The Olympic Hustle: How Athletes Are Balancing Dreams with Day Jobs
For many, the image of an Olympic athlete conjures visions of glory, sponsorships and financial security. The reality, however, is often a stark contrast. While the global spectacle of the Olympics generates billions in revenue, the athletes themselves frequently struggle to make ends meet, forcing many to juggle rigorous training schedules with second jobs. This is changing, but slowly.
The Financial Strain on Olympic Hopefuls
The dedication required to compete at the Olympic level is essentially a full-time job, leaving little opportunity for traditional employment. Training expenses – including travel, equipment, coaching, and medical care – can easily reach tens of thousands of dollars annually, and even exceed $100,000 for some sports. Adding to the challenge, the International Olympic Committee (IOC) does not directly pay athletes to compete; financial support comes from national governing bodies and, increasingly, private donations.
A recent report highlighted that elite American athletes are, on average, financially worse off for having competed, losing approximately $12,000 per year when accounting for all associated costs. This financial insecurity is particularly acute in the United States, where the government does not provide salaries to Olympic or Paralympic athletes.
A Billionaire’s Boost: The Stevens Financial Security Awards
A significant shift is underway thanks to a $100 million donation from billionaire Ross Stevens, founder and CEO of Stone Ridge Holdings Group. Starting with the 2026 Winter Olympics in Italy, every U.S. Olympian and Paralympian will receive $200,000. This is distributed as a $100,000 grant, payable over four years, accessible either at age 45 or 20 years after their qualifying Olympics, and a $100,000 life insurance benefit for a designated beneficiary. Stevens stated his belief that financial insecurity shouldn’t prevent athletes from achieving excellence.
While a game-changer, the funds aren’t immediately accessible, providing long-term security rather than immediate relief. The structure ensures support even after an athlete’s competitive career ends.
Beyond the Podium: Athletes’ Side Hustles
Despite the Stevens donation, many athletes still rely on additional income streams to support their Olympic dreams. Here are a few examples:
The Barista
Alpine skier Keely Cashman, a 2022 Olympian and qualifier for the 2026 games, works as a barista at the Serene Bean, a coffee shop owned by her family in a tiny California town. Growing up in a blue-collar area, Cashman’s family relied on her father’s coaching to offset the high costs of ski racing.
The Broker
Curler Chris Plys balances his Olympic training with running his family’s food brokerage, Plys Superior Consulting. He previously competed in the 2010 Olympics as an alternate and even appeared on a reality show to help fund his parents’ trip to the games.
The Dentist
Curler Tara Peterson is a practicing dentist, a profession she shares with her sister and fellow Olympian, Tabitha. Dentists earn a median salary of around $180,000, providing a stable income alongside her athletic pursuits.
The Artist
Freestyle moguls skier Bradley Wilson has turned his creative passion into a business, selling original artwork through Bradley Wilson Studios. He sells prints and paintings, helping to fund his ski career and supplement sponsorship income.
The Global Disparity in Olympic Rewards
The financial rewards for Olympic success vary dramatically by country. While a gold medalist in Singapore can earn nearly $750,000, a U.S. Gold medalist receives only $38,000. This disparity highlights the differing levels of government support and national pride invested in Olympic athletes around the world.
Frequently Asked Questions
- Do Olympic athletes get paid a salary? No, in the U.S., Olympic athletes do not receive a salary from the government.
- How much money will U.S. Olympians receive from Ross Stevens? Each U.S. Olympian will receive $200,000, distributed over time and including a life insurance benefit.
- What are some common side jobs for Olympic athletes? Athletes work as baristas, brokers, dentists, artists, and in various other professions to supplement their income.
- Does the IOC pay athletes? No, the International Olympic Committee does not directly pay athletes to compete.
The financial landscape for Olympic athletes is evolving, but challenges remain. The generous donation from Ross Stevens is a significant step forward, but the need for sustainable funding models and increased support for athletes remains critical to ensuring that the pursuit of Olympic dreams isn’t limited by financial constraints.
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