Olympians may be some of the most recognizable faces on the planet, but competing at the Olympics doesn't guarantee a paycheck for many athletes.
While some stars receive lucrative endorsement deals and the chance to take home a medal, the financial reality behind the scenes is often far more complex.
Join HELLO! as we explore how the world's top athletes fund their Olympic dreams, and how much they earn for winning gold, silver or bronze on the world stage.
Do Olympians get paid to compete?
© Getty ImagesThe short answer to this question is no. While their travel expenses, lodging and food are covered during the Games, they do not get paid to compete unless they win a gold, silver or bronze medal.
These medal winnings come from the athlete's own country's Olympic committee, rather than from the IOC itself, and the amount is at the discretion of each nation.
Many Olympians rely on sponsorship deals to make money off their sport, like gymnast Simone Biles, who has partnered with brands like Nike, Athleta and Uber Eats.
© Getty Images for USOPCSome athletes have full-time day jobs in order to fund their journey to the Olympics, like silver medal-winning American curler Korey Dropkin, who works as a realtor, as he told KARE 11.
His teammate, Cory Thiesse, works full-time as a wastewater tester. "I feel grateful that I have a job that pays the bills while I go compete in curling," she told the outlet.
As for retirement, Olympians from several nations like South Korea, China, Poland and Russia receive pensions, with Polish medalists able to receive their pensions once they turn 40.
Polish gold medalists can also cash in on a furnished two-room apartment, a painting, a vacation voucher and a Toyota Corolla, making the win even sweeter.
Do Olympians get paid for winning medals?
© Getty ImagesOlympians typically receive a payout from their home country for winning medals, with the US offering $37,500 for gold, $22,500 for silver and $15,000 for bronze.
Singapore awards an incredible $788,907 for gold, while Hong Kong offers $767,747 and Italy hands over $209, 804.
Importantly, the bonuses paid to medal-winning athletes in the US are not taxed, meaning they can take home the entirety of their winnings.
A game-changer for the USA
© Getty ImagesUS financier Ross Stevens has set out to support Olympians with a $100 million donation that will provide athletes with a retirement fund of $200,000.
"I do not believe that financial insecurity should stop our nation's elite athletes from breaking through to new frontiers of excellence," he said in a 2025 statement.
Every US Olympian and Paralympian will receive the money, regardless of performance, with the first $100,000 arriving 20 years after their first qualifying appearance, or at age 45, and the next $100,000 being gifted to the athlete's family after their passing. However, Olympians who make more than $1 million a year are not eligible for the payout.
© Getty ImagesUSOPC chair Gene Sykes told Town & Country just how meaningful this donation will be to thousands of Olympians in the US. "In the heart of every Team USA athlete lies a story of dedication, sacrifice and triumph. These extraordinary individuals have committed their lives to their sport, often at the expense of traditional career paths and financial savings," he said.
"As they approach the end of their competitive journeys – often as young as 25 or 30 – many face a daunting reality: the lack of financial savings to support them and their loved ones in their post-athletic life."
"Because of Ross' extraordinary generosity and philanthropic creativity, we can create more than a financial safety net – we can build a springboard that will propel these athletes to even greater heights beyond their Olympic and Paralympic careers," he added.
