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This qualitative phenomenological study uses social capital theory to investigate the perceptions of fifteen college athletics administrators and mentors concerning the impact of external compensated mentors on career advancement for women. Benefits to compensated mentorship included honesty and critique without fear, greater frequency and intentionality in contact time, enhanced access to elite networks and search firms, and the leveraging of intersectional identities for job opportunities. Disadvantages included a lack of authenticity in the relationship, the intrusion of less-qualified mentors motivated by financial gain, and financial barriers which could limit access for women and other underrepresented individuals. Implications include the need for athletics departments to reassess hiring practices, as well as the lack of diversity and quality in current mentorship networks.