Why US Olympians Earn Less
You might be surprised to find out that Olympic® athletes are not always paid for their hard work. U.S. Olympians are paid for winning medals but receive smaller incentives than many of their competitors. Some countries don't pay their medalists at all. Why is there such a discrepancy in Olympian pay? Well, it's in part because of the history of the Games, but also due to the cultural values of participating nations.
The History of the Games
The Olympic Games® originated as an amateur competition meant to celebrate athletic prowess and the spirit of sports without direct financial incentives from the International Olympic Committee (IOC). The IOC has maintained this spirit over the years, refraining from paying athletes directly for their performances. Instead, the IOC redistributes 90% of its income to National Olympic Committees (NOCs) and International Federations (IFs) to support athletes and sports organizations globally. From there, nations are free to distribute the funds as they see fit. The aim is to foster the development of sport worldwide rather than to directly reward individual athletes.
How Are US Athletes Paid?
The U.S. Olympic & Paralympic Committee (USOPC) provides monetary rewards to its athletes through the "Operation Gold" program, with gold medalists receiving $37,500, silver medalists $22,500, and bronze medalists $15,000. At the 2022 Winter Olympics in Beijing, U.S. athletes received a total of $5.6 million in cash incentives through Operation Gold.
Which Countries Pay the Most?
In contrast, some countries offer much larger cash incentives to their Olympic medalists. For instance, Hong Kong and Singapore are among the highest-paying nations, with gold medalists receiving $768,000 and $745,300, respectively. These significant payouts reflect Hong Kong and Singapore's commitment to rewarding excellence and fostering national pride through Olympic success. Other countries such as Israel, Malaysia, and Kazakhstan also offer six-figure rewards, and in some cases, additional benefits like apartments, cars, and lifelong pensions.
Endorsements vs. Cash Incentives
Countries like Hong Kong and Singapore have the financial resources to offer large incentives, viewing them as investments in national pride and international prestige. These nations aim to inspire future generations and elevate their global standing through Olympic success. Conversely, the U.S. relies more on private endorsements and sponsorships to supplement athletes' incomes, favoring a market-driven approach where high-profile athletes like Simone Biles or Michael Phelps can earn millions through endorsements.
The Controversy of Sponsorship
This approach isn't without controversy as companies tend to offer superstar athletes like Biles or Sha'Carri Richardson big money deals, but only provide smaller deals to other athletes. Mark Conrad, a law professor from Fordham University, explained to CNN, "What sometimes companies will do, and it really depends on the level one is in, their endorsement deal will be free equipment and a few promotional events, but not a lot of money."
Maintaining The Spirit
Additionally, the debate around paying athletes highlights concerns about maintaining the Olympic spirit. The Association of Summer Olympic International Federations (ASOIF) argues that introducing prize money undermines the values of Olympism, emphasizing that the focus should be on the honor of competing and winning, rather than financial gain.
The gap in pay between U.S. Olympians and athletes from other countries boils down to history, financial strategies, and cultural values.
References: Here's how much athletes at the Paris Olympics earn for winning medals | Do Olympians get paid? Everything you need to know about prize money – for some – at Paris Games
