NEED TO KNOW

• Olympic athletes are not paid to compete in the games

• However, some athletes are paid if they medal

• A new $100 million donation will change the way Team USA Olympians are paid

It’s not just medals that Olympic athletes can walk away with — for some, there’s a tidy pile of cash involved.

While qualifying for the Olympics is an accomplishment of a lifetime, topping the podium and earning a medal is undoubtedly the ultimate goal for the thousands of athletes competing.

During the 1904 Olympic Games in St. Louis, the tradition of handing out medals — gold for first place, silver for second and bronze for third — was first introduced. The prize distribution continued through the years, though the medals’ designs differ depending on the Olympic host city.

The medals don’t just attract the eyes of the competitors, however, as their nearly unattainable allure attracts the public watching the Games from all over the world. While many are curious about their worth, questions are also asked about athlete payout in addition to receiving medals.

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.

However, the compensation model will be changing a bit for the 2026 Winter Olympics after financier Ross Stevens donated $100 million to the U.S. Olympic & Paralympic Committee (USOPC), promising $200,000 to each U.S. athlete who competes. The first half of the money will pay out 20 years after the first Olympic games they competed in, or when they’re 45, with the second half being a “guaranteed benefit for their families after they pass away.”

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?

In short, Olympic athletes are not paid to compete. The International Olympic Committee explained in a statement to NBC Insider why a “for-profit business model” was never a goal for the Games.

If that was the case, the IOC hypothesized: “The event would be limited to those sports that generate the most significant revenues, and it would not involve athletes representing teams from 206 NOCs… It would not be Olympic Games as we know them.”

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

This isn’t true for all athletes competing in the Olympics, however, as they’re primarily paid only if they medal. “Team USA athletes who medal will be paid by the country’s Olympic committee,” according to Forbes, “but a majority of American athletes aren’t paid to compete.”

According to USA Today, the U.S. payment process is deemed “Operation Gold” by the USOPC. Athletes earn $37,500 for gold, $22,500 for silver and $15,000 for bronze, which is the same as their earnings in the 2022 and 2024 Olympics.

In comparison to other countries, the payout for American athletes is on the lower end of the spectrum.

Singapore pays its athletes much more, offering their athletes $788,907 for what would be their first gold medal in the Olympic Games, per USA Today. Meanwhile, Hong Kong is offering $767,747 for gold, and Italy is celebrating those who place in their home country with $209,804 for gold medalists.

What do first-place athletes win at the Olympics?

Athletes are awarded a gold medal for winning first place at the Olympics, a tradition that began at the St. Louis Games in 1904. The medals are customized year to year — and according to the official Olympics website, the design “is the responsibility of the host city’s organizing committee.”

The 2024 Paris Olympics made history with its medals, which were designed by expert French jeweler Chaumet. For the first time ever in the history of the Games, the medals were adorned with the original iron used in the construction of the Eiffel Tower.

How much is an Olympic gold medal worth?

The medals handed out at the 2026 Winter Olympics are worth more than ever, according to CTV News, due to the rising costs of the material itself.

Gold medals have doubled in value since the Paris Olympics, with a cost of about $2,300 — even though the medals are not pure gold. Only six grams of the medal’s 506 grams are made of gold, the rest are silver.

How much are Olympic silver and bronze medals worth?

Similar to the gold medals, silver and bronze medals aren’t 100% pure. The silver medal weighs around 500 grams, while the bronze medal weighs 420 grams.

Silver medals have almost tripled in value, coming in at $1,400. However, bronze medals, which are made of copper, are only worth about $5.60 each.