Some countries, mostly those who win very few medals, are much more generous with their prize money, according to moneyunder30.com. Only one of the delegations six athletes in Tokyo still has a shot at that prize this year: 400-meter runner Mohammad Jahir Rayhan, who will be lucky to advance out of the preliminaries. If you buy through our links, we may earn a commission. 1, which, depending on your musical tastes, could be a nice prize itselfor if your preferences are more like mine, maybe a punishment. As a general rule they will pay for competition entries when an athlete is representing, they . (In the team events, medalists divide up larger pots of money.) Yahoo Finance reports that those delicious prizes remain on offer in Tokyo. Indonesia's Aflah Prawira competing in a heat for the men's 1,500m freestyle on July 30. Australia, however, offers far less Olympic medal prize money relative to other nations. UK Sport's funding for Olympic and Paralympic sport for the Tokyo cycle is 374 million, with 69 per cent from Lottery money, and 31 per cent from the government. They changed the rules so athletes won't be taxed on their medal bonuses if they make under $1 million annually. But countries bonus schemes can differ in ways other than the amount. At the same Olympiad, German medalists got a lifetime supply of beer, and Belarusian winners received a stockpile of sausage. Russia . Another source of income is through endorsement deals. Spending around a month in the Olympic village can be costly for Olympic athletes. All contents 2023 The Slate Group LLC. (Lin-Manuel Mirandas Hamilton neglected to mention you could go pro in that.) Spending around a month in the Olympic village can be costly for Olympic athletes. The 19-year-old phenom passed up on sponsorship deals in order to swim for Stanford this fall, but she'll still accept hundreds of thousands in prize money for her six medals. US athletes striving toward the Olympics are generally left to their own devices in terms of funding training and travel for most of their careers, and even once they reach the top tier, they. Still, these exemptions can be critical for prolonging an athletes career. There are much bigger bucks available, particularly from countries that are still trying to make the Olympic big time and arent expecting to hand out medal bonuses up and down their rosters. That's wealth. . The first, stipends. [22], The largest prize money under the MAP is for athletes who clinch an Olympic gold medal. So, not only is there an incentive to stand on the pedestal in order to have your name etched in Olympic history, but the athletes also look forward to the cash prize that comes with it. Other competitors resort to crowdfunding sites to gather the money and support they need to keep competing. U.S. athletes also receive other forms of support including health insurance, access to top-tier medical facilities and college tuition assistance. Got it. While all A-level athletes each month get a salary of about $2,800 and roughly $2,500 for training, gold medalists see their monthly wage rise to $4,500 for two years, with the same preparation funding. Its not the only country that offers additional pay for a record breaker. The countrys Ministry of Culture, Youth and Sport will pay about $112,000 for each individual gold medal, and the national Olympic committee will tack on roughly $11,000. We pay to our very top athletes around $4,000 a month, plus performance bonuses. Competitors don't really receive a fixed salary. The United States Olympic Committee awards cash prizes of $25,000 for gold, $15,000 for silver, and $10,000 for bronze. 11 on this list for giving its Olympic gold medalists a lifetime allowance of 4,600 euros per year ($5,500), with additional support as they approach retirement age. A lot of hourly jobs went away for a good period of time during COVID. Italy now pays 180,000 euros to its gold medalistsa 20% jump from 2016plus 90,000 for silver and 60,000 for bronze. The United States gives athletes who win gold $37,500, while one European country awards six figures. Shes also receiving free lifetime flights on AirAsia Philippines, a house courtesy of President Rodrigo Duterteplus at least three more homes that companies and benefactors have promised her. This is a BETA experience. Advertisement Team-sport athletes receive smaller bonuses from the National Sports Agency than the $110,000, $82,000 and $55,000 that individual-sport athletes get for gold, silver and bronze medals, respectively. For example, snowboarder Chloe Kim signed with Nike, meaning she can appear on their advertisements. Something like a $250,000 earning turns into $125,000 really quick. And then there was training facilities being shut down. The British Olympic Association does not pay athlete salaries, nor do they pay medal bounties. 10 Kyle Keith Shewfelt Shewfelt is a gymnast from Canada. The Estonian Olympic Committee bestows roughly $112,000 for each individual-sport gold, $78,000 for silver and $50,000 for bronze. Sixty percent of elite athletes don't consider themselves financially stable. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. The fencer arrived at the Games ranked 19th in foil, and his path didnt get any easier from there: He had to face 2018 world champion Alessio Foconi in the Round of 16 before tangling with the defending Olympic champion, Daniele Garozzo, in the final. "You want it to just be about the competition," he told CNBC, "but. A 29-year-old Olympian who reaches the life expectancy of 78 would collect more than $300,000. Olympic athletes train for years at a time, competing in various events ahead of the Winter Olympics. The Czech Republic has 116 athletes competing in Beijingtying with Sweden for the ninth-largest delegation at the Gamesalthough 48 come from its mens and womens hockey teams. And that's the amount an athlete earns for each medalso let's say you. Malaysia diver Yan Yee Ng during the three-meter springboard preliminary round on July 30. This content is imported from poll. For most athletes, it's not enough. But the select few who are able to scale the podium339 sets of medals are set to be awarded at the Tokyo Games, across 33 sportsmay find that their countries are willing to make it all worth their while. Its free! Russian athletes who won gold medals at the Sochi Winter Olympics have each been rewarded with a Mercedes GL-Class SUV worth $146,500. . So always going into a race with that is an immense amount of pressure. I feel like I am one of the best in America. So, not only is there an incentive to stand on the pedestal in order to have your name etched in. The IOC has recently eased Rule 40, which prohibited athletes from making money off their image rights before, during, and after the Olympics. NBC Olympics is the U.S. broadcast rights holder to all Summer and Winter Games through 2032. They do receive a lifetime government pension, which may have played a role in gymnast Artur Dalaloyan competing in Tokyo three months after rupturing an Achilles. Compare that to the salary of USA Track & Field's CEO, who earned $1.2 million in 2018. ZipRecruiter has a payroll of $26,499,880,000. New rules approved last year from USA Track & Field, the sport's national governing body, set aside $10,000 for any . The World Athletics Championships are the largest event in track and field, and this year, almost 2,000 competitors from 192 countries are in Eugene, Oregon, to win medals, set records, and earn . Twenty-seven times over, yes, yes, and yes. Narrator: They also have a long list of expenses to train for their sport. Insuring the Olympics a $2.5 billion affair. In 2012, CNBC cited Italy as the country with the world's highest payout, offering its athletes $182,400 for each gold medal. If competitors have an audience of a few million followers, that's usually enough to attract advertisers' interest. Athletes who win gold receive 1 million ringgit ($236,149), while silver winners are awarded 300,000 ringgit, and 100,000 ringgit is given to athletes who win bronze. A handful of athletesmay score multimillion dollar endorsements or sponsorship deals, either before competing at the Olympics or after achieving success in the Games. Additionally, Olympians can receive an athletic grant or part-time job through the Olympic Job Opportunities Program. Payments to U.S. athletes in the Olympic and Paralympic Games are currently set at. Plus, there are also hefty costs associated with competing at this level. That said, those at the Phelps level have to send a good chunk of their payouts right back to Uncle Sam.) In 2017, the amount athletes earn for medals at the Olympics games was raised from $25,000 for gold, $15,000 for silver and $10,000 for bronze. The highest-paid athletes in the United States earn over $100 million annually. The rewards can even extend to the coaches and support staff of some delegations, such as South Korea. Still, many athletes aren't at the Simone Biles or Lindsey Vonn level of fameand that makes scraping together an income much harder. 2023 CNBC LLC. Additional lifetime monthly salary of 5,000, 3,000, and 2,000 ringgit for Gold, Silver, and Bronze, respectively. Monica: I would ref competitions here in New York City, but all of them were canceled, so I wasn't making money from that. The shooter competed in the 25-meter rapid fire pistol this year for a seriously impressive sixth Olympics. If youre competing for Team China, the government is moving away from cash prizes. These numbers are a hefty 50% increase from what American athletes earned at the 2016 Summer Games, per CNBC. The self-proclaimed "Shot Diva" just became the first American woman to win shot put at the Olympics, and set a new national record. Not a bad haul! Phil: That money could ensure that our US Olympic team are treated equally to the level of achievement or treated to a salary that is appropriate for them representing this country. Cheung Ka-long, a fencer, won gold in mens foil in Tokyo, earning 5 million Hong Kong dollars (about $642,000 at the current exchange rate) under the citys Henderson Land Commendation Scheme for Elite Athletes. And instead of a onetime jackpot, Malaysia, Estonia, and Indonesia promise their winning athletes decades of subsidies. Some other countries similarly offer pensions to medalists, including Croatia, which has had more success on the snow, with 11 medals in its Winter Olympic history. The Estonian fencers won the women's epee team final against South Korea on July 27. The United States pays a handsome fee per medal: $37,500 for each gold medal, $22,500 for each silver medal, and $15,000 for each bronze medal. Russia Is the Only Winner in the Kamila Valieva Mess, Its Time for USA Gymnastics to Take the Fall Its Been Avoiding, The 24 Craziest Stats From the Tokyo Olympics. So, they sold emwhich while totally understandable, feels a little like kicking a gift horse in the mouth.) Hungary's national Olympic committee is one of many that awards bonuses for medals at the Games. More often, these sponsorships are performance-based, meaning an athlete has to win a certain number of competitions. For athletes who win multiple Olympic gold medals, they entitled S$1 million only for the first individual gold medal won at the Games. China and Russia, two Olympic powerhouses, have reportedly paid medalists at past Games but were among the delegations that did not respond to requests for comment about their plans for Beijing. A professional athlete's median salary is about $35,004 per year, with a range that goes up to more than $5 million dollars. For example, tennis star Naomi Osaka reportedly made $55 million from endorsements in 12 months, and was named the highest-paid female athlete ever, according to reports. As only half of U.S. track athletes bring in more than $15,000 a year from their sport , Business Insider reports, there are other ways . Among the most generous nations is Turkey, which is willing to pay roughly $380,000 for a gold medal. Some U.S. athletes also receive stipends that help cover their rent and food, per CNBC. The 25th percentile is $29,500, as determined by Forbes. I own a business. Or steeplechase. How London laid the groundwork for sustainable sporting architecture, Filipino weightlifter Hidilyn Diaz the country's first Olympic gold medalist, Diaz will reportedly receive at least 33 million Philippine pesos, U.S. athletes also receive other forms of support, reportedly made $55 million from endorsements in 12 months, NFL replaces Pro Bowl with weeklong skills competitions and a flag football game, The mindset that helped a marathoner become one of the country's best in just 4 years: 'Working harder isn't necessarily better', Fanatics wants to be a $100 billion company here's how it plans to get there. But the moves haven't been sweeping enough. The sporting economy in the U.S. allows athletes to better monetize their talents as most of it is driven by the private sector, according to Unmish Parthasarathi, founder and executive director at consulting firm Picture Board Partners. . Athletes can sign personal sponsorship deals to earn money apart from winning medals. I didn't even have ways of making money for rent. Singapore offers the highest known payout for an individual gold medalist at 1 million Singapore dollars, plus rewards of 500,000 for silver medalists and 250,000 for bronze medalists. What do athletes get paid if they win a medal at the Olympics? This year, athletes will receive up to 142,288 (roughly $159,000) per gold in individual sports, and teams will receive up to 426,862 ($477,000) to divvy up. I started driving for DoorDash. This page was last edited on 7 February 2023, at 15:14. Balazs Erdelyi of Hungary during a water polo match against South Africa on July 29. Tiny Cyprus has competed at every Winter Olympics since 1980, with skier Yianno Kouyoumdjian set to race in Beijing. Another source of funding is prize money. As a result, some countries have instituted government-backed incentives for medal winners, to encourage greater participation and, in turn, the drive to win national bragging rights. Italy is an Olympic power, finishing seventh in total medal count at last years Tokyo Summer Games with 40 and 13th at the last Winter Games, in PyeongChang in 2018, with ten. Some of the Korean public wonder if too many athletes are gaining exemptionsskepticism that the Washington Post found was even more marked when the program was extended to specific finishes in the World Cup and other athletic events. UK Olympic medallists have . Following issues with corruption and cheating at the Olympics and Asian Games, the countrys General Administration of Sport promised to drop prizes to provincial governments for their local medalists wins, to curb the prevalence of both corruption and cheating. Lauryn: When sponsors and brands are looking at athletes, they're looking at marketability, the return on investment they're going to get. Athletes receive between $52,000 to $80,000. Something like a $250,000 earning turns into $125,000 really quick. Eko Yuli Irawan is the delegations best performer so far in Tokyo, having captured a silver in the mens 61-kilogram division of weightlifting. Prize money is doubled in the case a medal is won by a team of four or more individuals. The government of tiny Kosovo is paying 100,000 euros to gold medalists, 60,000 to silver medalists and 40,000 to bronze medalists, with two Olympic champions (judokas Nora Gjakova and Distria Krasniqi) in Tokyo already. The rewards actually trickle down below the podium spots, with Olympic athletes who finish seventh or eighth in their events still claiming 900,000 New Taiwan dollars ($32,000)almost as much as an American gold-medal winner. But Cheung, who had carried Hong Kongs flag during the opening ceremony, did his home territory proud, battling back from an early deficit against Garozzo to become Hong Kongs first Olympic champion in 25 years. Lauryn: The USOPC has something called Operation Gold. But most athletes rely on at least a few of these different income boosters: As you'd probably expect, athletes get a sizable check for winning an event in their sport. So if you earn a medal at the Olympic Games, there's prize money for the top three places there. Each member of a medal-winning team is eligible for the same amount as an individual athletegreat news for the Hungarian mens water polo team, a perennial gold-medal threat. Got a confidential news tip? If you're on the Burton team you're probably getting a salary and most expenses paid. Narrator: That's because unless they win a medal, Olympians don't get paid for competing at the games. The money, however, is taxable and the medal winner is obligated to make a donation back into the sport they are representing. These totals absolutely dwarf payments from Olympic committees like that of the United States. With of all this time designated to the Olympics, how do Olympic athletes make money? Athletes who win gold in the Beijing Olympics receive 50,000,000 Hungarian Forint, or roughly $161,000. Heres what winners around the world can take homealong with their gold, silver, or bronze. A gold medal is worth $37,500, a silver medal is worth $22,500 and a bronze medal is worth $15,000. S$1,000,000, S$500,000, S$250,000, for Gold, Silver, and Bronze, respectively. Some changes have been made to get more money in the hands of the athletes. But every athlete's contract is different. Moments of Olympic glory aren't just paybacks for years of hard work. In dollar terms, a Malaysian Olympic bronze winner will receive a higher performance reward than a gold winner from Australia or Canada. But scoring lucrative deals is rare, and hardlythe norm. I've been raised by a single mother since I'm 8 years old, so she definitely was funding everything when I was younger. Weightlifter Kuo Hsing-Chun of Taiwan (or Chinese Taipei) on July 27. However, if an athlete earns a medal, there is a medal bonus attached to it. Unlike countries such as the UK or Singapore, American Olympians don't get paid to attend the Olympics. Some, like U.S. badminton player Zhang Beiwen, reportedly relied on crowdsourcing to finance their trip to Tokyo. With very little options, he used the only skill that he learned to make some money: performing gymnastic stunts on the streets. Or those athletes in 1908 who competed in pistol dueling. A gold medal is worth $37,500, a. The Philippines clinched its first ever gold medal in Tokyo this week, making Filipino weightlifter Hidilyn Diaz the country's first Olympic gold medalist. .css-26w0xw{display:block;font-family:NationalBold,Helvetica,Arial,Sans-serif;font-weight:bold;margin-bottom:0;margin-top:0;-webkit-text-decoration:none;text-decoration:none;}@media (any-hover: hover){.css-26w0xw:hover{color:link-hover;}}@media(max-width: 48rem){.css-26w0xw{font-size:1.18581rem;line-height:1.2;margin-bottom:0.625rem;}}@media(min-width: 40.625rem){.css-26w0xw{line-height:1.2;}}@media(min-width: 48rem){.css-26w0xw{font-size:1.28598rem;line-height:1.2;margin-bottom:0rem;}}@media(min-width: 64rem){.css-26w0xw{font-size:1.575rem;line-height:1.1;margin-bottom:-0.5rem;}}Jenna Dewan Has Legs, Butt In Pole Dancing IG, Sharon Stone, 64, Flaunts Abs In String Bikini IG, Madelaine Petsch Frees The Nip With Epic Abs On IG, Kerry Washington Is So Toned In Naked Dress Photos, Simone Biles Has A Toned Butt In Bikini IG Pics, Riley Keough Flaunts Her Abs In A Crop Top On IG, Elizabeth Hurley Has A Toned Butt In A Bikini IG, Elsa Pataky Rocks Curly Hair And Epic Legs On IG, Halsey Has Sculpted Abs In Nipple-Baring Dress Pic, Madonna Has Legs In Fishnets In IG Pics, Christina Hendricks Flaunts Strong Legs In IG Pics, Gisele Bndchen Shared Her Yoga Moves In New IG. Making the podium isnt always the financialor gustatorywindfall you might expect, especially if you compete in a rather niche sport, like say, race walking. Some international leaders have taken the prizes to new levels. Olympic athletes do not get paid by just attending the Olympic Games. And gymnast Simone Biles no doubt makes a massive chunk of change from her deals with Uber Eats, Nike, Visa, and more. She has also been offered two homes and free flights for life, according to reports. Like Indonesia, the Malaysian government gives medalists both a one-time payment and a monthly allowance: an upfront check of roughly $237,000 for gold, $71,000 for silver or $24,000 for bronze plus roughly $1,200, $700 or $470 monthly. New! He's the fifth-highest-paid player in the NBA, but the New York Knicks athlete agreed to compete in Rio along with fellow multi-millionaires Kevin Durant, Kyrie Iving and Klay Thompson. Outside of the major sports, and those athletes that have high profiles, a lot of these athletes really struggle financially, Dr. Tim Baghurst, the head of the Interdisciplinary Center for Athletic Coaching at Florida State University, told WUSA9. Monica started one to fund her way to Tokyo. Weightlifter Hidilyn Diaz will benefit from this match, as she won the countrys first gold medal ever last weeka feat the country has chased since its first Olympic delegation attended the 1924 Paris Games. Answer (1 of 3): Zero. Olympic athletes train for years at a time, competing in various events ahead of the Winter Olympics. For example, speed skater Mitch Whitmore said he received a nine-month stipend that paid for his training and living expenses after finishing fourth in a 2017 competition. Disclosure: CNBC parent NBCUniversal owns NBC Sports and NBC Olympics. If there are any other additional costs not covered by the committee, athletes must look to their sponsors to cover the expenses. The country sent only 23 athletes to Tokyo. Ongoing uncertainty about letting Russian and Belarusian athletes try to qualify for the Paris Olympics affects "less than half" of the 32 sports at the games. [24], Incentives for Olympic medalists by country, Incentives by Country (USD equivalent in 2021), "Money for medals: Olympic glory can also be very lucrative for athletes from these countries", "Here's how much Olympic athletes earn for winning medals", "These 10 Countries Offer Six-Figure Payouts To Their Olympic Medalists", "Here's How Much Money Olympic Gold Medalists Win in Each Country", "How much money a Canadian Olympian earns versus the rest of the world | Offside", "Canadian Olympic Committee Athlete Excellence Fund (AEF)", "Fencers to receive 200,000 in prize money from Estonian Olympic Committee", "Hong Kong athletes chasing HK$5 million cash carrot for winning gold", "ASEAN nations offer huge rewards to Olympic medalists", "Kazakhstan to give prize money to athletes winning in Olympics", "Duterte adds P100,000 to Filipino Tokyo Olympians' game allowance", "Here's how much athletes around the world earn for Olympic victory", "Foxconn founder suggests Taiwan shower Olympic athletes with cash", "Thai stars kick off quest for Games glory", "Singapore medallists' reward scheme renamed Major Games Award Programme", "Olympic Heroes Honoured At The London 2012 Olympic Games Awards And Appreciation Dinner", "Why is government giving Hidilyn Diaz P10 million? By Caroline Picard Aug 16, 2016 Save Article New! [21] The programme's name was changed to Major Games Award Programme (MAP) in 2018. The Olympians were presented with their brand new set of wheels at a ceremony on Thursday, which was also attended by Prime Minister Dmitry Medvedev, Interfax . Narrator: That's because sponsorships don't just depend on the sport. Athletes can also pick up another $112,000 from the government for an Olympic-record performance. Must be nice to never have to load up your transit card again, although he could afford to after collecting his gold medal ransom. The table below shows some of the top pay rates for gold medals from different countries. Usain Bolt Celebrating at the Beijing Olympics. Some countries consider the medal bonuses taxable income while others make that money exempt. While the International Olympic Committee does not pay prize money to medalists, many countries offer monetary rewards to their athletes for the number of medals they win at the Olympics. The 19-year-old turned pro last year and has already earned $4 million in endorsement deals from Nike, Kellogg's, Hershey's and Procter & Gamble. A lot of them have part-time drop jobs and it's only in the Olympics where we really, really see them shine.. (Update, February 7: On top of that big prize, the Sports Federation & Olympic Committee of Hong Kong offers smaller rewards of its own, including the equivalent of $1,900 for gold.). He also fought Robert "The Ghost" Guerrero in 2013, earning at least $32M (guaranteed) for that fight, excluding pay-per-view fees. But is it worth being broke again? As long as the athlete's other earnings don't exceed $1 million, the medal . So if I can do that while I'm at one point working two jobs and DoorDash and everything like that, then I can't imagine what I can do if I didn't have to do that. Another source of income is through endorsement deals. Here are the 10 highest paid gymnasts. Most major companies are paying for travel, equipment, contest entry, etc. Narrator: Nailing a coveted sponsorship is hard. The financial strain is huge. (Ironically, most Olympians couldnt afford to own and maintain such cars. $10,000 - Olympic bronze medal. In some countries, athletes may make hundreds of thousands of extra dollars based on the medals they win. They've taught, modeled and engineered their way to Rio. Turns out, it varies. More than 600 U.S. athletes are competing at the Tokyo Olympics, and the United States has so far won 11 gold, 11 silver and 9 bronze. For athletes who win multiple Olympic gold medals, they entitled S$1 million only for the first individual gold medal won at the Games.[23]. You may opt-out by. A gold medal is worth $37,500, a silver medal is worth $22,500 and a bronze medal is worth $15,000. Clement's got a few more famous moves than the 400-meter hurdles. Athletes can get stipends directly from the US Olympic & Paralympic Committee or from the groups that run the Olympic sports teams, called the national governing bodies. What you stand to earn by grabbing medals: $20,000 - Olympic gold medal. In Beijing, Meinhardt became the youngest U.S. Olympic fencer of all time. Narrator: And those bonuses are only up for grabs every four years when the Olympics come around again. However, as stated by US Olympic rower Megan Musnicki, her total stipend amounts to a meagre $2000 a month and for athletes competing in less mainstream sports such as fencing it can often drop to as low as $300 a month. Thats no small perk in Denmark, which has one of the worlds highest tax rates but awards roughly $15,000 tax free for individual gold medals. So, the short answer is no, that Olympians don't normally pay for any expenses while competing at the Olympics. This allows those that receive funding to train full-time and also pays for the necessary support teams, facilities, and equipment. But her winnings didnt stop there. However, the Olympic Committee tends to pay for most of the expenses, such as food, accommodation and transportation. Aaron: If I got to get shoes every two to three months, that's $200, $300. Narrator: Many athletes have turned to crowdsourcing to supplement their incomes. It's the niche sports that really struggle the most. Narrator: The International Olympic Committee doesn't award athletes cash prizes for medals. HK$5,000,000, HK$2,500,000, HK$1,250,000, for Gold, Silver, and Bronze, respectively. Most Olympians, though, aren't multimillionaire athletes like Naomi Osaka, Rory McIlroy or Kevin Durant, so competing at this elite level can be a financial struggle. Moinca Aksamit: If you're not going to be able to afford it, and if you're not doing well, there's like six other people waiting in line just to have the opportunity. Lauryn: I've seen athletes get very upset because they've performed really well, better than their competitor even, but the competitor has a lot more sponsorship opportunity. The U.S. Olympic Committee pays $37,500 for a gold medal, $22,500 for a silver, and $15,000 for a bronze. 25 Collectibles That Could Be Worth Big Bucks. Beijing individual gold medalists are entitled to 3,049 BSB, or about $143,000 at the current level. Like the Philippines, Hong Kong also won its first ever gold medal during the 2020 Olympics, in dramatic fashionand the territory decided to break the bank to celebrate. mandatory military service following their training. The New York Times previously reported that Team USA . Per NBC, U.S. Olympic winners get $37,500 for winning gold, $22,500 for winning silver, and $15,000 for winning bronze. However, if an athlete earns a medal, there is a medal bonus attached to it. Parthasarathi pointed out that one profitable career move for someathletesis to go into coaching after retirement as people are willing to pay a premium for former Olympians. Sign up for free newsletters and get more CNBC delivered to your inbox. Malaysian gold medalists receive roughly $1,200 in monthly payments for life, Estonian winners receive 4,600 a year, and Indonesian champions get an $18,000-a-year retirement plan. Here are the top 5 prizes awarded by nations to their winning Olympic athletes Subscribe to NowThis: http://go.nowth.is/News_Subscribe Sign up for our n.

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