What do olympians make

Here's a look at how much money medalists from 12 countries could take home, based on data compiled by CNBC from various national Olympic committees, sport associations as well as personal finance site Money Under More than U. The U.

In comparison, Singapore rewards its gold medalists nearly 20 times more than the U. The prize money is taxable and awardees are required to return a portion of it to their national sports associations for future training and development.

The sporting economy in the U. In places like Singapore, India and elsewhere, many of the national sporting initiatives are driven by governments that sometimes use higher monetary rewards to encourage a growing sporting culture, he told CNBC.

Malaysia also has hefty rewards for its Olympic winners. There are also opportunities in other world sporting competitions that have prize money, though that involves being in the top ten in a given sport. Though some end up doing odd jobs at seasonal events. For example, snowboarder Tyler Jewell sold sausages at a state fair in New Mexico, amongst other gigs.

In other countries, recent Olympians collectively hold full-time jobs as chef, firemen, farmer, janitor, landscaper, lawyer, nurse, physiotherapist, police officer, research analyst, software developer, trash collector, travel agent, writer. Some athletes have university scholarships, but these do not cover the cost of making it to the Olympics.

Unfortunately, the cost of being an athlete aspiring to be in the Olympics includes coaches, trainers, medical expenses, equipment, travel — not to mention the typical costs of living. In the past, athletes have subsisted on food stamps and sharing rent with roommates. Others hold fundraisers or auction themselves as celebrity dates or sometimes for sponsorships.

Other athletes are more extreme: Tongan luger, Fuahea Semi, changed his name to Bruno Banani, which is also the name of the German underwear and swimsuit company that sponsors him. Those who are entrepreneurially-savvy also start businesses, invest in real estate and bars, restaurants chains and more.

How Other Olympic-Hopeful Athletes Make a Living What about all the other Olympians who are not as entrepreneurial as the ones above and do not have endorsement deals?

That is, athletes could receive compensation, sponsorship from national and sports organizations as well as private businesses. American athletes had the disadvantage of competing against athletes from certain countries who were sponsored by their governments.

Olympic athletes could then get various funding sources such as financial awards, sponsorship or payment. In , professional athletes could compete in every Olympic sport. In , the Ted Stevens Act expanded to include the Paralympics. As a result, team members wear logos on clothing, accessories and gear. Special funds such as at livingthedreammedalfund.

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All Summer Olympic medals feature the same Greek goddess: Nike, the goddess of victory.