Olympians are some of the best and most-recognised athletes in the world, but they are not always compensated as well financially as some of their other sporting counterparts.
The Sporting News takes a closer look at what the Aussie stars will earn at Paris 2024.
MORE: Olympics schedule for Australian athletes
How much do Olympic athletes make? Salary, pay for Australians
Australian Olympic athletes do not receive salaries or retainers from the Australian Olympic Committee (AOC).
However, there is an annual AOC athlete incentive scheme, called 'Medal Incentive Funding'.
The system is "designed to incentivise the best athletes to stay in their sport and represent Australia at future Olympic Games".
Australia's medal payment breakdown can be viewed below.
In 2024, World Athletics will become the first international federation to hand out prize money at the Olympic Games. An AU$3.6 million prize pool will be used to reward gold medal winners in track and field events.
MORE: When are the next Olympics in Australia?
Depending on the sport, select athletes may also receive funding via private donors, such as Gina Rinehart's support of Swimming Australia.
On top of this, the Australian Institute of Sport (AIS) offers grants of up to AUD$17,500, per Business Insider. These are typically given to athletes with a strong chance of making the podium.
Other common channels of revenue for Olympians include prize money from national and international competitions, as well as sponsorship and brand deals.
For example, star swimmer Ariarne Titmus has a brand ambassador role with retail company Harvey Norman.
Each country has a different system when it comes to rewarding and funding its athletes.
Great Britain does not pay out any prize money to medallists. Instead, they offer varying financial support with the 'Athlete Performance Award', which pays athletes as if they were working a full-time job and allows them to focus on training
Olympic medal prize money: How much do Australians earn?
Under the AOC's 'Medal Incentive Funding' program, athletes receive a payment if they make the podium at an Olympic Games or an equivalent top level competition in non-Olympic years.
In Paris, gold medal winners will take home AUD$20,000, with silver and bronze medallists to receive AU$15,000 and AUD$10,000, respectively.
It has also been confirmed that Australia's Paralympic stars will be eligible for the exact same payments when they win medals.
| Medal | Payment (AUD) |
| Gold | $20,000 |
| Silver | $15,000 |
| Bronze | $10,000 |
Athletes are only eligible for one single payment.
The money does not accumulate if an individual wins more than one medal. If an athlete makes the podium multiple times, they will receive the compensation relevant to their best result.
For team sports, the payment will vary depending on the size of the team, and will come directly from the AOC, not the government.
Which country pays the most to Olympic gold medal winners?
Singapore topped the chart at the Tokyo Olympics when it came to medal payouts.
According to Forbes, they offered the largest financial incentive for gold medal winners – a generous SGD$1 million (AUD$1.12 million).
Chinese Taipei (AUD$1.09 million) and Hong Kong (AUD$968,000) follow behind.
