How much do Olympic medalists make?
I ran across this AWESOME post about how much Olympic medalists get paid for their feats.
Here’s a run down:
Americans:
Gold medalist = $25,000
Silver medalist = $15,000
Bronze medalist = $10,000
Russia Incentives:
Gold medalist: 100,000 euros (US$150,000)
Silver medalist: 60,000 euros (US$90,000)
Bronze medalist: 40,000 euros (US$60,000)
Thai Incentives
Gold medalist = $314,000
Silver medalist = $187,788
Bronze medalist = $125,213
Canada Incentives [in Canadian dollars]
Gold medalist = $20,000
Silver medalist = $15,000
Bronze medalist = $10,000
Kenya Incentives
Gold medalist = US$11,000
Silver medalist = US$ 7,500
Bronze medalist = US$ 3,700
Ok, so I’m going to start training in Thailand. Is eating basil chicken an Olympic sport?
What do you think about how much these top-tier athletes are being paid for winning medals? For Americans, it seems like you have to be Michael Phelps to really cash in! Are they getting paid too much? Not enough? What would you do with the money if you were a medalist? Talk to me!
7 Responses to How much do Olympic medalists make?
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I think they make more from Sponsors, it’s really the prestige and ego boost from the media that really sets them apart!
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I guess my question is what are we paying them for? Is it just for representing the USA? Is there a concern that they won’t be able to make any money in the future? Or is this just a “good job” bonus? Hey, I’d like one of those!
I think my main concern is, that like all athletes, they don’t neglect their education. Michael Phelps needs to get an accounting degree, just so he doesn’t get his money stolen from him by a crooked money manager!
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It really doesn’t seem like that much. Once you take taxes out and consider that the Olympics come around once every 4 years it’s not that much money.Even if they were paid this amount each year that still is not so great. Also not every champ will walk away with a deal to get their faces plastered on a Wheaties box so 25,000 for a gold medal hummmm not so great in my book.
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Historically, boxers who become medalists are able to parlay their wins into multi-million dollar careers.
Muhammad Ali (then Cassius Clay), George Foreman, Jose Torres, Sugar Ray Leonard, Roy Jones, and Oscar De La Hoya, are just a few that have made big bucks thanks to Olympic wins.
And sometimes Olympic record breakers — in sports seldom seen on pay-per-view — can earn huge endorsements.
But female power lifters? TaeKwonDo fighters?
Shoot, that is the likely most money they will ever earn in any given year of their professional careers
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Money-All about the sponsorship, clearly. I hope they stay out of trouble.
GLM-Aw. You sound all motherly!
PJD-Tell it!
Still Broke-That’s a shame. Leotards and hot pants=more cash?
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Also on top of the Olympic awards, they have endorsements and compete in about a dozen European meets where the top three prizes are about the same as U.S. Olympic top three payouts.
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I don’t think they should get paid, except maybe for their ticket and hotel stay. Sports is not supposed to be abot money. AND they are going to make money later anyway, with all the endorsements.
Moneymonk