Benefits and perks are not reasons why players take certain basketball jobs. However, they can be deciding factors when presented with two otherwise equal opportunities. Large bonuses and extra airplane tickets are just some of the ways to show players that they’re being looked after and respected.
Also, keeping good players satisfied is a way of making a move to another team less attractive. While most teams try to keep perks within predetermined guidelines, there is always wiggle room for valuable players savvy enough to negotiate their own terms.
That being said, it’s not usually the financial benefits that really make the difference, but other considerations. So what are the ‘extras’ most in demand when looking at basketball jobs?
- International exposure — Does the team play in an international cup competition? If yes, this means tremendous additional international exposure.
- Big domestic market — If the team plays in a big, well-established league where there is a lot of future salary potential, signing with this team means a strong “foot in the door” with respect to a lucrative market.
- Individual skill development — Certain teams and coaches have a reputation for making players better. This is particularly important for young players.
- Reputation of the team — Teams with a flawless track record are usually more attractive than teams who offer more money but have a reputation of not respecting contracts.
- Tax credit — This is important for American players since their entire global income is taxable. The US government has tax treaties with most countries in the world, therefore tax credit can be given to the player. However, if the taxes are lower in the country where he plays basketball, the player will be taxed by the IRS on the difference. Practically speaking, a “net” amount in one country is not always the same as a “net” amount in another country.
As you can see, many factors come into play when choosing the right offer and trying to plan a career. This requires strategic thinking, tactical choices, and expert knowledge of the market as well as real-world experience. This is where a good agent can play an important role.