Masters Increases Purse to $20 Million, With $3.6 Million to Winner

Purses have been on the rise in recent years and the Masters now pays out more than twice as much as a decade ago.
Apr 13, 2024; Augusta, Georgia, USA; Patrons stand along no. 1 during the third round of the Masters
Apr 13, 2024; Augusta, Georgia, USA; Patrons stand along no. 1 during the third round of the Masters / Adam Cairns-USA TODAY Network

AUGUSTA, Ga. – The Masters announced Saturday an increase in prize money for this year’s tournament to $20 million, up from $18 million a year ago and in line with the eight signature events and first two playoff events on the PGA Tour.

It also matches what the U.S. Open paid last year at Los Angeles Country Club.

The PGA Championship last year offered $17.5 million while the British Open was $16.5 million.

The Masters typically downplays the monetary rewards but is increasing the payout to the winner to $3.6 million from the $3.24 million paid to Jon Rahm in 2023. The 50th place finisher is slated to get $50,400. Those who missed the cut are paid $10,000, which is unofficial in PGA Tour earnings.

The Masters purse has doubled in 10 years. When Bubba Watson won in 2014, the total payout was just over $9 million, with Watson getting $1.62 million.

For comparison, in the entirety of his career, Jack Nicklaus made just more than $720,000 in Masters prize money. He made the cut in a record 37 Masters and won the tournament six times.

Both Tiger Woods and Phil Mickelson each have more than $9 million in Masters earnings.

Bob Harig


Bob Harig is a senior golf writer for Sports Illustrated. He has more than 25 years experience covering golf, including 15 at ESPN. Bob is a regular guest on Sirius XM PGA Tour Radio and has written two books, DRIVE: The Lasting Legacy of Tiger Woods and Tiger and Phil: Golf's Most Fascinating Rivalry. He graduated from Indiana University where he earned an Evans Scholarship, named in honor of the great amateur golfer Charles (Chick) Evans Jr. Bob, a former president of the Golf Writers Association of America, lives in Clearwater, Florida.