Careers In Sport Management

To many undergrads, the idea of building a career in sports management sounds ideal. And certainly, the excitement of working in professional sports is undeniable. At the same time, there's heavy competition for the high-profile jobs, and for most grads just out of school, working in sports management means starting at the bottom.

The sports industry in India and U.S. is amore $600-billion-plus powerhouse, with superstar athletes, lucrative endorsement deals, and all the free press an ego can handle. But if you're not the rare athlete who can hit a 93-mph fastball or sink a 15-foot jumper, how are you supposed to cash in on such a lucrative business?

There are jobs in the sports business that don't require sweating—marketing, philanthropy, graphic design, and sales are just a few. But there's increasing competition for these positions, with lawyers, communications majors, and business graduates all vying for the chance to share in some of the sports glamour. Which explains the popularity of the numerous undergraduate sport management at schools across the country.

Like any other field of study, there are variations in each school's program. Here's how to prepare yourself and what to look for when choosing an undergraduate sport management program.

THE RIGHT FRAME OF MIND

Sport management career is much more than a continual chat about the previous night's game. "This is not SportsCenter; this is much more. "It's very much about a series of conversations about management first and how it applies to the business of sports and how it fits into society."

Another misconception is the idea that a bachelor's or even a master's degree in sport management will quickly land you the position of general manager with the Kolkata night riders. "One does not become a GM of a major league team simply by going to school and learning stuff in a classroom," said Paul Swangard, managing director of the University of Oregon's Warsaw Sports Marketing Center.

"The nature of Sport industry requires not only book smarts, but street smarts."

In other words, don't bank on running your own franchise right out of college or even in your lifetime. Stick to your fantasy league instead.

INTERNSHIPS AND NETWORKING

Because of the high competition for many sport management jobs, the ability of a program to provide networking and internship experience is crucial. "Five years ago, many thought if they got a degree in sport management that was their ticket to work in professional sports, in the four major sports leagues (football, Cricket, formula 1, basketball, hockey)," said Michael Mondello, associate professor of sport management at Florida State University. "But now they realize that those jobs are few and far between, and the turnover is small."

Luxury Management Remains in Style

Rupal Patel took a break from her career as a patent lawyer in Chicago to enroll in an MBA program with a luxury specialization this fall, trading in the Windy City for the sparkling shores of the French Riviera. A student at the International University of Monaco’s business school in Monte Carlo, she is spending the year taking classes with titles such as “Luxury Consumer Behavior” and “Managing Luxury Brands,” and is planning on a career in anti-counterfeiting.

Despite the hit the economy is taking on the luxury industry, Patel is optimistic her degree will give her an edge in the job market when she graduates, she says.

“I think being focused and having a specialization, especially in luxury, makes a person more marketable in this economic climate,” Patel says. “The ultra-wealthy will always buy luxury goods, regardless of the fluctuations in the economy, so that kind of gives us some hope.”

Patel is one of a growing number of students who, despite the uncertain times, are setting their sights on a career in the luxury sector. In the past decade or so, more and more schools, many based in Europe, have started to offer MBA degrees in luxury-brand management. The programs, which give students the chance to specialize in sectors such as fragrance and cosmetics and wine and spirits, have become increasingly popular as top luxury brands have seen double-digit increases in profits in recent years.

But with sales of big-ticket items such as Champagne, designer handbags, and watches expected to slide this year, the outlook is not quite as rosy. Analysts at Bain & Co. said in a recent report that global luxury sales could slide by as much as 7% in 2009, while analysts at UBS are predicting a 5% revenue decline. Despite these gloomy forecasts, applications to luxury MBA programs are on the upswing, with students betting the luxury industry will bounce back, according to a number of schools that specialize in the area.

RISING ENROLLMENT

Applications have also doubled this fall at the International University of Monaco’s Monaco Business School, which started a master’s in luxury goods and services and an MBA with a specialization in luxury management several years ago. There are 38 students in the master’s program and about 12 MBA students concentrating in luxury. Sandrine Ricard, the associate dean, says the school started the programs in part because a growing number of companies were demanding managers with more specialized skills and understanding of the luxury market.
In addition, more mainstream brands are starting to develop luxury product lines, further fueling the demand for expertise in the sector, Ricard says.

“You can have the best product ever, with top quality and a very high price, but that still doesn’t make it a luxury product. There’s something a little magic about a luxury brand,” she says. “You have to be initiated and understand how it works. It’s a lot more specialized and complex than it seems.”

By  Alison Damast