Masters prize money: How the purse and winner’s share has evolved over the years
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The Masters prize purse and winner’s payout have changed a lot over the years. We look at The Masters prize money year-by-year.
Winning the Masters has long been one of the most coveted achievements in this great game. However, the prize hasn’t always been as lucrative as it is in 2024. Augusta National opened its gates for the first Masters to be played there in 1934, and every year since (barring 1943-1945) the best golfers in the world have ventured down Magnolia Lane in the hope of being crowned the Masters Champion.
The Masters hasn’t always been as glamorous and rich in history and tradition as the tournament we know and love today. When Horton Smith won the first playing of the Masters in 1934, he was awarded $1,500, a sizeable portion of the $5,000 purse. This was the same first prize for all the Masters Champions until 1942 – before the event was canceled from 1943-1945 due to WWII.
All winners from 1934-1948 were paid handsomely compared to other events on the PGA Tour, but they weren’t awarded a Green Jacket. The first Masters Champion to receive one of the now famous Green Jackets was Sam Snead when he won his first Masters in 1949. As well as being honored with a Green Jacket, which had previously been reserved only for Augusta National members since 1937, Snead received a cheque for $2,750 – first place’s share of the $11,000 purse.
The purse surpassed the $100,000 mark for the first time at the 1961 Masters tournament, the first of three Masters victories for South Africa’s Gary Player. That year Player was the recipient of $20,000, this remained the winning payout for the following eight years, despite the fluctuating purse.
The first Masters Champion to be paid out more than $100,000 for their victorious performance around Augusta National was Ben Crenshaw in 1984. By 1984, the purse had increased to $612,900. Only four years later, in 1988, were the players fighting it out for the largest cut of the first-ever $1,000,000 purse at the Masters. That year, it was Scotland’s Sandy Lyle who emerged victorious and earned $183,800.
Mark O’Meara was the first Masters Champion to win over half a million dollars for his success in 1998, taking home $576,000. It only took three years after 1998 before the winner of the Masters was awarded over one million dollars, a certain Tiger Woods was the first recipient of a seven-figure payout at Augusta National – $1,008,000.
In 2015, the purse reached $10,000,000. Masters Champion of 2015, Jordan Spieth earned himself an 18% cut of that purse ($1,800,000). Following possibly one of the greatest comebacks in sporting history (definitely one of the best Sundays at the Masters we’ve ever been treated to), Tiger Woods clinched his fifth Masters victory, for which he earned the first multi-million payout, taking home $2,070,000.
When Jon Rahm won the Masters in 2023, he became the first Masters Champion to receive a cheque north of three million dollars, this was helped by the fact that the purse had risen to $18,000,000. In total, the Spaniard was awarded $3,240,000 – $35,000 more than the other three Spanish winners of the Masters have received combined.
Despite winning the Masters six times, Jack Nicklaus only received $269,000 for all of those victories. That’s $1,000 less than the amount won by Fred Couples in 1992, who’ll be competing once again this year. The entire field will be dreaming of slipping into the Green Jacket on Sunday and cashing in that winner’s cheque – but only one person will prevail.
While the money is a massive bonus for winning the Masters, there is so much more at stake, take a look at everything the Masters Champion wins. All of the champions listed below have realized how life-changing being victorious around Augusta National is – who’ll etch their name into history in 2024 and make their way back down Magnolia Lane with a Green Jacket?
| Year | Masters Champion | Prize Money | Purse |
| 2024 | Scottie Scheffler | $3,600,000 | $20,000,000 |
| 2023 | Jon Rahm | $3,240,000 | $18,000,000 |
| 2022 | Scottie Scheffler | $2,700,000 | $15,000,000 |
| 2021 | Hideki Matsuyama | $2,070,000 | $11,500,000 |
| 2020 | Dustin Johnson | $2,070,000 | $11,500,000 |
| 2019 | Tiger Woods | $2,070,000 | $11,500,000 |
| 2018 | Patrick Reed | $1,980,000 | $11,000,000 |
| 2017 | Sergio Garcia | $1,980,000 | $11,000,000 |
| 2016 | Danny Willett | $1,800,000 | $10,000,000 |
| 2015 | Jordan Spieth | $1,800,000 | $10,000,000 |
| 2014 | Bubba Watson | $1,620,000 | $9,000,000 |
| 2013 | Adam Scott | $1,440,000 | $8,000,000 |
| 2012 | Bubba Watson | $1,440,000 | $8,000,000 |
| 2011 | Charl Schwartzel | $1,440,000 | $8,000,000 |
| 2010 | Phil Mickelson | $1,350,000 | $7,500,000 |
| 2009 | Angel Cabrera | $1,350,000 | $7,500,000 |
| 2008 | Trevor Immelman | $1,350,000 | $7,500,000 |
| 2007 | Zach Johnson | $1,305,000 | $7,418,464 |
| 2006 | Phil Mickelson | $1,260,000 | $7,000,000 |
| 2005 | Tiger Woods | $1,260,000 | $7,000,000 |
| 2004 | Phil Mickelson | $1,117,000 | $6,000,000 |
| 2003 | Mike Weir | $1,080,000 | $6,000,000 |
| 2002 | Tiger Woods | $1,008,000 | $5,600,000 |
| 2001 | Tiger Woods | $1,008,000 | $5,600,000 |
| 2000 | Vijay Singh | $828,000 | $4,600,000 |
| 1999 | Jose Maria Olazabal | $720,000 | $4,000,000 |
| 1998 | Mark O’Meara | $576,000 | $3,200,000 |
| 1997 | Tiger Woods | $486,000 | $2,700,000 |
| 1996 | Nick Faldo | $450,000 | $2,500,000 |
| 1995 | Ben Crenshaw | $396,000 | $2,200,000 |
| 1994 | Jose Maria Olazabal | $360,000 | $2,000,000 |
| 1993 | Bernhard Langer | $306,000 | $1,700,000 |
| 1992 | Fred Couples | $270,000 | $1,500,000 |
| 1991 | Ian Woosnam | $243,000 | $1,350,000 |
| 1990 | Nick Faldo | $225,000 | $1,250,000 |
| 1989 | Nick Faldo | $200,000 | $1,000,000 |
| 1988 | Sandy Lyle | $183,800 | $1,000,000 |
| 1987 | Larry Mize | $162,000 | $867,100 |
| 1986 | Jack Nicklaus | $144,000 | $785,000 |
| 1985 | Bernhard Langer | $126,000 | $700,793 |
| 1984 | Ben Crenshaw | $108,000 | $612,900 |
| 1983 | Seve Ballesteros | $90,000 | $500,000 |
| 1982 | Craig Stadler | $64,000 | $367,152 |
| 1981 | Tom Watson | $60,000 | $362,587 |
| 1980 | Seve Ballesteros | $55,000 | $359,949 |
| 1979 | Fuzzy Zoeller | $50,000 | $299,625 |
| 1978 | Gary Player | $45,000 | $262,402 |
| 1977 | Tom Watson | $40,000 | $280,477 |
| 1976 | Raymond Floyd | $40,000 | $200,000 |
| 1975 | Jack Nicklaus | $40,000 | $242,750 |
| 1974 | Gary Player | $35,000 | $229,549 |
| 1973 | Tommy Aaron | $30,000 | $224,825 |
| 1972 | Jack Nicklaus | $25,000 | $204,649 |
| 1971 | Charles Coody | $25,000 | $125,000 |
| 1970 | Billy Casper | $25,000 | $125,000 |
| 1969 | George Archer | $20,000 | $100,000 |
| 1968 | Bob Goalby | $20,000 | $100,000 |
| 1967 | Gay Brewer | $20,000 | $165,000 |
| 1966 | Jack Nicklaus | $20,000 | $100,000 |
| 1965 | Jack Nicklaus | $20,000 | $100,000 |
| 1964 | Arnold Palmer | $20,000 | $130,000 |
| 1963 | Jack Nicklaus | $20,000 | $112,500 |
| 1962 | Arnold Palmer | $20,000 | $110,000 |
| 1961 | Gary Player | $20,000 | $110,000 |
| 1960 | Arnold Palmer | $17,500 | $87,000 |
| 1959 | Art Wall Jr. | $15,000 | $75,000 |
| 1958 | Arnold Palmer | $11,250 | $60,000 |
| 1957 | Doug Ford | $8,750 | $45,000 |
| 1956 | Jack Burke Jr. | $6,000 | $30,000 |
| 1955 | Carry Middlecoff | $5,000 | $25,000 |
| 1954 | Sam Snead | $5,000 | $25,000 |
| 1953 | Ben Hogan | $4,000 | $20,000 |
| 1952 | Sam Snead | $4,000 | $20,000 |
| 1951 | Ben Hogan | $3,000 | $15,000 |
| 1950 | Jimmy Demaret | $2,400 | $12,000 |
| 1949 | Sam Snead | $2,750 | $11,000 |
| 1948 | Claude Harmon | $2,500 | $10,000 |
| 1947 | Jimmy Demaret | $2,500 | $10,000 |
| 1946 | Herman Keiser | $2,500 | $10,000 |
| 1942 | Byron Nelson | $1,500 | $5,000 |
| 1941 | Craig Wood | $1,500 | $5,000 |
| 1940 | Jimmy Demaret | $1,500 | $5,000 |
| 1939 | Ralph Guldahl | $1,500 | $5,000 |
| 1938 | Henry Picard | $1,500 | $5,000 |
| 1937 | Byron Nelson | $1,500 | $5,000 |
| 1936 | Horton Smith | $1,500 | $5,000 |
| 1935 | Gene Sarazen | $1,500 | $5,000 |
| 1934 | Horton Smith | $1,500 | $5,000 |
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About the author
James Hogg – Golf Equipment Writer
James has a degree in English Language from Newcastle University and an MA in Journalism from Kingston University.
He spent seven years working for American Golf as part of the sales and fitting team alongside his studies and is a specialist in putters, golf balls, and apparel.
James took up golf as a teenager and, thanks largely to his length and consistency off the tee, he plays off a handicap of 4.7 at Cleveland Golf Club.
You can contact James via email for loads more golf equipment insight.
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Masters prize money: How the purse and winner's share has evolved over the years
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Ben Crenshaw became the first Masters Champion to earn over $100,000 for his victory
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Jack Nicklaus is the proud owner of six Green Jackets but for his victories around Augusta National he's only received $269,000
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Sam Snead was the first Masters Champion to receive a Green Jacket in 1949
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After his Masters victory in 2001, Tiger Woods became the first champion to be awarded more than $1,000,000 for his efforts
