How Much Do Olympians Win When They Medal? All About the Prizes for Winners

Mar. 15, 2025

Gold medalists Katerina Siniakova and Tomas Machac of Team Czechia pose for a photo to show their Gold medals during the Tennis Mixed Doubles medal ceremony on day seven of the 2024 Paris Olympics.Photo:Clive Brunskill/Getty

Clive Brunskill/Getty

While all Olympic athletes are going for the gold, some are going for so much more!

While qualifying for the2024 Summer Olympicsis an accomplishment of a lifetime, topping the podium and earning a medal is undoubtedly the ultimate goal for the nearly 3,000 athletes competing across the 32 sports.

Whether athletes get paid to compete in the Olympics has been a commonly discussed topic over the years, with many Olympians opening up about their experiences trying to make ends meet while training to be the best in the world at their sport.

The U.S. women’s water polo team, in particular, was among the athletes who brought the topic to light this year. Team captainMaggie Steffens previously shared her own struggleand those of her teammates, who she says work multiple jobs so that they can follow their Olympic dreams.

RapperFlavor Flavstepped in to fund the U.S. women’s water polo team after hearing their story — and again to assist track and field discus throw athleteVeronica Fraleyinpaying the remainder of her rent, after she shared toX (formerly Twitter)that she was unable to do so.

Read on to learn more about whether Olympic athletes get paid, how much medals are worth and the other prizes awarded on the podium.

Do Olympic athletes get paid?

Team USA’s Katie Ledecky poses with her gold medal after winning the women’s 1,500m freestyle final at the 2024 Paris Olympics.Mustafa Yalcin/Anadolu via Getty

Mustafa Yalcin/Anadolu via Getty

Still, athletes can profit in other ways. In fact,NBCreports that “Olympians are compensated directly from their country’s respective Olympic competition committee.”

In comparison to other countries, the payout for American athletes is on the lower end of the spectrum.USA Today Sportsconducted a payout survey per country for athletes who win gold, featuring Serbia at the top of the list ($214,900) and Australia at the bottom ($13,340).

Singapore, meanwhile, pays its athletes much more.CNBC reportedin 2021 that the country awarded gold medalists $737,000, however, the country hasn’t won an Olympic medal since 2012. Serbia, Malaysia and Moroccoapproximately pay between $200,000 and $215,000for gold.

What do first-place athletes win at the Olympics?

Team USA’s Simone Biles poses with the Olympic Rings and a goat charm on her necklace during the Artistic Gymnastics Women’s All-Around Final medal ceremony at the 2024 Paris Olympics.Jamie Squire/Getty

Jamie Squire/Getty

How much is an Olympic gold medal worth?

Gold medalist Kristen Faulkner of Team United States bites her medal on the podium during the Women’s Road Race.Tim de Waele/Getty

Tim de Waele/Getty

Surprisingly, Olympic gold medals are not 100% gold. In addition intertwining the unique Eiffel Tower iron element this year,various outlets reportmore than 95.4% of the medal is actually made of silver!

According toForbes Australia, the Olympic gold medal weighs 529 grams. “The podium cost of a 2024 Olympic gold medal is approximately $950 based on the spot price of gold, silver and iron on the morning of July 24 and the amount of those materials that are used for the medal,” per the outlet.

The last time the first prize medal was entirely made from gold was in 1912. If pure gold medals — which are 85 millimeters wide and 9.2 millimeters thick — were distributed today,Forbesreported “it would be valued at approximately $41,161.50.”

How much are Olympic silver and bronze medals worth?

Team USA’s Sha`carri Richardson poses with her silver medal during the 100 meter medal ceremony at the 2024 Paris Olympics.Harry Langer/DeFodi Images via Getty

Harry Langer/DeFodi Images via Getty

Similar to the gold medals, silver and bronze medals aren’t 100% pure. The silver medal weighs 525 grams (507 grams of silver and 18 grams of iron), while the bronze medal weighs 455 grams (415.15 grams of copper, 21.85 grams of zinc and 18 grams of iron).

Based on the July 24 silver spot price for silver and iron, according toForbes Australia, the silver medal’s value is approximately $486. As for bronze medals, its podium value is approximately $13.

source: people.com