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Olympics: How much money do athletes win for gold, silver and bronze Only one of the delegations six athletes in Tokyo still has a shot at that prize this year: 400-meter runner Mohammad Jahir Rayhan, who will be lucky to advance out of the preliminaries. mandatory military service following their training. Beijing individual gold medalists are entitled to 3,049 BSB, or about $143,000 at the current level. Those salaries are RM5,000 ($1,182 USD) for gold, RM3,000 ($709 USD) for silver, and RM2,000 ($473 USD) for bronze. Aaron: It kind of puts a chip on my shoulder to go even harder, to compete at the best and compete with the best so that I can take myself out of this position. So, not only is there an incentive to stand on the pedestal in order to have your name etched in Olympic history, but the athletes also look forward to the cash prize that comes with it. Yahoo Finance reports that those delicious prizes remain on offer in Tokyo. Like the Philippines, Hong Kong also won its first ever gold medal during the 2020 Olympics, in dramatic fashionand the territory decided to break the bank to celebrate. Narrator: But there are three main ways they can make money for being an athlete. China: $31,400. However, the Olympic Committee tends to pay for most of the expenses, such as food, accommodation and transportation. And in 2020, the USOPC launched the Athlete Marketing Project, which better connects athletes with sponsors. NBA, I mean, we don't even have to cover that one. Estimates put his net worth at around $55 million. Aaron: If I got to get shoes every two to three months, that's $200, $300. The MTR Corporation (Hong Kongs transit rail operator) is also providing the winner with a lifetime of free train rides around the city. Russia Russia, this year's Winter Olympics host country, treats their athletes well. In comparison, the US Olympic and Paralympic Committee shells out around 27,000 for a gold medal, 16k for silver and 10k for bronze. This is on top of the grants and benefits like health . But scoring lucrative deals is rare, and hardlythe norm. 100,000, 70,000, and 45,000, for Gold, Silver, and Bronze, respectively. Those figures are up from $25,000, $15,000 and $10,000 at the 2016 Rio Olympics. Or steeplechase. Good old spon-con helps many athletes make it big. And Russian winners? The countrys Central Asian neighbors also reportedly offer big cash prizes to medalists. Kosovo's Nora Gjakova after defeating Japan's Tsukasa Yoshida in a judo semifinal bout on July 26. How Olympic Athletes Make a Living - Sports Management Degree Hub (In the team events, medalists divide up larger pots of money.) Individual gold medalists can also secure a monthly pension of twice the net minimum wage. I didn't even have ways of making money for rent. The countrys Ministry of Culture, Youth and Sport will pay about $112,000 for each individual gold medal, and the national Olympic committee will tack on roughly $11,000. The path to the 2024 Paris Olympics for Ukrainian athletes is clouded by war, anger and pain. U.S.: $37,500 (It was increased from $25,000 after 2016 and there is now a tax exemption on winnings for athletes without elite earning power. With of all this time designated to the Olympics, how do Olympic athletes make money? How Much Do Olympic Athletes Get Paid? - YouTube What you stand to earn by grabbing medals: $20,000 - Olympic gold medal. How much do Olympic athletes get paid? 11 on this list for giving its Olympic gold medalists a lifetime allowance of 4,600 euros per year ($5,500), with additional support as they approach retirement age. How Much Do Professional Athletes Get Paid A Year?