Overview
The Masters Tournament is one of golf’s four major championships and among the highest‑priced events on the PGA Tour. Prize money at The Masters has grown steadily each decade, driven by sponsorship revenue, tournament receipts, and a larger purse pool. The winner typically receives roughly 18 percent of the total purse, the highest percentage of any major. This guide explains how payouts are calculated, distribution tiers, and how The Masters compares to other major championships.
Purse size and winner payout
Recent purse totals and winner shares
Since 2025, The Masters has set a total purse of $20.5 million. The winner’s share is set at 18 percent, or about $3.69 million. Payouts follow a set percentage scale that drops off quickly after the top finishers, with the 50th place finisher receiving a minimum guaranteed amount and beyond 50th determined by FedEx Cup points allocations. The table below summarizes verified payout tiers for the most common cut line positions.
| Position | Prize (USD) | Share of Purse | Notes |
|---|---|---|---|
| Winner | ~$3,690,000 | 18% | Masters champion minimum guarantee; actual may be higher with bonuses |
| 2nd | ~$2,040,000 | 10.8% | |
| T3 | ~$1,130,000 | 5.5% | |
| T5 | ~$670,000 | 3.2% | |
| T10 | ~$430,000 | 2.1% | |
| T50 | ~$26,000 | Minimum payout; beyond 50th determined by FedEx Cup points | |
| Outside top 50 | 0 (no payout) | — | FedEx Cup points awarded instead |
How the purse is determined
The Masters purse is not linked to a fixed formula but grows with the tournament’s popularity, media rights fees, and sponsor contributions. Augusta National sets the total purse, often increasing it every few years to remain competitive with other majors. A larger purse allows for deeper payouts and higher guarantees for lower‑placed finishers, while the winner’s share percentage has remained near 18 percent historically. Tournament receipts, hospitality revenue, and broadcasting income feed directly into the purse size.
Notable details and historical context
Historical winner payouts at The Masters
When the purse was smaller in earlier decades, the winner’s percentage was also lower. Over time, The Masters increased both total purse and the winner’s cut to reflect its status as a major. The winner now receives not only the largest single check of the field but also lifetime benefits tied to Augusta National membership and global exposure. Because the event is invitation‑only and limited to about 90 players, the payout structure emphasizes rewarding a deep field while maintaining a premium for the champion.
- Each year The Masters announces the official purse and payout percentages in late March ahead of the tournament.
- Winner guarantees include appearance fees and sponsor obligations, which can add to the cash award.
- Players finishing outside the top 50 earn FedEx Cup points but no direct cash prize from the tournament purse.
Comparison with other major championships
While The Masters often has a smaller total purse than the U.S. Open and PGA Championship, its winner’s percentage is among the highest of the majors. The U.S. Open typically allocates about 15–17 percent to the winner, whereas The Masters’ 18 percent is consistently at or near the top. Additionally, The Masters offers higher minimum payouts for non‑winners relative to its purse size, reflecting its commitment to sharing revenue across a deep field.
| Tournament | Approx. Winner % | Recent Purse (USD) | Winner Payout (approx) |
|---|---|---|---|
| The Masters | 18% | $20.5M | $3.69M |
| U.S. Open | 15–17% | $22M | $3.0–3.7M |
| PGA Championship | 17–18% | $22M | $3.7–4.0M |
| The Open Championship | 15–17% | $22M | $3.0–3.7M |
Key terms and definitions
- Purse: The total prize money pool for the tournament, set by the host and sponsor contributions.
- Winner’s share: The percentage of the purse awarded to the champion; at The Masters this is 18 percent.
- Cut line: The scoring threshold (top 50 plus ties) to receive a payout; players below the cut receive no purse money but can earn FedEx Cup points.
- FedEx Cup points: A season‑long points system that determines tour standings and playoff qualification; awarded to players who miss the cut at majors.
Frequently asked questions
- Does The Masters winner receive more than cash? Yes. The champion earns lifetime Masters invitations, a Clement Trophy replica, and global media exposure that add long‑term value beyond the prize check.
- Are payouts taxes included? Prize money amounts shown are gross figures; federal, state, and international taxes are withheld separately and vary by jurisdiction.
- How does The Masters decide the minimum payout for 50th place? The tournament sets a minimum cash payout for 50th place (around $26,000 recently) and uses the FedEx Cup points system for players beyond that cut line.
- Has the winner’s percentage changed over time? The Masters has gradually increased the winner’s share over decades to reflect its stature; the current ~18 percent is near the top among majors.
Bottom line
The Masters Tournament prize money structure balances a premium champion payout with deep minimum guarantees for the top 50. With a $20.5 million purse and an 18 percent winner’s share, the event remains one of the most lucrative on tour. Players finishing outside the cut still earn FedEx Cup points, ensuring value beyond cash prizes. For long‑term planning and comparisons, the key figures are the purse total, the winner’s percentage, and the defined payout tiers through 50th place.