The winner of the 2024 Masters Tournament took home a staggering $3.6 million, but that's just the tip of the iceberg of a total $20 million prize purse. This article breaks down exactly how that money is distributed, from the life-changing sum awarded to the champion to the respectable checks earned by every player who makes the cut. We'll also look at how these payouts have evolved and how they stack up against golf's other major championships.
Unlike other tournaments that have television contracts and title sponsors dictating their prize money, the Masters purse is determined solely by Augusta National Golf Club. Each year, the club's board reviews and decides on the total amount, traditionally announcing it during the week of the tournament. This secrecy adds another layer to the mystique of the event.
What isn't a secret is the purse's dramatic growth. For 2024, the total purse was a record $20 million. This marked a significant increase from the $18 million offered in 2023 and the $15 million from 2022. This upward trend cements the Masters as one of the most lucrative prizes in professional golf, a far cry from the humble beginnings of the tournament.
This hefty sum of money isn't just about the prize, it's a statement. It reflects Augusta National's commitment to rewarding the best players in the world for conquering one of golf's most demanding tests.
The champion's share of the purse is the biggest story of the weekend, second only to the final putt dropping on Sunday. The winner receives 18% of the total purse. In 2024, that amounted to a massive $3.6 million for Scottie Scheffler.
While the focus is on the winner, finishing in the top 10 at Augusta is a career-defining achievement and a massive payday. Here’s a look at how the top of leaderboard was paid out from the $20 million purse in 2024:
As you can see, a strong finish, even without putting on the Green Jacket, means receiving a seven-figure check for the top three competitors.
From a golf perspective, the rewards for winning the Masters go far beyond the direct deposit. The champion receives a set of prizes that offer security, prestige, and a permanent place in golf history:
In golf, you get paid based on your performance. It's not a team sport with guaranteed contracts. At the Masters, every single professional player who makes the weekend cut earns a piece of the purse.
Merely qualifying to play on Saturday and Sunday at Augusta is a financial success. The prize money decreases down the leaderboard, but even the player finishing in 50th place receives a handsome check. For instance, in 2024, the prize money for 50th place was still a substantial $49,200.
This payout structure recognizes the incredible difficulty of just making the weekend at a major, especially on a course as demanding as Augusta National.
Ties are inevitable in a 72-hole golf tournament. When two or more players tie for a position, the prize money for those positions is added together and divided equally among them.
Let's use a simple example. Say two players tie for 3rd place. The prize money for 3rd place ($1,360,000 in 2024) and 4th place ($960,000) would be combined:
$1,360,000 + $960,000 = $2,320,000
That total is then split between the two players:
$2,320,000 / 2 = $1,160,000 per player
In 2024, Collin Morikawa, Max Homa, and Ludvig Åberg all tied for 2nd place. No player finished in outright 3rd or 4th position. Therefore, the prize money for 2nd, 3rd, and 4th place was combined and split among the three of them, earning each player an enormous $1,040,000 check.
Yes, in a gesture of class that is typical of Augusta National, even the professional golfers whoplay two rounds but miss the cut receive some compensation. Each professional who doesn't make the weekend is given a stipend of $10,000. This helps offset the significant expenses - travel, accommodations, caddie fees - involved in competing in the tournament. Amateurs, per USGA and R&A rules, cannot accept prize money.
The $3.6 million winner's check of today stands in stark contrast to the tournament's past. When the first Augusta National Invitation Tournament (the original name for the masters) was held in 1934, winner Horton Smith earned just $1,500. The prize money has grown alongside the tournament's reputation.
This dramatic climb doesn't just reflect inflation, it shows how the Masters has become a premier global sporting event, with the prize money evolving to match its status.
How does Augusta National's $20 million purse stack up against golf's other signature events? For a long time, the Masters offered a smaller purse than the other majors but came with unparalleled prestige. That has changed in recent years.
While The Players Championship and U.S. Open currently offer slightly more money, the Masters purse is fully in the conversation with the largest in the sport, making it both a historical and incredibly lucrative title to win.
The Masters payout structure is a perfect reflection of the tournament itself: prestigious, rewarding, and steeped in tradition. From the champion's life-altering check and Green Jacket to the meaningful compensation for every professional who competes, the prize money breakdown demonstrates a deep respect for the players and the game.
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