The first thing that comes to our minds when we see all those athletes looking great on-screen surely is that they’ve made a fortune with their talent. Or that they don’t need much money because their talent has already made them wealthy.
But is this true for all the athletes out there?
Are Athletes Wealthy People?
Surprisingly, that is not the case with every one of them.
There are plenty of various sports disciplines that are displayed at the Olympics. And for many competitors, to get at the Olympics and compete for their country is the ultimate goal.
Let’s be honest – there are experts from the whole wide world at the Olympics, and every competitor is closely monitored during their game.
That could be the beginning of something new for competitors that come not only from smaller countries but for every single person out there.
They Have To Meet Some Specific Conditions To Receive A Salary
But let’s not take this discussion further from the initial topic. It is a well-known fact that not all athletes are paid the same amount of money. Sometimes, many of them need to handle another job to earn enough for a living.
Recently, there was a survey that confirmed this.
The survey covered 500 athletes, and 60% of them claimed that they weren’t that financially stable like we thought they were.
Athletes In The USA
For example, athletes that compete for the USA don’t get paid for being at the Olympics.
It’s preferable for all competitors that qualify for the Olympics to win a medal. And then they usually get some money, for that matter.
The USA is one of the few countries that don’t pay attention to the financial situation of its athletes.
Dare To Go Home Without A Medal
However, athletes get stipends from USOPC (United States Olympic & Paralympic Committee).
Monica Aksamit, the bronze medallist from the saber fencing women’s team, gets $300 per month.
So, athletes could get a regular income for their achievements, but only if they get back home with an Olympic medal.
Of course, their rate can vary, depending on the scores they will achieve at the Olympics. The maximum income an athlete could get from the USOPC is $4,000 per month.
Moreover, all medals come with a cash reward for the USA athletes.
These cash awards are different for all three types of medals. It’s usually $37,500 for gold, $22,500 for silver, and the bronze medal brings them $15,000.
The thing is, this amount of money comes once per medal. And if by any chance the athlete doesn’t win a medal, they go home empty-handed.
Some Other Ways Of Earning For Their Lives
Luckily for all athletes in the world, these days, it’s possible for them to make money from sponsorships or deals with some brands. This is the good side of all social media.
However, this is not possible for all athletes. It often depends on the discipline they choose as their own.
For some of them, like track and field competitors, the money is not that good. And the profit they make is inadequate to their needs.
Business Insider did research back in 2012, and they found out that nearly half of track and field athletes made $15,000. Some of them made even less.
This is the main reason why athletes have turned to make deals with brands or sponsorships. Moreover, many of them have part-time jobs that help them a lot in funding themselves.
One thing is for sure – although it sounds nearly perfect for those who have the talent, it’s not easy to be in sports these days.