It really pays to be an Olympian in so many countries. 🤑
If you've been watching the Games in Tokyo and wondering how much Olympic athletes get paid for winning a medal, it turns out that some countries pay their athletes a lot of money for making the podium and Canadian Olympians don't get as much in comparison.
According to Forbes, some nations don't even offer their athletes any money for winning medals at the Games, including Great Britain, New Zealand and Sweden. Here are seven countries that do give payouts to Olympians who get on the podium and how those figures compare to Canada.
United States of America
American athletes get US$37,500 for gold medals at the Olympics, US$22,500 for silver, US$15,000 for bronze. That's about $46,700, $28,000 and $18,700, respectively, in Canadian dollars and is quite a few thousand more than athletes here get.
Olympians from Malaysia get 1 million ringgits (about CA$294,700) for gold, 300,000 ringgits (CA$88,400) for silver and 100,000 ringgits (CA$29,400) for bronze. Also, there are monthly allowances of 5,000 ringgits (CA$1,400) for gold, 3,000 ringgits (CA$880) for silver and 2,000 ringgits (CA$580) for bronze.
Brazilian Olympic gold medalists at individual events in Tokyo get 250,000 Brazilian reals (about CA$59,800); silver medalists get 150,000 Brazilian reals (CA$35,900) and bronze medalists get 100,000 Brazilian reals (CA$23,900).
Teams with up to six athletes get larger payouts that have to be divided up between athletes. There are 500,000 Brazilian reals (CA$119,700) for gold, 300,000 Brazilian reals (CA$71,800) for silver, and 200,000 Brazilian reals (CA$47,900) for bronze.
For bigger team sports, athletes split 750,000 Brazilian reals (CA$179,600) for gold, 450,000 Brazilian reals (CA$107,700) for silver, and 300,000 Brazilian reals (CA$71,800) for bronze.
Italy is giving athletes 180,000 euros for gold, 90,000 euros for silver, and 60,000 euros for bronze at the Tokyo Olympic Games. That works out to about $266,500, $133,200 and $88,800, respectively, in Canadian dollars.
Singapore's rewards for winning Olympians blow Canada's figures out of the water.
For individual events, athletes get SG$1 million (about CA$921,200) for gold, SG$500,000 (CA$460,600) for silver and SG$250,000 (CA$230,300) for bronze.
For team events like athletics relay, badminton doubles, swimming relay, tennis doubles and beach volleyball, gold medalists split SG$1.5 million (CA$1,381,900), silver medalists get SG$750,000 (CA$690,900 and bronze medalists get SG$375,000 (CA$345,400).
Athletes who win a team sport like basketball, soccer, softball, rugby and water polo split SG$2 million (CA$1,842,500) for gold, SG$1 million (CA$921,200) for silver, SG$500,000 (CA$460,600) for bronze.
Australia's payouts are actually worth less than Canada's. The amounts for the summer Olympic Games are AU$20,000 (CA$18,300) for gold, AU$15,000 (CA$13,700) for silver and AU$10,000 (CA$9,100) for bronze.
While Estonia doesn't give out cheques every time an athlete takes the podium at the Games like other countries do, all Olympic gold medalists get a lifetime allowance of 4,600 euros (CA$6,800) per year for life, 2,700 euros (CA$3,900) for silver and 2,350 euros (CA$3,400) for bronze. When they reach retirement age, more money is added!