How much do Olympic athletes make? 🥇

Hey! This just in: Massachusetts is this 🤏 close to becoming the next state to require pay transparency in job postings. The proposed bill is waiting to be signed into law by Gov. Maura Healey (and sources predict she’ll sign it promptly). 

We’ll keep you posted. 🤞

How Much Do Olympic Athletes Make?

28.6 million. That’s how many viewers tuned in on Friday to watch the Paris Olympics Opening Ceremony (Céline Dion and Lady Gaga’s performances now live in our heads rent-free). Clearly, we’re all excited.

But the question on our mind as the games kick off: How much do Olympians make? 

It turns out being an Olympic athlete is both physically and financially challenging.

• 26.5% of high-performing American athletes earn less than $15,000 a year…and nearly 50% earn nothing for their participation in the Olympics or Paralympics.

• Worth noting: Competing in the Olympics or Paralympics isn’t free. Travel, lodging, equipment, fees, and other expenses average out to $12,000 a year. 🫠

So how do Olympians manage? While the International Olympic Committee (IOC) doesn’t pay athletes, they can earn money in three different ways: 

1. Stipends 

2. Medals 

3. Endorsements and sponsorships 

Let’s zoom in on each one: 

Stipends 

44% of reported athlete income comes from stipends from the United States Olympic or Paralympic Committee (USOPC) or National Governing Bodies (NGB), per The Houston Chronicle.

• USA Fencing, for example, offers athletes a base stipend of $300 a month, which increases by a few thousand dollars if the athlete hits the Top 24 International Ranking. 

• But some divisions pay more. Consider USA Weightlifting, which pays its top-tier athletes up to $3,500 a month, reimburses performance expenses up to $10,000, and offers unlimited competition funding. 

Medals 

The other way athletes earn money? By winning a medal. 🥇 But the prize money varies wildly by country. Here in the US, Olympians earn $37,500 for gold, $22,500 for silver, and $15,000 for bronze.

Meanwhile, Hong Kong offers $768,000 for a gold medal—the highest sum out of any other country. But if you’re an athlete representing Great Britain, New Zealand, Norway, or Sweden, you get zero compensation for bringing home an Olympic medal.

Endorsements and sponsorships 

These types of deals can be extremely profitable for athletes: 

• US Gymnast Simone Biles made $8.5 million in 2023 by collaborating with brands such as Athleta, Powerade, and Wheaties. 

• US Swimmer Katie Ledecky has a $7 million partnership with swimwear brand TYR. 

But endorsements of this scale are typically reserved for the top 1% of athletes. For many Olympians, especially those in niche sports, competing at the highest level means borrowing money from friends and family or having unconventional jobs to fund their Olympic dreams. 

The question becomes…

What do a pole dancer, senior policy advisor, and Panda Express employee all have in common? They told us about their jobs and salaries at the Broccoli City Festival in Washington, DC! Check out their interviews below. 👇

• Lifestyle magazine SheerLuxe is under fire after introducing Reem, an AI woman of color, as their newest fashion editor. “This is not it. Instead of hiring an actual woman of color…you’ve made a virtual one?” read one comment on Instagram. Amen to that. 🙏

• SAG-AFTRA is calling for a strike against major video game companies after 1.5 years of failed negotiations. The companies “refused to plainly affirm AI protections,” which would allow them to replicate actors’ voices or likenesses without consent or fair compensation. 🚩

• WNBA player Allisha Gray made over half her $185,000 salary in one night at All-Star Weekend in Phoenix. How? She won $115,000 in prize money from Aflac after dominating the skills challenge and 3-point contest (you love to see it). 🏀 

• Apple and its unionized employees in Towson, Maryland, just reached a tentative agreement for a 10% pay increase and better job protections. Fun fact: This is the first time Apple has ever agreed to a union contract. 😲

Thanks for being here! Before we part ways, did you hear about this survey that found that 54% of 18- to 60-year-olds would quit their jobs if they could earn a living as an influencer? 👀

See you next week!