How much Olympic athletes get paid for winning a medal for their country
Winning an Olympics gold medal can be life-changing. Depending on the athlete’s nationality, it can also be pretty lucrative.
Athletes who win individual gold at the 2024 Paris Olympics while representing Malaysia, Morocco, or Serbia will receive upward of $200,000 from their country’s government or national Olympic committee, according to a survey of medal payouts conducted by USA TODAY Sports. At least six other countries − including Italy, which won 10 golds in Tokyo − are offering payouts north of $100,000. And some offer added perks, like apartments and vacation vouchers, or extra money if an athlete breaks an Olympic record.
The amount of money Olympic athletes earn varies significantly depending on the country and the policies of their national Olympic committees. Here is a general overview:
Participation
In most cases, athletes do not receive direct monetary compensation simply for participating in the Olympics. Training costs, travel, accommodation, and other related expenses are usually covered by national Olympic committees or sponsors.
Medal Prizes
Athletes may receive cash prizes for winning medals, and these prizes are awarded by their respective countries. Here are some examples of what certain countries have offered in recent Olympics:
- United States: At the Tokyo 2020 Olympics, U.S. athletes received approximately $37,500 USD for a gold medal, $22,500 USD for a silver medal, and $15,000 USD for a bronze medal.
- Singapore: Singapore is known for offering some of the highest prizes. For example, at Tokyo 2020, an athlete who won a gold medal could receive up to $737,000 USD.
- Italy: Italian athletes received around $213,000 USD for a gold medal, $107,000 USD for a silver medal, and $71,000 USD for a bronze medal.
- Russia: Russian athletes received approximately $61,000 USD for a gold medal, $38,000 USD for a silver medal, and $26,000 USD for a bronze medal.
- Mexico: At Tokyo 2020, the prizes were around $10,000 USD for a gold medal, $7,500 USD for a silver medal, and $5,000 USD for a bronze medal.
Other Benefits
- Sponsorships and Bonuses: Many athletes also earn significant income through sponsorships, personal endorsement deals, and bonuses from their national sports federations or private companies. These agreements can vary widely and often depend on the athlete’s profile and popularity.
- Indirect Benefits: Athletes may also benefit from indirect advantages such as college scholarships, career opportunities after retirement, and government subsidies and grants.
It is important to note that exact figures and policies may change over time and can vary for each edition of the Olympics and for each country.
FOR ADVERT AND NEWS PUBLICATION, EMAIL US @ tarakirivoicenewspaper@gmail.com or call or WhatsApp us on 08160439769
