“My Financial Situation Isn’t Great.” 5 Olympians On The Cost Of Competition

Every four years, thousands of athletes from across the globe come together to compete in the Olympic Games. While some will become household names, the majority don’t reach the kind of fame that sets them up monetarily for life — in fact, a significant number struggle just to keep up with the costs of competing.

According to 2024 reporting by Al Jazeera, “more than a quarter of all US Olympians report making less than $15,000 annually in total income.” Meanwhile, the out-of-pocket expenses are numerous, including training, traveling for competitions, medical care, and everything else under the sun that helps these elite athletes stay elite athletes. Though total expenses vary greatly by sport and by individual, they can add up to thousands of dollars a year. Women athletes are especially burdened by the costs, thanks to the gender pay gap, and to top it off, women’s sports receive only 1% of the $66 billion global sports sponsorship market.

Training to be an Olympian is a full-time job but with no benefits, no paid time off and, of course, no salary. And while Team USA gives out nearly $2.5 million annually to athletes in the form of various performance grants and rewards, the organization is entirely privately funded: The U.S. is one of the very few countries that doesn’t provide federal funding to their Olympic athletes. 

Below, we spoke with five anonymous Olympians, past and present, across different sports — track and field, swimming, and others — about the real price of going for gold, and whether it’s all worth it.

Editors’ note: Interviews have been edited and condensed for clarity.