Due to the incredibly short careers of the average NFL player (3.3 years), it’s smart to have an idea of what a player wants to do once their playing career ends. That may come rapidly for some or may be expected for others. Either way, the earlier one can plan, the smoother the transition.
That’s what some NFL players have been doing. During the offseason, they go to the University of Miami for six, two week MBA classes that go for 18 months in which those who complete the course will receive their MBA.
The program doesn’t appear to be a cakewalk for these players as a chunk of players usually dropout due to it being so difficult. Not only the classes are difficult in itself but within the two weeks is nine hours a day of class followed by two hours of study hall in the hotel, repeated for five days. Then after a day break, back for four more days of class, done a total of six times. That’s a pretty big commitment and not only that, must also do the things they have to do to get ready for the upcoming NFL season.
But those who do go through are rewarded. Earlier this month, the first class of this specific MBA program graduated. In total, 31 current and former NFL players received their MBA, including a posthumous degree awarded to former Saints defensive end Will Smith, who was shot and killed this past April.
The program is open to any current and former NFL player and the NFL Players Association helps with financial aid when necessary. For the Miami MBA program, the NFLPA will pay for up to $60,000 of the $105,000 tuition.
It’s nice to see players realizing their careers are so short and taking advantage of the opportunities presented to them. According to the NFLPA, “78% of players go broke within three years of retirement and 15.7% file bankruptcy within 12 years.” And whether it’s the practice squad player who won’t cash in on a multi million dollar deal or the superstar who has millions, getting an MBA is a smart decision regardless of situation.
[ESPN]
