Athletes earn various incomes depending on the sport, competition level and overall skill. If you're an Olympic hopeful, the money you earn might come from several different sources. Understanding how Olympic athletes earn money can help you decide if you want to pursue this athletic career. In this article, we explain what an Olympian is as well as their average income sources.

Related:6 of the Best Alternative Careers in Sports

What is an Olympic athlete?

An Olympic athlete, or “Olympian,” is an athlete who competes in the Olympic Games. They often devote much of their lives to training for the international sporting games held every four years, alternating between winter and summer sports. Athletes first compete in their countries to how do olympic athletes make money while training bids to the Olympics. Once they’re chosen to represent their country in the Olympics, athletes compete for gold, silver, and bronze medals within their sport. Depending on the sport, they may participate as an individual or on a team.

How much do Olympic athletes make?

Olympic athletes do not receive a traditional salary for competing in the Olympics. They do receive bonuses if they earn a gold, silver or bronze medal. After they compete at the Olympics, they may receive corporate sponsorships, endorsement deals, appearance stipends and other sources of revenue.

Before they become Olympic athletes, they must train extensively, often preventing them from holding full-time jobs. Once they are selected to be Olympics-bound, athletes may receive corporate sponsorships or grants to support their preparation. For example, the U.S. Olympic & Paralympic Committee (USOPC), also known as Team USA, awards corporate sponsorship-based grants to athletes and training organizations for training, travel and other expenses. Team-governing bodies, like USA Archery, may also provide financial support gathered from dues to help athletes get ready for the Olympics.

Here's a look at each of these funding avenues:

Corporate sponsorships

Corporations may pay to have their name associated with an athlete or team preparing for the Olympics. Their logos appear on the athletes’ clothing or gear and the company name is included in advertising. Depending on the sponsorship, it may provide funds for training and competition.

Endorsement deals

Companies may establish a direct relationship, known as an endorsement, with an Olympic athlete. Medal-winning Olympians are especially attractive to companies for this type of deal. The athlete advertises or promotes a company's products or services. For example, an athlete may always wear a certain sports shoe or their image might be used on cereal boxes.

Related: 8 Types of Endorsements in Advertising

Medal bonuses

Though the International Olympic Committee doesn't award Olympic medalists with prize money, several countries award their athletes for medals earned. For example, the Global investable market index gives a “medal bonus” for each medal a U.S. Olympian earns. The higher they place, the more money they make. When it comes to team sports, the athletes split the money evenly.

If an athlete earns a medal bonus, the amount varies depending on the country they represented. In the United States, bonuses are $37, for a gold medal, $22, for a silver and $15, for bronze.
In addition to the medal bonus, medalists also get to keep their medals. A medal has monetary value depending on the metal used to make it.

Other funding sources

In some countries, Olympic hopefuls may receive special funding such as government or special program sponsorships. This isn't necessarily the case when it comes to U.S. athletes who most likely will have to seek funding elsewhere.

Whereas some athletes may ask their friends and family for funding, others may get sponsored by a local business, get an athletic grant or find a part-time job through the Olympic Job Opportunities Program. In terms of the latter, the USOPC partners with some American companies to provide athletes with a full-time salary and benefits while working part time. To gain acceptance, Olympic hopefuls have to achieve a certain ranking in a specific sport.

In addition to these funding sources, many teams cover an Olympian's travel expenses thanks to private and corporate donors. This allows Olympians to use their out-of-pocket money for other purposes.

Related Highest Paying Jobs in Sports

Securing a bid to the Olympics is, by design, no easy feat. 

Around 14, athletes earned that honor this past year, with over 11, at the Summer Games and just under 3, slated to compete at the Winter Olympics.

The American delegation alone will include members.

It’s an exclusive club, but for many of those who have spent countless hours training and preparing, the culmination of a successful Olympic bid makes the effort all the more rewarding.

But a bid doesn’t always translate into a rewarding payday.

Olympic athletes often struggle to piece together incomes even in the best of times, relying on prize money, stipends, sponsorship and crowdfunding to support their dreams. A full-time job is nearly impossible, given the physical demands of training and frequent travel to training camps, and the postponed Tokyo Olympics added an additional year of continued training costs for summer athletes.

More than half of U.S. Olympic hopefuls, or 59%, reported making less than $25, during the year of their respective Olympics, according to a COVID impact survey distributed to 4, athletes by the United States Olympic & Paralympic Committee (USOPC). A total of Olympic athletes and 94 Paralympic athletes responded.

For many athletes — about one-third of those polled by the USPOC — making a living primarily through sponsorships and prize money from competitions, both of which were thrown into limbo throughout a pandemic-altered year that delayed the Tokyo Olympics and canceled many other competitions.

Another quarter of survey athletes indicated that they rely almost entirely on employment unrelated to their sport.

While there are a number of factors that determine the financial security of Olympic athletes, one thing’s for sure -- they don’t get paid for being at the Olympics, at least not directly.

So how do Olympians earn money and how much? Here’s a breakdown:

Have Olympians always been able to earn money?

For most of the 20th century, the Olympics were filled with amateurs literally.

Frenchman Pierre de Coubertin, father of the modern Olympic Games, believed amateurism essential to the Olympic movement and for nearly a century that was the status quo.

Athletes caught receiving money in the early days of the Olympics were blacklisted, how do olympic athletes make money while training. Notably, Jim Thorpe was stripped of his gold medals in the classic pentathlon and decathlon after it was discovered that he had received small payments as a professional baseball player two years prior to the Olympics. Supporters of Thorpe successfully argued that the IOC didn’t follow its own rules of disqualification -- raising concerns about his eligibility with 30 days of the Olympics.

Thorpe’s children were eventually awarded two commemorative medals, nearly 30 years after his death in His original medals were placed in a museum and eventually stolen.

In the s, amid growing television network influence and speculation that some Soviet bloc governments were financing their athletes’ careers raising questions of fairness, the IOC gradually started to shift their policy in favor of professional athletes.

Throughout the s, the IOC continued to loosen restrictions on age minimums and amateurism, often leaving the decision up to the federations and countries.

The Games in Barcelona ushered in the new era of Olympic competition, how do olympic athletes make money while training, headlined by the Dream Team, labeled the “greatest collection of basketball talent on the planet.”

Do any winter sports still not allow professionals to compete at the Olympics?

Professional athletes can compete in any winter sport at the Olympics, that is unless you’re part of the NHL.

The NHL and IOC have had a tumultuous relationship for the past three decades, with Olympics officials and team owners struggling to align bitcoin investor seriö s rights goals and balance schedule demands. Fans of the game who were cautiously optimistic that things would change in 2022 for eitc rules for everyone investment income must be Beijing will have to wait four more years.

In response to surging COVID cases this past winter that caused a series of game cancellations and postponements throughout the league, the NHL announced the cancellation of its predetermined Olympic break.

For the past 30 years, NHL participation at the Olympics has been volatile, depending largely on scheduling, financial support by the league and cooperation of the team owners.

NHL players missed the first three Olympics professional athletes were eligible for due to scheduling conflicts before making their Olympic debut at the Nagano Olympics. They then made five straight appearances representing numerous different countries before tensions resurfaced ahead of the PyeongChang Olympics, with teams and the NHL refusing to cover player insurance and effectively blocking participation at the Games.

Three lockouts and two Collective Bargaining Agreements later, the NHL seemed poised to return to the Olympic stage in Beijing. Many players were disappointed by the Dec. 22 announcement canceling the Olympic break scheduled for mid-February.

“It’s extremely disappointing that the players aren’t going,” Bruins forward Brad Marchand said. “I think guys have worked their entire lives to put themselves in position to compete at that level and that opportunity. It should be guys’ decisions whether they choose to go or not, regardless of what’s happening in the world. If the Olympics are on and they’re playing, the best players in the world should have that option. It’s tough to deal with.”

Professional hockey players from other leagues will be representing their home countries in Beijing.

Does the International Olympic Committee pay athletes?

The International Olympic Committee (IOC) does not dole out any money -- for participation or prize.

However, athletes can earn money through endorsements, stipends and even medal bonuses courtesy of their home country.

What are Olympic medal bonuses?

The International Olympic Committee, the Games’ organizing body, doesn’t pay any athletes who participate in a particular Olympiad, or give out prize money for medals.

It’s akin to how leagues like the NFL and the NBA don’t pay players; instead, individual teams in the league are responsible for providing compensation. Unlike within those leagues, which have minimum salaries that teams must meet, there are no Olympics-wide requirements for paying athletes. Instead, the onus rests on individual nations or private parties.

One primary way countries choose to reward their top athletes who place among the top of the field in their how do olympic athletes make money while training competitions is through medal bonuses.

Many countries offer monetary rewards to their athletes for the number or type of medals they win at the Olympics.

How much are the U.S. Olympic medal bonuses?

As part of “Operation Gold,” an initiative the USOPC launched inhow do olympic athletes make money while training, U.S. Olympians who reach the podium receive payments of $37, for every gold medal won, $22, for silver and $15, for bronze.

Since Octoberlegislation has ensured athletes will bring home % of their earnings, too. Congress that year nixed a so-called “victory tax” that had previously designated prize money as taxable earned income, though Olympians who report gross income of more than $1 million a year are still subject to the tax.

Why do Olympians bite their medals? The answer to that and more as we take a deep dive into the history of Olympic medals.

Which country gives the biggest medal bonus?

Singapore offers what could be the biggest prize for an individual gold medal: 1 million in Singaporean dollars, or roughly $, USD. Silver medal winners get about $, and $, for bronze, CNBC reports.

Medalists from the next highest two countries, Kazakhstan and Malaysia, earn about $, for gold medal. The Tokyo Olympics host country Japan gave athletes finishing at the podium $45, for gold, $18, for silver and $9, for bronze.

Ahead of the Tokyo Olympics, the U.S. gold medal bonus of $37, was ranked ninth in the world.

How much do Olympic athletes make from sponsorships?

Of course, Olympians will end up on Wheaties boxes and in television ads, too, employing their likenesses to market products or services through individual deals.

The exact values of Olympics sponsorships are often not disclosed. But for the upper echelon of athletes, the household names that dominate headlines and Olympics ads, figures stretch into the millions.

InReuters reported that now-retired Jamaican sprinter Usain Bolt signed a roughly $10 million a year deal with Puma during the years he continued to compete. Forbes in estimated Bolt made nearly $33 million during a month period.

Katie Ledecky, who won two gold medals in Tokyo, signed a $7 million contract with swimwear brand TYR in after earning a whopping four gold medals in Rio, according to ESPN’s Darren Rovell. Her deal, reported to run through the Olympic Games, was one of the “most lucrative” partnerships in swimming history, TYR said in a June release.

A marketable athlete like Simone Biles earns at least $5 million a year, according to a Forbes estimate, through her many sponsorship partners, including major companies like Visa, Athleta, United Airlines, Oreo’s, Uber Eats, MasterClass and Facebook.

U.S. athletes in Beijing will also have more freedom than ever before to benefit from sponsors thanks to a decision from the USOPC that loosened marketing rules. Competitors may now thank personal sponsors, appear in ads for those sponsors and receive congratulatory messages from them during the games — but without mentioning or displaying the Olympic logo — all aspects that were previously blocked.

Shaun White, one of the biggest names of the Winter Olympics, received his first board sponsorship at age 7. Following his first gold medal in Turin, snowboard-manufacturing company Burton signed him on to a year contract. While the specific details weren’t disclosed, White was estimated to pocket around $10 million a year in sponsorships.

That deal has since expired, leaving White without a board sponsor for the first time in 24 years. The year-old has taken creative licensing into his own hands, starting his own brand -- titled Whitespace -- and even featuring his niece, Charli, prominently on one of his boards.

And for the first time, collegiate athletes will also be able to benefit from any commercial endorsements they may secure at the Olympics thanks to last month's landmark Supreme Court ruling that prompted the NCAA to change its policy on athlete’s ability to earn money from their name, image and likeness.

All Summer Olympic medals feature the same Greek goddess: Nike, the goddess of victory. Watch to learn why this figure of ancient Greek mythology became a fixture in the Olympic Summer Games.

How else do Olympic athletes make money?

Even if an athlete doesn’t earn a medal or get signed by a corporate sponsor, they could still earn “wages” for competing in the form of stipends. 

In the United States, the USOPC distributes some of its funding among 45 national governing bodies (NGBs), 37 of which oversee sports in the Summer Olympics. The Committee handed down $21 million in grants directly to athletes and another $66 million to training organizations inaccording to the nonprofit’s most recent impact report.

Pay systems from there vary by NGB, which can also generate income and provide additional athlete compensation independent from the USOPC.

The money is allocated based on performance, or "likelihood that an athlete will win a medal," Team USA spokesman Mark Jones previously told NBC. However, this pay-for-performance model leaves some less-popular organizations struggling to support their athletes, and only those likely to win a medal getting financial support.

USA Weightlifting, for instance, has an annual budget of $, excluding $, it receives from the USOC, to help provide funding support for its athletes and pay for training and competition expenses. Weightlifters likely to win a medal can receive a stipend of $4, a month, while those "likely to qualify" for the Olympics get $2, Weightlifters still in the development phase of their career are eligible to receive $ a month.

USA Boxing also relies on a mixed system, especially because the team only allows amateurs to compete at the Olympics (though Team USA allowed pros to compete in Tokyo, spurred by the COVIDcaused cancellation of the Americas Olympic Boxing Qualifying Event earlier this year). A sport-wide change in welcomed professional boxers into the Olympics for the first time, but USA Boxing held out longer.

The amateur boxers on the USA squad receive base stipends of $1, a month. They can also win world championship medal bonuses, like How do olympic athletes make money while training bonuses, which tier from $40, for a gold medal to $35, for silver and $30, for bronze, according to a team spokesperson.

Matthew Johnson, USA Boxing’s high performance director, notes that boxers have access to high end training facilities and top coaching, resources he says are estimated at $50, to $, a year, which USA Boxing sees as its advantage over the professional world. 

“A lot of times, people see what’s going directly into your bank account. But they don’t see all the other value that comes with being a part of Team USA, the resources and how do olympic athletes make money while training the support that you have on a day-to-day basis,” said Matthew Johnson, USA Boxing’s high performance director. “That’s a big piece that we’re trying to educate our members on, to show the value of staying in the amateur program.”

Other organizations also provide monthly payments to athletes but don’t disclose the exact figures. USA Softball says it pays all of its athletes each month, including 15 players on the roster and three alternates, how do olympic athletes make money while training, and provides money for meals on each trip. Most of the players have personal sponsors, too, a spokesperson said.  

Unmish Parthasarathi, founder and how do olympic athletes make money while training director at consulting firm Picture Board Partners, tells CNBC one profitable career move for athletes is to go into coaching after retirement as people are willing to pay a premium for former Olympians.

The U.S, how do olympic athletes make money while training. reached a historic milestone by capturing its 1,th gold medal in the history of the Olympic Games at the Rio Olympic Games. It was the continuation of the United States’ history of global domination at the Olympics.

Has COVID affected how Olympic athletes get paid?

About 75% of the athletes responding to the USOPC survey reported losing income due to the pandemic. More than a quarter said they lost more than half of their income.

“It’s a little bit tough because at the end of the day my contract, that’s my salary,” track and field athlete Ryan Crouser told The Associated Press in March “That’s where I make the majority of my money.”

Another 28% of responders from the survey said they applied for and received unemployment benefits, while more than a third said at the time they weren’t sure how to apply or if they were eligible.

To help mitigate these lost earnings, the USOPC partnered with the Athletes’ Advisory Council and NGBs to raise more than $ million for a COVID Athlete Assistance Fund, the organization announced in October

The efforts resulted in supplemental one-time stipends of $1, for 1, athletes in the U.S., the USOPC said.

“We heard directly from so many athletes and, with our incredible donors, recognized the opportunity to step in to help alleviate the financial burdens many Olympic and Paralympic athletes are facing,” USOPC CEO Sarah Hirshland said in the statement.

One year out from the rescheduled Olympic Games in Tokyo, athletes share their thoughts on the COVID pandemic, vaccines and what it would take for them to feel safe at the Olympics.

How Olympic Athletes Make a Living

We all know that famous professional athletes can make a great deal of money &#; sometimes more, even if they&#;re retired. For example, Michael Jordan, over ten years retired, made $90M in &#; possibly more than all of the athletes in the Sochi Winter Olympics combined &#; and more than every other active professional athlete individually. Everyone, that is, except for boxer and former Olympian Floyd Mayweather &#; who earned at least an estimated $80M, possibly more, in just one fight (against Saul &#;Canelo&#; Alvarez) alone in He also fought Robert &#;The Ghost&#; How do olympic athletes make money while training inearning at least $32M (guaranteed) for that fight, excluding pay-per-view fees.

However, Olympic athletes are typically nowhere nearly as fortunate. In fact, the IOC (International Olympic Committee) does not pay athletes a cent for their appearance in the Olympics. Athletes have to fund their way either from their own pockets or through other means, how do olympic athletes make money while training. Here&#;s a look at how some of them have done just that, as well as what former Olympians are up to in their careers.

The Goal of Gold

How do Olympians fund their Olympic dreams? One way is out of their own pockets. According to www.oldyorkcellars.com, the 5 richest American Olympians at Sochiexcluding professional athletes such as the NHL hockey players, are as follows:

1. Snowboarder Shaun White, $20M, from various endorsements and his majority share the Air & Style competitive snowboarding event.
2. Alpine skier Bode Miller, $8M, from endorsement deals.
3. Alpine skier Ted Ligety, $2M, from endorsement deals, prize money in competitions, founding ownership in Shred Optics (ski goggles, sunglass, helmets).
4. Snowboarder Hannah Teter, $1M, from sponsors and founding ownership in underwear line Sweet Cheeks.
5. Snowboarder Lindsay Jacobellis, $1M, from endorsement deals and sponsorships.

Looks like quite a trend there (snowboarding, alpine skiing), though keep in mind that Sochi was for Winter Olympics. Also note, this does not mean these athletes paid their own way to the Olympics.

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? First, a quick bit of history on the lifting of the amateur status for Olympic events.

• Inthe IOC (International Olympic Committee) removed the requirement of being an amateur. 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.
• That&#;s because American Olympic athletes had to be amateurs (no payment) untilwhereupon the Ted Stevens Olympic and Amateur Sports Act was adopted. U.S. Olympic athletes could then get various funding sources such as financial awards, sponsorship or payment.
• Inprofessional athletes could compete in every Olympic sport.
• Inthe Ted Stevens Act expanded to include the Paralympics.

Since then, athletes sometimes have corporate sponsors &#; which is different than an endorsement deal.

• U.S. corporations might spend millions each year sponsoring an entire team instead of one athlete. As a result, team members wear logos on clothing, accessories and gear.
• For example, American Olymipan swimmer Ryan Lochte was estimated getting $M from multiple sponsors fordependent on medal performance in London (he received 2 gold medals, 2 silver, 1 bronze).

There is also some money from the USOC and other sources:

• The USOC made over $M annually between from just U.S.-only broadcast rights.
• An additional $M annually came from U.S. corporate sponsors.
• Out of that money the USOC pays athletes how do olympic athletes make money while training bonuses: $25K for gold, $15K for silver, $10K for bronze &#; rates that have stayed the same for over a decade, and thus have declined in value due to inflation.
• Special funds such as at www.oldyorkcellars.com, set up for Olympic wrestlers. Prizes are $K for a gold medal, $50K for silver, and $25K for bronze.
• USA Swimming pulls in about $M per year from registration fees from about K members. Members who are on the National Team that rank 16th or higher get a $3K per month stipend. InUSA Swimming paid out $7M to National Team swimmers. (They also pay stipends college athletes.)

Given there are a limited number of medals at any Olympics (Winter or Summer), and many thousands more athletes, not everyone will be fortunate enough to get sponsorships, endorsements, and medal bonuses, and thus not necessarily have the funds to how do olympic athletes make money while training entrepreneurial. In some countries Olympic hopefuls are sponsored by their government or special programs. In the U.S., things are different.

• Get funded by friends and family.
• Get sponsored by local businesses.
• Get funded by community &#;bake sales.&#;
• Some larger American companies partner with the USOC (U.S. Olympic Committee) and participate in the long-time OJOP (Olympic Job Opportunities Program). They pay full-time salaries and benefits to athletes but allow them to work part-time. However, some companies have dropped out of the program. Athletes also have to have a certain ranking in a given sport to be accepted.
• As well, the USOC provides funds to national governing bodies for each sport, typically to cover the costs of technology, shipping equipment overseas, etc.
• There are also various foundations backed by corporations that give out grants to athletes, albeit not just to Olympic hopefuls. The Ross Powers Foundation has given out over grants valued at $K to recipients since Of these, at least 12 recipients have competed in the Olympics.

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. For example, Jack Wickens, USA Track and Field Foundation Board directory, evaluated the income of track and field athletes and found the following:

• Income depends on event; sprints and marathons competitions pay the most.
• About 20% of top 10 What type of variable is return on investment statistics T&F athletes make over $50K annually.
• Less than $15K annually is what about 50% of T&F (Track and Field) athletes who rank in the top 10 in the U.S. This is from all sources: sponsorships, grants, prize money, etc.). Anyone below top 10 ranking in the USA likely has little to no income or funding from their sporting activity.
• The top 10 runners in the world in this sport can earn $K annually, while the top 2 can do far better.
• Runners in the th positions range from $10K to $60K annually, either doing moderately well in a given year or poorly.
• All other runners below these rankings tend to have other jobs.
• Top triathletes can make $K annually. Some make over $1M annually (e.g., how do olympic athletes make money while training, Chrissie Wellington and Chris McCormack.) The rest might top out how do olympic athletes make money while training $20K.

Those who do not get sponsored or get hired under OJOP or compete in other athletic events typically hold down regular jobs that give them some flexibility to train, including but not limited to being &#;typical&#; work having a physical component: coaches, fitness instructors, golf club staff. 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. As he pointed out, it&#;s difficult to have a full-time job when training sessions run 5 hours (or more) per day.

Here&#;s a small selection of what some American athletes who have either made the Olympics or are hoping to do so in the near future how do olympic athletes make money while training for a living.

• Accountant &#; Gwen Jorgensen (triathlon) works at Ernst & Young.
• Actor &#; Jamie Nieto (jumper).
• Army specialist &#; Dennis Bowsher (pentathlon) is a specialist in the U.S. Army.
• Coach &#; Jared Frayer (wrestler) is a coach and teacher.
• Construction worker &#; Lance Brooks (discus thrower).
• DJ &#; E.g., Race Imboden (fencing), who was also an intern for a record label.
• Dog walker &#; Jazmine Fenlator (bobsled driver), who also worked odd jobs in food service and has received financial aid from her community, as well as sponsorship from Liberty Mutual Insurance.
• Health researcher &#; Natalie Dell (rower).
• Life adviser &#; Troy Dumais (diver) works at University of Texas.
• Model &#; Kerron Clement (hurdler), who is also an actor. Zsuzsanna Francia (rower) is a fitness model and writer.
• Motion graphics designer &#; Chas Betts (wrestler).
• Motivational speaker &#; Dotsie Bausch (cyclist).
• Plumber &#; Jonathan Cheever (snowboarder).
• Recruiter &#; Nicole Joraanstad (curler) is a full-time HR recruiter in Wisconsin, but claims it costs up to $K for a single season to qualify for the Olympics.
• Teacher &#; Emil Milev (shooter) is a phys ed teacher in Florida.
• Waiter &#; Taylor Fletcher (Nordic combined skier), who says that it costs about $20K per year to compete at the top of his sport.

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.

Still others have part-time jobs and/or live with parents or other family to cut down on costs. 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 how do olympic athletes make money while training 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. E.g., Steve Prefontaine (runner), how do olympic athletes make money while training, before the Olympics &#; before the rules for Olympic athletes accepting endorsements changed. 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.

The Lucky Ones: How Former Olympic Athletes Make a Living

Here is a non-comprehensive list of former Olympians and how they&#;ve made a living or otherwise attracted attention to their post-Olympic careers.

• Get endorsement deals. How do olympic athletes make money while training is the dream, of course. Michael Johnson (sprinter) are bonds good investment today was labelled the &#;fastest man alive&#;, has been a television commentator, newspaper column writer, owner of a training facility for young athletes, owner of sports management company Ultimate Performance, reality show contestant on The Celebrity Apprentice, documentary filmmaker, London Olympics torch bearer for the Stonehenge to Salisbury segment. ).
• Become a coach. Nadia Comaneci (gymnast) defected from Romania in While she initially arrived in the U.S., she settled for a time in Montreal, Canada, promoted a line of gymnastics wear and aerobic equipment, modeled, appeared in TV commercials (wedding dresses, Jockey underwear),  married an American athlete (Bart Conner) and eventually became a naturalized American citizen.
• Become a professional athlete. Floyd Mayweather (boxing), as mentioned early, is making a fortune as a professional boxer and taking a cut of Pay-Per-View fees by representing himself.
• Become an actor. There are several athletes in this category, past and present, including Johnny Weismuller (swimming), Jason Statham (diving team), and Ryan Lochte (swimmer). Esther Williams (swimmer) was to be in the Olympics and probably Olympics, both of which were cancelled due to World War II. She was a commentator for the Summer Olympics in Los Angeles.
• Do voiceover work on animated TV shows and film. Michelle Kwan (figure skating) has done voice work on The Simpsons, Family Guy and Mulan II. She is also an actress, appearing in the TV show &#;Sabrina, the Teenage Witch&#; and the film &#;Ice Princess.&#;
• Become a reality TV star. Bruce Jenner (track and field) is a former Wheaties cereal box poster boy, actor, NBA Draft pick, and a reality TV star, how do olympic athletes make money while training, as the step-dad of the Kardashian clan  (of the reality show Keeping Up the With Kardashians).
• Become a professional wrestler. Kurt Angle is the only wrestler to both win a gold medal in the Olympics as well as championships in WWF/ WWE professional wrestling.
• Become a sportscaster / commentator. Mark Spitz (swimmer) has been an ABC sports commentator, film narrator, and done TV commercials for Milk, Schick razors, Sprint, GoDaddy and others.
• Become a celebrity spouse. To be fair, Wladimir Klitschko (boxer) is now a professional heavyweight boxer (who might compete in the Summer Olympics in), but not originally being American, he&#;s included here how do olympic athletes make money while training he is engaged to American actress Hayden Panettiere (&#;Heroes&#;, &#;Nashville&#;) &#; which would make him at least a permanent resident if he is not already.
• Work for Disney. Kerri Strug (gymnast) was in the Ice Capades and Disney&#;s World On Ice, then later a school teacher, how do olympic athletes make money while training, held various positions with the U.S. government, and was a Yahoo! correspondent at the Summer Olympics.
• Become a call girl. Suzy Favor Hamilton, a three-time Olympian runner, claims depression pushed her into prostitution.

Those who are entrepreneurially-savvy also start businesses, invest in real estate and bars, restaurants chains and more.

References

Information for this article was collected from the following pages and web sites:

1. www.oldyorkcellars.com?ic_id=tb_
2. www.oldyorkcellars.com
3. www.oldyorkcellars.com
4. www.oldyorkcellars.com
5. www.oldyorkcellars.com
6. www.oldyorkcellars.com
7. www.oldyorkcellars.com
8. www.oldyorkcellars.com
9. www.oldyorkcellars.com
10. www.oldyorkcellars.com
11. www.oldyorkcellars.com

How do Olympic athletes make a living? Most are not wealthy, and most have to fund their own training.

I think many of us tend to assume that anyone who has a show on television, stars in a movie, or who competes in sports at the Olympic-level is “wealthy&rdquo.

Perhaps they don't have the type of home that can be showcased in MTV's Cribs, but it's not a stretch to assume that they can at least purchase a car outright, plunk down as much money as their latte habits demand, and generally enjoy life.

The limelight is glamorous and the people in the limelight are glamorous looking…so the money must be flowing, right?

Unfortunately, it seems that Olympians who also happen to be wealthy are the exception, not the rule.

To make it to the Olympics, one must be singular in their focus almost to the point of obsession.

This is to the detriment of most other things in life, including money — both earning money, which takes your focus off of training, and accumulating money, as the little earnings Olympians and Olympian hopefuls make on the side is spent on things like equipment, trainers, travel, and coaching.

Pssst: here's even more Olympics inspiration to help you meet your own life and money goals.

The majority of Olympians must train for so many hours during the day to earn their spot in such an elite category of athletes that they only have time for part time work.

Some do not work at all because their focus is so singular and their drive is so intense that they simply choose to not take time away from their dream.

Take Steve Prefontaine for an example. Leading up to the Olympics he was receiving food stamps and splitting $15 rent with another roommate (this was before Olympic athletes were allowed to accept endorsements), how do olympic athletes make money while training. The Track and Field Association recently surveyed its top athletes and found that 50% of track and field athletes who ranked in the top ten make less than $15, per year. Olympic athlete Cyrus Hostetler (javelin thrower) states on his personal website, “Sometimes the competition that I face is not the competition on the track but rather the competition of finances, and every year it's a losing battle. When you total up all the cost of coaching, trainers, medical, equipment, and travel expenses my monthly paycheck just doesn't add up.” He made a total of $2, for throwing a javelin in

How Do Olympic Athletes Support Themselves?

We all need money to live on and $2, a year or even $15, a year is typically not going to cut it. So how do Olympic athletes (the ones without the huge endorsements and 16 gold medals) make ends meet?

1. Hold Down a Part Time Job

I think the key with any passion is to make money from that passion, to make money from working in a field as close to the passion as you can get, or to find a flexible job that will allow capital investment analysis is best accomplished by techniques that to spend as much time as possible pursuing your passion on the side.

Cyrus Hostetler is a website/graphic designer for the US Olympic Trials Track and Field project management team.

This allows him to train hours every day, work on the logistics of sports he loves, and still earn a living to pay his bills. Swimmer Amanda Beard has been modeling since she was 16 and continues to do so in addition to the book she wrote and her motivational speaking engagements.  earn extra money from home uk Prefontaine worked for a short while at Nike (before it took off).

2. Share Living Arrangements

Olympians and Olympian hopefuls make many sacrifices in order to fund their dreams.

One of them often includes living on their own. It is typical for an Olympic athlete to share living arrangements with others.

While some athletes like Prefontaine informally seek roommates to share the rent, others live with host families while they train.

I found one ad on Craigslist looking for host families (Salt Lake area) for the hockey season for Regulators Hockey. The specifications are to provide a good environment, furnished room, nourishing meals, how do olympic athletes make money while training, car rides to practices, a bathroom, and laundry facilities.

Host families for this organization are given a $ per month stipend. A quick Swagbucks internet search shows that there are many organizations and athletes looking for host families during training events.

3. Raise Money

Some athletes hold fundraisers in order to help fund their athletic training and travel.

• Olympic hopeful Nick Symmonds (meter run) auctioned his left shoulder on eBay for the top bid of $11, (Hanson Dodge Creative).
• Rose Wetzle and Falesha Ankton hosted a fundraiser for themselves at a local cocktail bar with drink specials, a ring toss, and raffle.
• Cyrus Hostetler solicits donations and contributions on his personal website. In his blog he details his financial situation, and states that he only makes money from winning prizes, so “this makes the time between big competitive meets financially hard&rdquo. Norris Frederick auctioned himself off as a celebrity date.
• InAdam Nelson successfully auctioned a $12, sponsorship on eBay.

4. Accept Government Assistance

As far as direct help from the government, US Olympians are out of luck. Many other nations do provide money to their top athletes.

For example, in the UK there is funding from the government as well as the lottery. In Indonesia, the government supports their Olympic athletes while they train and perform, and in China and Korea, Olympic medalists are given pensions and other retirement assistance.

Many countries have pledged money to various levels of medal winners, just like the prize money awarded to American medalists.

Other lotteries such as the South African lottery and EuroMillions lottery also help fund Olympic athletes.

5. Source Funds from the US Olympic Committee (USOC)

The USOC is a non-profit organization that serves as the national Olympic committee in the United States.

Funded by private contributions, corporate sponsorships, and the International Olympic Committee, the USOC provides training centers, funds, and support staff to elite athletes.

For example, the US Rowing Association received $ million towards its Olympic team. Women on the US Rowing team receive between $$ a month stipends from this money to help cover bills.

6. Receive Prize Money

In the IAAF created IAAF Competition Awards to continue their quest in financially motivating and securing athletes at the highest level.

The USOC also offers the following prize money: $25, to gold medal winners, $15, to those who take home a silver and $10, for a bronze. Some private sponsors offer incentive-based prize money.

An example of this is Speedo’s promise of $1 million to Michael Phelps in if he met Mark Spitz’s record of 7 gold medals.

7. Funding through Associations that Collect Membership Fees

Associations of more popular sports, such as USA Swimming, can afford to fund their Olympic athletes through membership fees that hobbyists and professionals pay.

For example, the USA Swimming Association pays a $3, monthly stipend to National Bitcoin investing for beginners step by step Members ranked 16^th or higher.

8. Score an Endorsement

The list is pretty large in terms of which companies will sponsor winning Olympic athletes or Olympic hopefuls.

Probably one of the most extreme examples of endorsements is when Luge racer Fuahea Semi legally changed his name to German Underwear and swimsuit company Bruno Banani.

It should be noted that sponsorships and endorsements tend to follow the more popular sports (sorry steeplechase Olympic athletes, I think you are out of luck on getting a cereal box deal).

What I love about this is that many people have found a way to pursue their passion and still survive financially.

What makes me sad is bitcoin investopedia analysis think of all of the stories that have not been written about the athletes who have been unsuccessful in funding their dreams. I think this happens in many professions from artists and writers to athletics and theater. However, I am a believer that where there is a will, there is a way. Let’s hope we all find our way, just as these Olympic athletes have done.

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Amanda L. Grossman is a Certified Financial Education Instructor, Plutus Foundation Grant Recipient, and founder of How do olympic athletes make money while training Confessions. Over the last 10 years, her money work helping people with how to save money and how to manage money has been featured in Kiplinger, Washington Post, U.S. News & World Report, Business Insider, LifeHacker, Woman's World, Woman's Day, ABC 13 Houston, Keybank, how do olympic athletes make money while training, and more. Read more here.

While the Olympics is one of the most famous sporting competitions in the world, it is only how do olympic athletes make money while training to take place every four years. So, while other professional athletes can rely on a steady income most of the year round, how do Olympic athletes get paid and make a steady income?

Indeed, athletes train for months, and sometimes even years to make it to the Olympic Qualifiers, let alone be selected to go to represent their countries. So do Olympians get paid for all of their time and efforts.

Do Olympians Get Paid to Train?

Depending on the sport, several athletes do not make enough income, whether it be the Olympics or other tournaments/competitions throughout the year, to the point where they are forced to take on a second job.

However, some athletes get financial support for expenses leading up to the Games, such as training supplies, equipment, etc, how do olympic athletes make money while training, but this is only ever covered by sponsors, grants or scholarships how do olympic athletes make money while training. those provide by the country they represent or companies)

Athletes don’t receive any money from the Olympic Committee in order to prepare for the competition.

Do Olympic Athletes Get &#;Paid&#; to Take Part?

Olympic Athletes don’t receive how do olympic athletes make money while training money from the Olympic Committee to take part in the actual games.

However, athletes may be paid by the country they are representing or by other institutions or sponsors that back them. So while there is no “Olympic salary” per se, athletes do usually get paid by other interested parties for taking part.

Olympic athletes pay is also often incentivised, with significant bonuses handed out to medalists. For example, in the Winter Olympics, the U.S. Olympic Committee paid out $37k for gold medalists, $k for silver, and $15k for bronze winners.

Meanwhile, Singapore swimmer Joseph Schooling received a pretty pay how do olympic athletes make money while training for his gold medal in the Summer Olympics, as Singapore reportedly was giving $1 million incentives to their Gold medal winners. Schooling is in small company, as he is Singapore’s only gold medalist in their Olympic history.

How Do Olympic Athletes Make Money?

Olympic athletes make money mainly through sponsorship deals, medaling in the Games, or participating in leagues for their sport outside the Olympics. Some athletes also receive grants or scholarships by countries or institutions which helps to cover the cost of their training.

How much money Olympic athletes can make through sponsorships largely depends on the profile of the athlete and the sport they are taking part in. Usain Bolt, for example, made $32 million in the year running up to the Olympics, with several of his sponsors (such as Gatorade, Virgin Media and Puma) paying him between $1 million to $4 million per year, while most athletes in most other sports will make just enough from their sponsorships to cover their training and travel costs.

Can Olympic Athletes Get Paid for Endorsements?

Yes. Endorsements are often the main source of income for many of these Olympic athletes and you’ll often find many commercials and other forms of merchandise (never forget the Wheaties box) shortly before and after the Olympics.

Who Pays Olympic Athletes?

Olympic athletes are typically paid or receive funding from the country they represent, any institutions that provide them with a scholarships or grants, and sponsorships from companies they endorse.

Do Olympic Athletes Have Jobs?

While high-profile athletes from mainstream sports like football or basketball make a good living from their respective sports, many Olympic athletes have to get jobs alongside their training in order to make ends meet.

Canada’s Lanni Marchant, how do olympic athletes make money while training example, competed in the 10,m event in Rio but she is also  criminal defence attorney. Then there’s Australian’s Paul Adams who participates in the shooting events, between working as a nurse in a hospital in Brisbane.

How Much Do Olympic Track Athletes Make?

After Usain Bolt’s dash (pun intended) into the spotlight several years ago, the Jamaican’s accomplishments landed him world-wide fame, especially from one of his main sponsors, Puma. Due to his on and off the track accomplishments, Bolt is now worth a little over $90 million.

However, with track and field athletes being as competitive as they are, it’s hard to get recognized and anywhere close to Bolt’s level of fame and influence. Due to this, many runners, with both the Olympics and tournaments outside the Games, can make a little north of $k.