Masters 2024 Prize Money Pegged at $20M, up $2M From Prior Year

The Masters does things differently than any other major golf tournament, from the cheap concessions to the $0 TV deal. Another example: Golfers don’t know what the payouts will be until after the tournament starts.

The Masters announced on Saturday after the cut was made, as is its tradition, on what the prize money would be for the event. Golfers will receive a record $20 million, up from $18 million last year. First place will earn $3.6 million, with second due $2.16 million and third to receive $1.36 million.

The rest of the field will earn less than $1 million, with $50,000 the payout for 50th place. The Masters is the rare tourney that compensates players who miss the cut. Each of those golfers will receive $10,000 for two days of work.

The winner’s share is up $360,000 over 2023 when Jon Rahm captured the green jacket.

The total payout is up from $15 million in 2022 and $11.5 million the year before that. The $20 million purse matches that of the PGA Tour’s elevated events, as well as those for the typical LIV Golf tournament. The PGA’s most lucrative event, excluding the FedEx Cup bonuses at year-end, is the Players Championship which paid $25 million in March, including $4.5 million for winner Scottie Scheffler.

The top earner all-time at Augusta National is Phil Mickelson, who has won $9.8 million, along with his three Masters titles. Next up is Tiger Woods ($9.6 million), Jordan Spieth ($6 million), Jon Rahm ($5 million) and Dustin Johnson ($4.6 million).

Scheffler, who started Sunday with the lead, has made a total of $3.4 million in his four prior Masters appearances.