With Olympians making some pretty headlines Outrageous prizesit’s easy to believe that all medal winners are for life. However, not every champion’s career is paved with gold – just ask Daniela Ramirez.
Despite earning a coveted spot on the U.S. women’s synchronized swimming team and earning a silver medal for her country at the 2024 Paris Olympics Olympic GamesAfter a few months, Ramirez had to take on a side job to pay the bills.
“My income is only enough to pay one month’s rent,” she told reporters. British Broadcasting Corporation. “It’s not enough just to be a career, it’s a full-time job.”
The 24-year-old woman previously revealed that she Trains run from 6:30 a.m. to 2:30 p.m. At least – even on the weekends – there’s not much room for a 9-to-5 job.
Enter, influence.
Like many Gen Zers, Ramirez turned to social media content creation as a side job during the pandemic. Now, it pays more than being an Olympian.
“On social media, I make more than five times what an Olympic athlete makes every month,” Ramirez told reporters. wealth.
“I just started getting paid as an athlete three years ago, and I’ve been with the national team for eight years.”
Ramirez has nearly 550,000 followers on TikTok alone, and millions of people are following the so-called “ASMR” In the video, she peels the gelcoat off her sleek performance hairstyle.
“My main job now—the most profitable thing—is definitely TikTok. Instagramand all my social media accounts,” she told British Broadcasting Corporation.
“You can do things on your own time, on your own schedule, make ends meet and work on your sport full-time.”
Most Olympians don’t make money from their sport
Mainstream athletes like Simone Biles can make millions from sponsorship deals. Meanwhile, some lucky lesser-known athletes, like Filipino gymnast Carlos Yulo, may have a lifetime Fully Furnished Apartment Valued at $555,000more than $200,000 in cash, and a lifetime of ramen noodles to go with his medal if they are one of the rare medalists in their country’s history.
However, most Olympians don’t take advantage of these benefits.
Ramirez’s frustration was echoed by track and bobsled star Lauren Williams, who said her cellphone also wasn’t working despite being the first American woman to win medals at the Summer and Winter Olympics.
“The press coverage came, but the sponsors didn’t,” disclose Williams.
“There’s a misconception that because I’m the first one to do it – and no one else has done it – that I get booked speaking throughout the year… I get stuff here and there, but I can’t make a living from it,” she said.
Like Ramirez, she’s had to turn to other jobs to make ends meet — and they’re not alone.
A 2020 survey of 500 Olympic-level athletes from 48 countries found that 58% believed they “didn’t”financial stability” Respondents complained that they had to make a living from “leisure work” rather than sport.
The IOC does not provide prize money to competitors or medal winners. Instead, it is up to each country and its sport’s governing body to award prize money, if any.
For example, an American athlete who wins a gold medal will receive $37,500, a silver medalist will receive $22,500, and a bronze medalist will receive $15,000 (the British athlete will receive no cash bonus at all for winning). But those awards pale in comparison to the lifestyle and work ethic required to get to that level.
“The tournament prize money does help a lot, but a lot of times it takes a while, sometimes more than six months after the tournament ends,” Ramirez said. wealth.
“I can sympathize with any other athlete struggling to cope with the financial burden of training full-time,” she added. “My advice is to use social media to showcase the coolest things happening in your sport, and even the wackiest things. People like to be behind the scenes — and you never know.”
A version of this story was originally published on wealth network On August 28, 2024