NFL Players Get Internships In Attempt To Build Second Careers

Thomas WelchIn an unstable economy, a job or even a whole career can fall apart at any moment. And so many workers try to have a "Plan B" ready just in case the paychecks stop flowing. But if there was to be one exception to that rule, you would think it would be a professional football player, many of whom earn millions a year.

But according to a report by Bloomberg News, some players in the NFL are interning at major corporations -- in between touchdowns and tackles. It's self-preservation. Despite big paychecks and celebratory headlines, NFL players typically have brief careers, and often find that the money doesn't last through all those years of retirement. In fact, 78 percent of NFL players are broke within two to five years of retirement, according to Sports Illustrated.

While on vacation, Thomas Welch, an offensive lineman with the Buffalo Bills (above), recently completed a six-week internship with the Merrill Lynch Wealth Management division of Bank of America, Bloomberg notes. He earns $540,000 a year as a football player, according to Sportrac.com, the sports salary website. But according to Bloomberg, "he is in the final year of a two-year contract" and says he knows that "his long-term future won't be on a football field."

Welch told Bloomberg that the internship "was a great experience." During his six-week stint, Welch was asked to put together a mock $1 million portfolio. And he did rather well on the test; his investments grew 4.98 percent during the first quarter of 2013. "I got a better understanding of what [bankers] do -- not just about wealth management, but all aspects of the financial industry."

More: Highest-Paid Public Employee In Your State Is Probably A Coach


And often these internships do lead to full-time jobs. David Howard, also 25, recently took a full-time position with the Merrill Lynch Wealth Management division after leaving the league. A 2010 draft pick of the Tennessee Titans, Howard also completed an internship during his career. "I've always known there would be life after football and career was more of a priority," he told Bloomberg.

Boot Camp
The NFL encourages moonlighting and provides players with a robust training program to prepare for their next workplace. The training program includes a four-day career-training boot camp at some of the most prestigious business schools in the country -- such as Stanford and the Wharton School at the University of Pennsylvania. The program helps with basics of job search, such as resume writing and interviews. It also includes coursework covering the basics of different industries like hospitality and entertainment.

As Troy Vincent, who played from 1992 to 2006, told Bloomberg:

"Football is not a career; it is an experience. The body has an expiration date. It's out of your control when you are going to be released. They need to start planning their next career right away."


The $20 Million Players
Still, some NFL players are so great that they can surely wait till after they're out of the league before worrying about what comes next. The league's top quarterbacks, such as Aaron Rodgers of the Green Bay Packers, Joe Flacco of the Baltimore Ravens and Drew Brees of the New Orleans Saints famously make $20 million a year. But these players are the exceptions. In fact, most members in the league would have to be living in a fantasy not to plan their second careers, according to Vincent. The minimum wage for players in the 2012-13 season was $390,000 a year, and the average career lasts about 3½ years, Bloomberg reported.

"The player today has to make a conscious effort not to engage" in career planning, he told Bloomberg. "There is no excuse."

Should NFL Players Get Guaranteed Contracts?


Don't Miss: Companies Hiring Now


Related Stories


Looking for a job? Click here to get started.

Add a Comment

*0 / 3000 Character Maximum

11 Comments

Filter by:
Doug

Bravo sir

May 26 2013 at 4:17 AM Report abuse rate up rate down Reply
syv33

Boo hoo. Just $390,000 a year. How do they afford groceries. Most Americans live on 10% of that a year if not less.

May 26 2013 at 1:56 AM Report abuse rate up rate down Reply
rialmo1

Vincent who?

May 25 2013 at 10:24 PM Report abuse rate up rate down Reply
aliloga

Pro-sports organization do hesitate to invest in repairing a players body. There are x-pro sports players looking to get back to the good life they lived while playing, and Primerica can help give them that training. See Primerica.com on your favorite social media network, or find a rep in your neighborhood.

May 25 2013 at 9:28 PM Report abuse rate up rate down Reply
Howie Sheinfeld

Welch is following the trail blazed almost 50 years ago by Tucker Frederickson, the RB drafted #1 overall by the Giants in 1965. In those days, NFL salaries were much lower, so much so that players had to supplement their football income with full-time "day jobs." Frederickson took his job on Wall Street. On the field, he was injured at the end of his rookie season, and after a season off, he returned to play another, unspectacular, five years. Off the field he was much more successful, first as a securities salesman, and later as a developer. Definitely a one-percenter.

May 25 2013 at 9:07 PM Report abuse rate up rate down Reply
devin_landry

You're rambling again Brick.

May 25 2013 at 4:23 PM Report abuse rate up rate down Reply
Pete

I have to go number two.

May 25 2013 at 9:37 AM Report abuse rate up rate down Reply
Pete

Why is the sky blue?

May 25 2013 at 9:37 AM Report abuse rate up rate down Reply
Pete

Italy has good pizza.

May 25 2013 at 9:36 AM Report abuse rate up rate down Reply
Pete

My dog barks a lot.

May 25 2013 at 9:35 AM Report abuse rate up rate down Reply

Search Articles

Top Companies Hiring

Week of Nov 9 - Nov 16
View All

Picks From the Web