Economic Return on Schooling for Soccer Players

Abstract

This article tests the relationship between earnings and schooling for male footballers of the Portuguese Football League, using data from a questionnaire carried out in the Lisbon area between January and April 2000. The author verifies that the sports market barely compensates the cost of education in accordance with the theory on the economic return on schooling; rather, it rewards talent in accordance with the theory on stardom. This finding is consistent with all currently available international evidence on the issue. Moreover, the article finds a significant positive association between earnings and professional status, union membership, the division in which the club competes, and the player’s performance.