US Olympians Earn Way Less Prize Money Than Spain, France, Israel, and More — What Each Country Pays

The 2024 Summer Olympics are well underway in Paris, so many are wondering: How much do medalists make from taking home the gold? Taking home the gold should have a huge payout, but it's up to each country to issue prizes to their winners. Those taking home the gold for Team USA might be making less money than you this year, and one country even issues cow prizes. 

It's important to remember that these athletes train year-round. While the prizes issued for medalists may seem large to earn in two weeks, the winners put their bodies through intense, physically strenuous training to compete.

These cash prize payouts need to cover their living expenses and, hopefully, a future healthy retirement.

See how each country stacks up in cash prizes for taking home bronze, silver, or gold medals in the Olympics. All currencies are converted to USD and rounded when appropriate. 

Hong Kong boasts the highest payouts for Olympic medalists. Taking home the gold puts $768,000 in the winner's pocket, with silver banking $384,000 and bronze $192,000. That amount is up 20% from the Tokyo Olympics. Several athletes from the region placed early in swimming and fencing. 

Singapore has the second-highest payout for its Olympic medalists. Gold medalists receive $745,000, silver  $373,000, and bronze $186,000. Historically, only one gold medalist has received the top prize: Joseph Schooling, who beat the U.S. swimmer Michael Phelps. 

Indonesia takes bronze for Olympic cash prizes, coming in third-highest. Gold medal winners receive an influx of $300,000, silver receives $150,000, and bronze drops down to $60,000. 

Indonesians also receive some other quirky prizes along with the gold, as Apriyani Rahayu and Greysia Polii found out when they took home the gold in badminton. In addition to the cash prizes, they received five cows and a meatball restaurant. 

Israel pays $271,000 to its Olympic gold winners, followed by $216,000 for silver and $135,000 for bronze. This is a huge 50% increase from what was reported when the games were held in Tokyo. 

Kazakhstan also offers a surprisingly high payout for Olympic medalists, $250,000 for a gold medal. Silver earns a prize of $150,000, and bronze brings home $75,000. Non-cash prizes include apartments gifted by the state to all medalists, which is also significant in value to the athletes. 

Malaysian athletes bringing home gold medals from the Olympics can expect $216,000 as a cash prize for winning, but the prizes drop severely from there — silver earns $65,000 and bronze a mere $22,000. Imagine placing bronze and winning less than the average full-time McDonald's employee earns in a year. 

Spain's gold medal prize is no joke at $102,000 for Olympic winners, but the prizes drop quickly for second and third place. The prize for a silver medal is $52,000, and bronze is $33,000.

The hosting country of France has bumped up their prize for the gold medal this year, up to $87,000 — 15,000 more euros than was offered when the Olympics were held in Tokyo. Silver medalists will receive $43,000, and bronze $22,000. 

Gold medalists representing South Korea receive a cash prize of $45,000 but are also offered the option of a life-long monthly pension or a lump-sum payout. Silver medalists receive $25,000, and bronze medalists $18,000, but they are also awarded monthly pensions, which significantly increases the value of winning a medal for Korean athletes. 

America ranks embarrassingly low on the Olympic prize money, offering only $38,000 for a gold medal. If you daydream about quitting your day job to become an Olympic athlete, maybe adjust the financial payouts of your dream accordingly. Silver medalists get $23,000, and bronze $15,000. How much does it cost to compete on an international level? About $12,000 annually, further reducing the value of the prize. 

Japan's gold medalists receive a cash prize of $32,000, silver earns $13,000, and bronze $6,000—the lowest cash prize for bronze of any country that offers a prize. Some unusual gifts can accompany the medals, though, as Kasumi Ishikawa received 100 bags of rice for taking home silver in table tennis at the Tokyo-hosted Olympics. 

Poland's gold medal cash prize is $25,000, while silver brings home $19,000. The prize for bronze is $14,000. 

Germany has a low prize for Olympic gold medals, only $22,000, but they pay out for up to eighth-place finishers — rather than just podium-placers. Silver medals get a $16,000 prize, and bronze $11,000.

The Land Down Under is coming in last for Olympic athlete prizes. Gold medalists can expect $13,000, silver medalists receive $10,000, and bronze medals net the third-place winners $7,000. 

Winning the Olympics isn't as financially lucrative as some might expect. The cost of competing on a global athletic level averages about $12,000 per year, and the International Olympic Committee does not award prize money to the winners. 

Prizes are left up to each country to decide and pay to their competing athletes, and they vary from six-figure cash prizes to a handful of cows. Not all countries offer monetary prizes at all to their Olympic athletes. Great Britain and Norway, along with some other countries, have no direct payouts. 

If you've been watching the Olympics this week and wishing you could live the exciting life of professional sporting competitions, remember you may just be earning more from sitting quietly at your day job than the best athletes in the world are getting for taking home Olympic medals.