AUGUSTA, Ga. — Unlike the weekly professional tour stops, major championships aren’t a job. The best golfers in the world don’t tee it up at the four marquee events for the prize money payouts, but the trophies and high finishes often come with a considerable cash bonus.
Over the years at the Masters, dating back to the first-ever tournament in 1934, the green jackets at Augusta National Golf Club have offered lucrative cash prizes that have steadily increased as time passes by. Across the 88 tournaments, there have been 53 increases in the winner’s share, including at this year’s Masters. Whoever dons the green jacket in 2024 will take home a cool $3.6 million, up from the $3.24 million Jon Rahm banked last year.
From $1,500 to $3.6 million, here’s how first-place prize money payouts have increased over the years at the Masters.
Bobby Jones putts on the 8th green while Horton Smith watches in front of a gallery of patrons during the 1934 Masters Tournament at Augusta National Golf Club held March 22-25 in Augusta, Georgia. (Photo by Augusta National/Getty Images)
The first Masters, known as the Augusta National Invitation Tournament for the first five editions, featured a $1,500 winner’s share and a $5,000 purse.
From Left To Right: Ben Hogan, Herman Keiser And Bobby Jones At The Presentation Ceremony Of The 1946 Masters Tournament (Photo by Augusta National/Getty Images)
From 1934-1946 the winner’s share was $1,500 before the first increase came in 1946 when the tournament returned from a two-year hiatus due to World War II.
Bobby Jones (right) presents the silver cup trophy to Billy Joe Patton, the low amateur in the 1954 Masters Tournament at Augusta National Golf Club. Patton, who died Jan. 1 at age 88, finished one stroke out of a playoff between Ben Hogan (second from left) and champion Sam Snead (background).
It took nearly 10 years for the winner’s share to double and reach the $5,000 mark in 1954, where the purse was $25,000.
Arnold Palmer, left, and Sam Snead rehash their third round play in the Masters Golf Tournament at the Augusta National Golf Club in August, Ga., April 5, 1958. Palmer and Snead wound up in a tie for the lead with a 54 hole total of 211.
Just four years later the winner’s share eclipsed $10,000 for the first time.
Fuzzy Zoeller puts on the green jacket after winning the 1979 Masters with Arnold Palmer and Gary Player looking on. (Photo: Augusta Chronicle)
The next major milestone came just south of 20 years later when the winner’s share reached $50,000.
1983 Masters Champion Seve Ballesteros shakes hands with 1984 Masters Champion Ben Crenshaw at the Presentation Ceremony during the 1984 Masters Tournament at Augusta National Golf Club in April 15th, 1984 in Augusta, Georgia. (Photo by Augusta National/Getty Images)
In five years the winner’s share more than doubled to surpass the six-figure mark for the first time.
Nick Faldo won the 1989 Masters in a playoff over Scott Hoch.
Another five years, another milestone as Nick Faldo banked $200,000 for his first of consecutive wins in 1989.
Mark O’Meara of the US (R), the 1998 Masters Champion, points out part of the course to 1997 Masters Champion Tiger Woods (L) as they walk down the fifth fairway 03 April 2000 during the first practice round for the 2000 Masters Golf Tournament at Augusta National Golf Club in Augusta, GA. The tournament will start on 06 April 2000. (ELECTRONIC IMAGE) AFP PHOTO/JEFF HAYNES (Photo credit should read JEFF HAYNES/AFP via Getty Images)
In 1993 the winner’s share reached $306,000 and increased to $450,000 in 1996 before passing the $500,000 mark two years later in 1998 when Mark O’Meara won.
Vijay Singh helps Tiger Woods into his green jacket after Tiger won the 2001 Masters at the Augusta National Golf Club. (Photo: Eileen Blass/USA TODAY)
Tiger Woods was the first million-dollar winner in 2001 when the winner’s share eclipsed the seven-figure mark. The total purse for the week was $5.6 million.
Tiger Woods celebrates with the green jacket after winning the 2019 Masters at Augusta National Golf Club.
Getty Images
It took 18 years until the first place reached the $2 million mark when, once again, Tiger Woods emerged victorious.
Scottie Scheffler sits beside Jon Rahm at the green jacket ceremony as Augusta National Golf Club Chairman Fred Ridley speaks after the final round of The Masters golf tournament. Mandatory Credit: Danielle Parhizkaran-USA TODAY Network
A new benchmark was set in 2023 when Jon Rahm took home $3.24 million. The total purse rose to $18 million, but both would be short-lived.
The pin flag on the No. 2 green waves in the wind during the first round of the Masters Tournament. (Photo: Adam Cairns-USA TODAY Network)
In 2024, it’s a record winner’s share of $3.6 million and record total purse of $20 million.
| Year | Winner’s share |
| 2024 | $3,600,000 |
| 2023 | $3,240,000 |
| 2022 | $2,700,000 |
| 2021 | $2,070,000 |
| 2020 | $2,070,000 |
| 2019 | $2,070,000 |
| 2018 | $1,980,000 |
| 2017 | $1,980,000 |
| 2016 | $1,800,000 |
| 2015 | $1,800,000 |
| 2014 | $1,620,000 |
| 2013 | $1,440,000 |
| 2012 | $1,440,000 |
| 2011 | $1,440,000 |
| 2010 | $1,350,000 |
| 2009 | $1,350,000 |
| 2008 | $1,350,000 |
| 2007 | $1,305,000 |
| 2006 | $1,260,000 |
| 2005 | $1,260,000 |
| 2004 | $1,117,000 |
| 2003 | $1,080,000 |
| 2002 | $1,008,000 |
| 2001 | $1,008,000 |
| 2000 | $828,000 |
| 1999 | $720,000 |
| 1998 | $576,000 |
| 1997 | $486,000 |
| 1996 | $450,000 |
| 1995 | $396,000 |
| 1994 | $360,000 |
| 1993 | $306,000 |
| 1992 | $270,000 |
| 1991 | $243,000 |
| 1990 | $225,000 |
| 1989 | $200,000 |
| 1988 | $183,800 |
| 1987 | $162,000 |
| 1986 | $144,000 |
| 1985 | $126,000 |
| 1984 | $108,000 |
| 1983 | $90,000 |
| 1982 | $64,000 |
| 1981 | $60,000 |
| 1980 | $55,000 |
| 1979 | $50,000 |
| 1978 | $45,000 |
| 1977 | $40,000 |
| 1976 | $40,000 |
| 1975 | $40,000 |
| 1974 | $35,000 |
| 1973 | $30,000 |
| 1972 | $25,000 |
| 1971 | $25,000 |
| 1970 | $25,000 |
| 1969 | $20,000 |
| 1968 | $20,000 |
| 1967 | $20,000 |
| 1966 | $20,000 |
| 1965 | $20,000 |
| 1964 | $20,000 |
| 1963 | $20,000 |
| 1962 | $20,000 |
| 1961 | $20,000 |
| 1960 | $17,500 |
| 1959 | $15,000 |
| 1958 | $11,250 |
| 1957 | $8,750 |
| 1956 | $6,000 |
| 1955 | $5,000 |
| 1954 | $5,000 |
| 1953 | $4,000 |
| 1952 | $4,000 |
| 1951 | $3,000 |
| 1950 | $2,400 |
| 1949 | $2,750 |
| 1948 | $2,500 |
| 1947 | $2,500 |
| 1946 | $2,500 |
| 1942 | $1,500 |
| 1941 | $1,500 |
| 1940 | $1,500 |
| 1939 | $1,500 |
| 1938 | $1,500 |
| 1937 | $1,500 |
| 1936 | $1,500 |
| 1935 | $1,500 |
| 1934 | $1,500 |