How Much Money do Professional Women’s Gymnasts Make?

The topic of women’s gymnastics has been all over the news and social media, especially with the stunning performance of Simone Biles and the US Women’s Gymnastics team. If you were feeling inspired by the performances and the medals they brought home, then you might be wondering: how much are professional athletes paid?

The difficult reality is that there is a disparity in pay when you compare women’s gymnastics with other professional sports. Their primary income streams include competitions, endorsements, sponsorships, and media appearances. For someone like Simone Biles, she is making much more money off the endorsements and sponsorships than she gets from the competitions.

Competition Cash

There is prize money available for the winners, but the amount is limited. Even at the highest levels of competition, such as the World Championships and the Olympics, the winners receive payouts – but the cash is limited when you consider how much time and money goes into preparing for the competition.

If an athlete wants to generate any substantial income, then they must have consistent success in these competitions. And the truth is that the winning margins are so competitive, making it challenging for athletes to stay at the top.

Sponsorships and Endorsements

This is where the income possibilities really start to get interesting. In fact, sponsorships and endorsements are often a major income source for all of the top gymnasts. Not only do these gymnasts need to be training for the sport, but they will have more opportunities for sponsorships and endorsements if the public loves them. Which means they need to participate in the most popular social media platforms.

Simone Biles is a great example of bringing in a lucrative income through sponsorships. In recent years, she has been sponsored by major brands such as Athleta, SK-II, Visa, United Airlines, MasterClass, Powerade, AutoNation, and more. While we don’t know the details of the agreements, there’s no question that this sponsorship money outweighs the competition cash she receives – brands will pay a lot of money to high-visibility influencers.

Media Appearances and Other Ventures

Another form of income can be found in media appearances, events, book deals, speaking engagements, and other ventures. Because they are popular, the big names in sports can generate a lot of interest in the public – which means they can ask for a lot of money to participate in different media projects.

These media appearances and other opportunities definitely add to the bottom line, helping to contribute to the overall income for gymnasts and other female athletes.

–Written by Becki Andrus in partnership with Checkworks personal and business checks.