What Is the Masters Purse Payout?
The Masters Tournament, held each April at Augusta National Golf Club, awards a multi‑million‑dollar purse to its 92‑player field. The payout refers to the way this total prize money is divided among players based on their final leaderboard position, with the winner receiving the largest share and lower‑finishers earning progressively smaller amounts.
- What Is the Masters Purse Payout?
- Current Total Purse and Winner's Share (2024)
- How the Payout Structure Works
- Key Points of the Distribution Formula
- Historical Evolution of the Masters Purse
- Recent Purse Payouts (2020‑2024)
- Breakdown of Payout by Position (2024 Example)
- Factors That Influence Payout Amounts
- Comparison With Other Majors
- How Players Use Their Masters Earnings
- Frequently Asked Questions
- Does the Masters purse increase every year?
- What happens if a player ties for a position?
- Is there a minimum payout for making the cut?
Current Total Purse and Winner's Share (2024)
For the 2024 Masters, the total purse was US$ 15 million. The champion earned US$ 2.7 million, representing 18% of the entire pool. This figure has risen steadily since the tournament's modest beginnings in the 1930s.
How the Payout Structure Works
The payout follows a predefined schedule set by the Masters Committee. After the winner's share, each subsequent position receives a fixed percentage of the remaining purse. The schedule is designed to reward top‑finishers while still providing a meaningful payday for players who make the cut.
Key Points of the Distribution Formula
- Only players who make the cut (typically the top 50 + ties) receive prize money.
- The winner's share is a fixed 18% of the total purse.
- Positions 2‑5 receive between 10% and 12% each, decreasing incrementally.
- From 6th place onward, payouts decline by roughly 0.5% per position until the last paid spot.
Historical Evolution of the Masters Purse
The Masters began with a modest $40,000 total purse in 1934. Over the decades, the amount grew in line with television contracts, sponsorships, and the sport's global popularity. Notable milestones include:
- 1970: First purse to exceed $200,000.
- 1990: Total purse reached $1 million.
- 2005: First $10 million purse.
- 2020: $11.5 million total (adjusted for pandemic‑related schedule changes).
Recent Purse Payouts (2020‑2024)
| Year | Total Purse | Winner's Share | 10th Place | Last Paid Spot |
|---|---|---|---|---|
| 2020 | $11.5 M | $2.07 M | $176,500 | $15,000 |
| 2021 | $12.5 M | $2.25 M | $190,000 | $16,500 |
| 2022 | $13.5 M | $2.43 M | $204,000 | $18,000 |
| 2023 | $14.5 M | $2.61 M | $218,500 | $19,500 |
| 2024 | $15.0 M | $2.70 M | $225,000 | $20,000 |
Breakdown of Payout by Position (2024 Example)
Below is a snapshot of the 2024 payout schedule for the top 15 finishers. Percentages are rounded to two decimal places.
| Position | Prize Money (USD) | Percentage of Total Purse |
|---|---|---|
| 1 (Winner) | 2,700,000 | 18.00% |
| 2 | 1,620,000 | 10.80% |
| 3 | 1,260,000 | 8.40% |
| 4 | 1,080,000 | 7.20% |
| 5 | 960,000 | 6.40% |
| 6 | 840,000 | 5.60% |
| 7 | 750,000 | 5.00% |
| 8 | 660,000 | 4.40% |
| 9 | 585,000 | 3.90% |
| 10 | 525,000 | 3.50% |
| 11‑15 (average) | 450,000‑390,000 | 3.00%‑2.60% |
Factors That Influence Payout Amounts
While the schedule is fixed, several variables affect the actual money a player receives:
- Making the Cut: Players who miss the cut earn no prize money.
- Ties: If multiple players share a position, the prize for those spots is averaged and split equally.
- Special Awards: The Masters also offers bonuses such as the "Low Amateur" prize ($10,000) and "Par 3 Contest" winner ($10,000), which are separate from the main purse.
Comparison With Other Majors
Compared to the PGA Championship, U.S. Open, and The Open Championship, the Masters traditionally offers a slightly smaller total purse but a higher winner's percentage. This reflects Augusta National's emphasis on prestige over sheer financial scale.
- PGA Championship (2024): $15.5 M total, winner $2.79 M (18%).
- U.S. Open (2024): $15.0 M total, winner $2.70 M (18%).
- The Open (2024): $14.5 M total, winner $2.61 M (18%).
How Players Use Their Masters Earnings
Beyond the immediate cash, Masters earnings impact a player's career in several ways:
- World Ranking Points: Prize money correlates with ranking points, affecting qualification for future majors.
- Sponsorship Leverage: A high finish boosts a player's marketability, leading to endorsement deals.
- Tax Considerations: Players must account for U.S. federal, state (Georgia), and international taxes, often reducing net take‑home pay by 30‑45%.
Frequently Asked Questions
Does the Masters purse increase every year?
Historically, the total purse has risen most years, driven by TV rights and sponsorships. However, increases are not guaranteed; economic downturns can pause growth.
What happens if a player ties for a position?
The prize money for the tied positions is added together and divided equally among the players.
Is there a minimum payout for making the cut?
Yes. The last paid spot (typically 50th place plus ties) receives a modest amount—about $20,000 in 2024—ensuring all players who make the cut earn something.