customer expectations, employee interests and expectations are all also part of what makes up the Culture and Environment.
If you're talking about pay with people that you work with at your same company, those individuals may be compensated differently based on the job they have or their previous experience or their education or maybe some specific certification
The team owners are paying their players more than they deserve. The professional athletes are being paid exactly ...
Remuneration management is defined as the sum received for an employment or service delivered, this includes the money received on a monthly basis as well as benefits given as rewards (investopedia,para.1 ). Individualism need to be taken into account when implementing these remuneration structures or reward schemes, equal pay plays a role in balancing earnings among the diverse workforce (Shen, Chanda, D’Neetto and Monga,2009,p.241). The Woolworth’s Holdings uphold remuneration policies which have the purpose of making sure to attract and hold on to the best talent, that they are congruent with the strategies of the company and are the determinants of performance during the short and long phases. The policy considers the board members and the employees. This policy manages employees of the company by giving...
A compensation package includes salary but also includes other non-salary benefits such as: health-care benefits, 401(k) plans, PTO (paid time off) and other perks. Businesses often utilize experienced Human Resources professionals to review, update and create salary scales and compensation packages for new hires. The total compensation package is often used as means of attracting employees who will complement the organization and should be consistently reviewed, acting as an incentive for retaining qualified staff. “Organizations that are not able to develop competitive pay scales along with strong compensation packages, face the risk of a competitor offering a more attractive package, which can result in employee turnover” (Dias, 2011, pg.