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 / 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.