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.
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 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.
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.
Just four years later the winner’s share eclipsed $10,000 for the first time.
The next major milestone came just south of 20 years later when the winner’s share reached $50,000.
In five years the winner’s share more than doubled to surpass the six-figure mark for the first time.
Another five years, another milestone as Nick Faldo banked $200,000 for his first of consecutive wins in 1989.
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.
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.
It took 18 years until the first place reached the $2 million mark when, once again, Tiger Woods emerged victorious.
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.
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 |