Medals and Money: What Olympics Winners Stand to Gain at Paris 2024

The Olympics is back with its 128-year-old tradition of bringing sports and nations together. The Summer Games, being hosted in Paris from July 26 to August 11, will attract sports-watchers from across the globe.

India got off to a victorious start in the first week when Manu Bhaker became the first Indian female shooter to win a medal at the Summer Olympics. Bhaker won a bronze medal in the women's 10m air pistol event which was followed up by another bronze in the 10m air pistol team event.

After winning her first medal, Bhaker said, “I put in a lot of effort. This is a bronze but I’m happy I could win a bronze for the country.” As the billion-strong Indian population lauds Bhaker for her achievements, people are also curious to know what Olympics winners get other than medals.

At the victory ceremony, the victorious Manu Bhaker-Sarabjot Singh duo was also handed a gift box that contained the official poster of the Paris Olympics 2024, designed by a Paris-based illustrator Ugo Gattoni.

Beyond Medals

Other than bagging medals and bringing pride to their nations, Olympic winners also stand to gain monetary benefits from various bodies.

When Manu Bhaker returns to India, she will receive a cash award of Rs 30 lakh the bronze medal achievement at Paris 2024. The sum is awarded by the Ministry of Youth Affairs and Sports under its scheme ‘Special Awards to Medal Winners in International Sports Events and their Coaches’.

Similarly, the cash award for the silver medal holder is Rs 50 lakh and for the gold medal, it is Rs 75 lakh.

At the Tokyo Olympics held in 2020, Neeraj Chopra had scripted history as the first Indian to win a gold medal at a track and field event in the Olympics. The champion javelin thrower became an overnight national hero and received cash prizes, and other benefits from several bodies upon his return.

For example, the Board of Control for Cricket in India (BCCI) awarded him a cash prize worth Rs 1 crore and IndiGo congratulated him with unlimited free travel for a year. Chopra won several brand endorsements as well in the subsequent period.

It is also not uncommon to see state governments reward their sports stars with government jobs after they taste success at international events. For example, when PV Sindhu bagged the silver medal in the 2016 Rio Olympics, the Andhra Pradesh government offered her appointment as a deputy collector.

Similarly, the Haryana government offered a government job to Bajrang Punia and a 50 per cent concession on land after he won a bronze medal at the Tokyo Olympics 2020.

What Other Countries Pay

The government of the United States pays $37,500 for gold, $22,500 for silver, and $15,000 for bronze for American medal winners.

Similarly, Singapore offers the Olympic winners a six-figure cash award.

A sum of around $400-$1,100 every month as a lifetime pension is awarded to Malaysian Olympic winners.

Apart from countries awarding their nationals winning at the Olympics. The World Athletics Organisation has announced a prize money of $50,000 to each gold medalist in the 48 athletics events.