The Salaries of Pro Sports Athletes

Salary

The amount that an athlete is paid to actually play varies greatly and depends in part on the sport. Jockeys, for example, may be paid according to performance, as are tennis players and golfers. Athletes in team sports like football may be paid according to their team's assets. For example, during the 2009-2010 season, the average salary for a player on the New York Giants was just over $2,470,000, while the average salary for a player on the Kansas City Chiefs was over $1 million less. According to the U.S. Bureau of Labor Statistics, in May 2008, the average annual salary for a professional athlete was $79,000.

An athlete's income is determined not only by salary, but also endorsements. Endorsements are when an athlete (or any other celebrity) allows his or her image to be used in advertising a product, or when that athlete advertises that product. Tiger Woods, for example, is paid to wear Nike products on the golf course. In 2008, Woods earned more than $100 million in endorsement deals alone -- more than four times what he earned in salary and winnings. Phil Mickelson, another professional golfer, earned $53 million in endorsements, more than five times his salary.

While some athletes make considerably higher-than-average wages, all athletes may be subjected to unique tax laws. In most states with major league teams, traveling athletes must pay state income taxes for the states in which they compete. This can generate a lucrative sum for states with more professional teams, and for athletes making millions of dollars per year, it can be costly.

While the salary of a pro athlete may seem appealing, it comes with few guarantees, depending particularly on the sport in question. Athletes in contact sports like football, for example, may suffer career-ending injuries without warning -- a broken leg or a severe head injury can permanently remove them from the field. Even athletes that keep playing may be unwillingly traded to other teams, where they may make less money than they are used to. Unless you are a superstar athlete, your income can fluctuate with little warning.