The Masters tournament purse has always been one of golf's biggest, and most secretive, annual topics. For 2024, the total prize money hit a record $20 million, with winner Scottie Scheffler taking home a staggering $3.6 million. This article will break down exactly how that money is decided upon, how it's paid out to the field, and the other priceless rewards that come with winning golf's most prestigious event.
Unlike most PGA Tour events that announce their prize money well in advance, Augusta National Golf Club keeps its cards very close to its iconic green jacket. The purse isn’t revealed until the tournament is already underway, typically during the weekend. The chairman of Augusta National makes the announcement, and it often creates a buzz just as big as a Sunday back-nine charge.
So, where does the money come from? It’s not an exact science from the outside looking in, because Augusta National is a private club and isn’t required to disclose its financials. However, we can connect the dots. The purse is a reflection of the tournament's incredible success, fueled by several major revenue streams:
The club reinvests a majority of this income back into the tournament, the course, and, you guessed it, the prize fund. As revenues have soared, so has the purse, climbing from respectable to astronomical over the decades.
While the winner's check gets all the headlines, every professional golfer who makes the cut at the Masters takes home a piece of the prize. Getting paid at Augusta is a career accomplishment. The tournament follows a model similar to standard PGA Tour events, but it has its own unique flavor.
To give you a real-world example, here's a look at the player payout for the top finishers at the 2024 Masters, based on the $20 million total purse:
The payouts continue like this all the way down the leaderboard. The 50th-place finisher still walked away with a respectable $50,400. Even the professional players who miss the cut receive $10,000 to help cover their expenses - a gesture of respect from the club.
Golf leaderboards are often filled with ties, and Augusta has a fair way to split the money. When players are tied, the prize money for those spots is added together and then divided equally among the tied players. For example, since three players tied for third place in 2024, the money for 3rd, 4th, and 5th was combined and divided by three. This ensures a fair and transparent distribution for everyone who played well.
The Masters has a rich history of celebrating amateur golf, famously co-founded by the legendary amateur Bobby Jones. Multiple amateurs are invited to compete each year, and if they make the cut, they stand side-by-side with the pros on the leaderboard. However, due to the rules of amateur status, they cannot accept any prize money. Their reward is the experience, the honor, and, for the low amateur who completes all 72 holes, the much-coveted Silver Cup.
Seeing today’s massive purse in its proper context requires a trip back in time. The financial prize at the Masters has mirrored the growth of professional golf itself.
The money is life-changing, but what makes a Masters victory legendary are the prizes that have no price tag. Here’s what the champion receives beyond the hefty bank transfer:
It's the most iconic prize in golf. The green jacket symbolizes victory and inclusion into one of the world's most exclusive clubs. The winner receives his jacket inside Butler Cabin just after the final putt drops and is then presented with it again in a public ceremony. He can take it home for one year, but afterward, it must remain at Augusta National in the Champions Locker Room, ready for him whenever he returns.
An often-overlooked but stunning prize, the Masters Trophy is a sterling silver replica of the Augusta National clubhouse. The permanent trophy remains at the club, but the winner receives a full-size sterling replica to keep.
This may be the greatest prize of all. The a Masters champion never has to worry about qualifying again. They have an invitation waiting for them every single year for the rest of their life. This is why you see legends like Fred Couples, Tom Watson, and Vijay Singh teeing it up long past their competitive peaks - it’s an honor they’ve earned for life.
A Masters win is a golden ticket to the rest of the golf world. The victory includes:
The Masters purse is far more than just a dollar amount, it's a reflection of the tournament's history, prestige, and quiet power in the world of golf. From its humble beginnings to today's record-breaking sums, the prize money at Augusta is a testament to the event's unmatched success, with a payout structure that rewards every professional who makes the weekend.
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