Jobs in the business industry are slowly but steadily on the rise, even with the recent economic recession. Though the past few years drastically changed how a lot of American citizens spend and their money, as well as altered other industries such as housing and health care, people still placed significant emphasis on entertainment and pastimes that bring joy and relief in the midst of financial and other struggles. As for jobs in business, those dealing directly with the entertainment industry will continue to see growth over the coming years. According to the U.S. Bureau of Labor Statistics (BLS), employment opportunities in business are on the incline, expecting more than 22% growth through 2020, with a special emphasis on business professionals working in conjunction with the entertainment industry.
Agents and business managers of artists, performers, and athletes are integral parts of the careers of the talent they represent. Either individually or as part of management teams, these professionals are responsible for promoting and sustaining the careers of their clients. Agents and business managers represent clients to the media and to the governing bodies of their professions, such as film studios in the cases actors or the NFL in the cases of football players, for example. Agents and managers aid their clients in securing and negotiating employment contracts, promotions, endorsement opportunities, and other professional endeavors. Business managers may also handle a client’s personal finances or other implications of the client’s career on their life.
A bachelor’s degree is a requirement for entering this field, with education and training in a business field. From a 2010 BLS report, agents and business managers of artists, performers, and athletes saw a median yearly salary of more than $63,000.
As an increased value is placed on the entertainment industry and performers, athletes, and artists becoming more popular and ubiquitous in popular culture and the media, the need for agents and business managers of these professionals is higher than ever and still growing. The BLS anticipates a 14% growth in employment opportunities in this field; where 2010 saw 24,100 agents and business managers employed, it is expected that over 27,500 will be employed in 2020. With the creation of more than 3,000 jobs, competition among candidates can be alleviated by extra credentials. Hopeful agents and business managers will benefit from advanced degrees, such as the decidedly valuable MBA. Additionally, the more experience a candidate has will increase their communication and negotiation skills, both of which are must-haves for successful agents and business managers of artists, performers, and athletes.