The Masters Purse Just Reached $20 Million - Here’s How It’s Grown Through The Years
The winner of the 2024 Masters will pick up a record paycheck at Augusta National, as the tournament purse increases for yet another year
The Masters is one of the most prestigious tournaments on the golf calendar, with the world's best heading to Augusta National and the chance of earning a Green Jacket.
Arguably, the glory of becoming a Major winner at Augusta outweighs any paycheck but, for 2024, the Masters has seen yet another expansion in its prize money as, for the first time, the purse has hit $20 million, with the winner claiming $3.6 million.
In 2023, $18m was on offer, with the winner picking up $3.24 million, whilst Scottie Scheffler won $2.7m from the $15m purse in 2022. The rise in prize money means that it now matches the same prize money given out at the PGA Tour Signature Events, as well as last year's US Open won by Wyndham Clark.
It's no secret that purses within golf have increased significantly over the past few years. Despite $3.6 million being given to the winner of the Masters, it's still $400,000 less than those who win on the LIV Golf circuit. However, in the past five years, the winner's cheque has expanded from £2,070,000 to $3,600,000 at Augusta National.
So, how does the tournament purse compare to that of previous Masters? Well, below, we have gone back and listed the prize money from each and every Masters event to see the significant increase.
| Year | Winner | Purse | Winner's payout |
| 2024 | TBD | $20,000,000 | $3,600,000 |
| 2023 | Jon Rahm | $18,000,000 | $3,240,000 |
| 2022 | Scottie Scheffler | $15,000,000 | $2,700,000 |
| 2021 | Hideki Matsuyama | $11,500,000 | $2,070,000 |
| 2020 | Dustin Johnson | $11,500,000 | $2,070,000 |
| 2019 | Tiger Woods | $11,500,000 | $2,070,000 |
| 2018 | Patrick Reed | $11,000,000 | $1,980,000 |
| 2017 | Sergio Garcia | $11,000,000 | $1,980,000 |
| 2016 | Danny Willett | $10,000,000 | $1,800,000 |
| 2015 | Jordan Spieth | $10,000,000 | $1,800,000 |
| 2014 | Bubba Watson | $9,000,000 | $1,620,000 |
| 2013 | Adam Scott | $8,000,000 | $1,440,000 |
| 2012 | Bubba Watson | $8,000,000 | $1,440,000 |
| 2011 | Charl Schwartzel | $8,000,000 | $1,440,000 |
| 2010 | Phil Mickelson | $7,500,000 | $1,350,000 |
| 2009 | Angel Cabrera | $7,500,000 | $1,350,000 |
| 2008 | Trevor Immelman | $7,500,000 | $1,350,000 |
| 2007 | Zach Johnson | $7,418,464 | $1,305,000 |
| 2006 | Phil Mickelson | $7,000,000 | $1,260,000 |
| 2005 | Tiger Woods | $7,000,000 | $1,260,000 |
| 2004 | Phil Mickelson | $6,000,000 | $1,117,000 |
| 2003 | Mike Weir | $6,000,000 | $1,080,000 |
| 2002 | Tiger Woods | $5,600,000 | $1,008,000 |
| 2001 | Tiger Woods | $5,600,000 | $1,008,000 |
| 2000 | Vijay Singh | $4,600,000 | $828,000 |
| 1999 | Jose Maria Olazabal | $4,000,000 | $720,000 |
| 1998 | Mark O'Meara | $3,200,000 | $576,000 |
| 1997 | Tiger Woods | $2,700,000 | $486,000 |
| 1996 | Nick Faldo | $2,500,000 | $450,000 |
| 1995 | Ben Crenshaw | $2,200,000 | $396,000 |
| 1994 | Jose Maria Olazabal | $2,000,000 | $360,000 |
| 1993 | Bernhard Langer | $1,700,000 | $306,000 |
| 1992 | Fred Couples | $1,500,000 | $270,000 |
| 1991 | Ian Woosnam | $1,350,000 | $243,000 |
| 1990 | Nick Faldo | $1,250,000 | $225,000 |
| 1989 | Nick Faldo | $1,000,000 | $200,000 |
| 1988 | Sandy Lyle | $1,000,000 | $183,800 |
| 1987 | Larry Mize | $867,100 | $162,000 |
| 1986 | Jack Nicklaus | $785,000 | $144,000 |
| 1985 | Bernhard Langer | $700,793 | $126,000 |
| 1984 | Ben Crenshaw | $612,900 | $108,000 |
| 1983 | Seve Ballesteros | $500,000 | $90,000 |
| 1982 | Craig Stadler | $367,152 | $64,000 |
| 1981 | Tom Watson | $362,587 | $60,000 |
| 1980 | Seve Ballesteros | $359,949 | $55,000 |
| 1979 | Fuzzy Zoeller | $299,625 | $50,000 |
| 1978 | Gary Player | $262,402 | $45,000 |
| 1977 | Tom Watson | $280,477 | $40,000 |
| 1976 | Raymond Floyd | $200,000 | $40,000 |
| 1975 | Jack Nicklaus | $242,750 | $40,000 |
| 1974 | Gary Player | $229,549 | $35,000 |
| 1973 | Tommy Aaron | $224,825 | $30,000 |
| 1972 | Jack Nicklaus | $204,649 | $25,000 |
| 1971 | Charles Coody | $125,000 | $25,000 |
| 1970 | Billy Casper | $125,000 | $25,000 |
| 1969 | George Archer | $100,000 | $20,000 |
| 1968 | Bob Goalby | $100,000 | $20,000 |
| 1967 | Gay Brewer | $165,000 | $20,000 |
| 1966 | Jack Nicklaus | $100,000 | $20,000 |
| 1965 | Jack Nicklaus | $100,000 | $20,000 |
| 1964 | Arnold Palmer | $130,000 | $20,000 |
| 1963 | Jack Nicklaus | $112,500 | $20,000 |
| 1962 | Arnold Palmer | $110,000 | $20,000 |
| 1961 | Gary Player | $110,000 | $20,000 |
| 1960 | Arnold Palmer | $87,000 | $17,500 |
| 1959 | Art Wall Jr. | $75,000 | $15,000 |
| 1958 | Arnold Palmer | $60,000 | $11,250 |
| 1957 | Doug Ford | $45,000 | $8,750 |
| 1956 | Jack Burke Jr | $30,000 | $6,000 |
| 1955 | Carry Middlecoff | $25,000 | $5,000 |
| 1954 | Sam Snead | $25,000 | $5,000 |
| 1953 | Ben Hogan | $20,000 | $4,000 |
| 1952 | Sam Snead | $20,000 | $4,000 |
| 1951 | Ben Hogan | $15,000 | $3,000 |
| 1950 | Jimmy Demaret | $12,000 | $2,400 |
| 1949 | Sam Snead | $11,000 | $2,750 |
| 1948 | Claude Harmon | $10,000 | $2,500 |
| 1947 | Jimmy Demaret | $10,000 | $2,500 |
| 1946 | Herman Keiser | $10,000 | $2,500 |
| 1942 | Byron Nelson | $5,000 | $1,500 |
| 1941 | Craig Wood | $5,000 | $1,500 |
| 1940 | Jimmy Demaret | $5,000 | $1,500 |
| 1939 | Ralph Guldahl | $5,000 | $1,500 |
| 1938 | Henry Picard | $5,000 | $1,500 |
| 1937 | Byron Nelson | $5,000 | $1,500 |
| 1936 | Horton Smith | $5,000 | $1,500 |
| 1935 | Gene Sarazen | $5,000 | $1,500 |
| 1934 | Horton Smith | $5,000 | $1,500 |
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Matt joined Golf Monthly in February 2021 covering weekend news, before also transitioning to equipment and testing. After freelancing for Golf Monthly and The PGA for 18 months, he was offered a full-time position at the company in October 2022 and continues to cover news and social media.
Taking up the game when he was just seven years of age, Matt made it into his county squad just a year later and continues to play the game at a high standard, with a handicap of around 2-4. To date, his best round is a six-under-par 66 having been seven-under through nine.
Matt’s current What’s In The Bag?
Driver: Honma TW747, 8.75°
Fairway Wood: Ping G430 LST 15°, 19°
Irons: TaylorMade P7CB
Wedges: Cleveland 588 RTX 2.0 Tour Satin, 50°, 56°, 60°
Putter: Cleveland TFI 2135 Satin Cero
Ball: Titleist Pro V1