Career Information: Agents and Business Managers for Performers, Athletes and Artists
Submitted by: Gypsy Santiago
Job Overview: Agents and business managers are the people who represent and promote artists, athletes and performers to prospective clients (such as appearances, performance, concerts, fights, and other deals that could “promote” the artists’ brands). They handle contract negotiation, and other behind-the-scenes business matters for his/her clients.
Education, Training and Knowledge Requirements: Agents must possess a Bachelor’s degree in business management and hold relevant experience in the industry. Although some talent may hire managers without these requirements, those with degrees and at least 4 years of experience have an advantage.
Skills & Abilities: Must-have skills include excellent sales, marketing and negotiation skills to get the best deals for his/her clients. They should possess superb written and verbal communication skills to discuss contracts in person, on the phone or in correspondence. Since agents and business managers will be assisting in financial matters, they should be highly skilled in accounting, finance, economics and be able to provide sound financial advice to their clients. In addition, they should have vast knowledge of the industry, such as the type of sport, entertainment or union, so they could predict trends to promote his/her client. He/she must also be knowledgeable about laws, government regulations, agency rules and other legalities that may affect his/her client.
Duties:
Agents and business managers for performers, athletes and artists represent their clients and negotiate with people for contracts and appearances. Their role can include negotiating with officials of unions, TV studios, stage productions, motion picture companies, entertainment houses, sports teams and other organizations for contracts and financial return to be received for these engagements.
These types of managers are responsible for promoting their client’s interests by advising them on income, taxes, investments and other financial matters. He/she must also provide liaison between client and representatives related to contractual rights, make travel arrangements and set-up media interviews.
Earnings & Job Outlook: According to CBsalary, the average salary for agents and business managers is around $95,961 as of 2010. They are paid a percentage of the negotiated contracts, so the higher amount he negotiates for his client, the bigger his/her paycheck would be. However, factors like clients, industry and the number of clients an agent represent would affect his/her annual salary. The U.S. Bureau of Labor Statistics reported that the job growth is expected to be greater than average.
Gypsy Santiago is a professional resume writer and career search strategy/career branding coach with years of experience in assisting job seekers prepare for the job market. She helps create career-targeted resumes, provides useful tips about career transition, offers future career ideas and guide jobseekers about effective job search techniques.
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