Salaries of Hungarian Olympians: How Much Do They Earn?
Hungarian Olympians are not only rewarded with fame and glory for their achievements but also with a substantial cash prize and annuities. The Hungarian government made the decision to increase the amount of money awarded for Olympic and Paralympic medals, as well as other achievements, in December 2023. This new policy came into effect just before the Paris Olympics in 2024.
Olympic and Paralympic medallists in Hungary also receive a lifetime annuity starting from the age of 35. The amount of this annuity is based on their average annual earnings, as determined by the Central Statistical Office (KSH). Gold medallists receive a gross amount of HUF 418,000 (EUR 1,063), followed by silver medallists receiving 70% of this amount, and bronze medallists receiving 50%.
In addition to annuities, Hungarian Olympians receive a generous cash prize based on their ranking at the Olympics. The cash prize for Olympic winners is as follows:
– 1st place: HUF 55 million (EUR 140 thousand)
– 2nd place: HUF 39.27 million (EUR 100 thousand)
– 3rd place: HUF 32.35 million (EUR 82 thousand)
– And so on down to the 8th place
Paralympians in Hungary also receive a cash prize based on their ranking, with the top prize being HUF 27.5 million (EUR 70 thousand) for first place.
This system of rewarding athletes in Hungary reflects the country’s commitment to recognizing and supporting the hard work and dedication of its Olympians and Paralympians. Winning a medal at the Olympics is not only a great honor but also a lucrative achievement for these exceptional sportsmen and sportswomen.
