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How Olympic athletes pay the rent

posted by Pretty Tough | Girls Who Are Fun Fierce & Feminine
Sunday, February 28, 2010 at 7:50pm EST

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If you’re dreaming of becoming an Olympic athlete, remember that beyond all the training, competition and glory there is a lot of financial struggle. Training for the Olympics (never mind competing) is at least a full-time (usually unpaid) job and even Olympians have to pay the rent.

A CNN Money article explains:

These world-class athletes are in the spotlight for two weeks every couple of years. But for the most part, they’re just regular people who have to make a living as teachers, fitness instructors or market researchers, all while putting in hours of grueling sports training.

For every Shaun White and Lindsey Vonn, two gold medalists who have scored multi-million dollar endorsement deals, there are hundreds more who struggle with everyday jobs.

So how do Olympic athletes survive financially?

In the United States, where many athletes begin training at an early age, training costs are often paid by their parents. Those expenses can run into tens of thousands annually for the most talented youngsters.

After high school, colleges and universities become an athlete’s primary source of training. Often competing on scholarship, these athletes’ efforts are rewarded not only with top-notch coaching but with financial aid to complete their education.

When an athlete is selected to a national team, some funding usually becomes available from the USOC which relies on corporate sponsors and private donations. But that generally isn’t enough to cover their travel, tournament, and equipment costs.

Expenses pile up fast. According the CNN Money article, Olympic curler Nicole Joraanstad says a single season competing just to qualify for the Olympics costs as much as $150,000.

Many athletes used to work at the Home Depot, a company that since 2004 had been a part of the Olympic Job Opportunities Program (OJOP), a partnership with the U.S. Olympic Committee that pays athletes full-time salaries and benefits for working part-time hours. But the retailer folded OJOP in 2009, after four years as the exclusive sponsor.

The USOC also partners with staffing firms to help athletes secure flexible positions. The Adecco Group, a Zurich, Switzerland-based global staffing firm, recently renewed its contract with the U.S.O.C. through 2012.

Strong work ethics and time management skills make athletes attractive to employers, says Patricia Wilson, brand director for Adecco Group North America. “Athletes know how to succeed independently, but they [also] know the importance of being a team player,” she said.

In the early days of the modern Olympics, all the participants were amateurs. The Olympic mystique suggested that anyone could be a contender. Ordinary people dreamed of being Olympians, and the dreams spurred athletic activity all over the world.

Then the Soviet Union and its Communist allies entered the games. Their athletes were fully supported by their governments. None ever held a job. They trained 8 hours a day, 365 days a year. They won most of the gold, silver and bronze during the 1970s and 1980s. It was unfair and in 1986, the IOC changed its rule book (Olympic Charter) to allow “all the world’s great male and female athletes to participate.”

Money has changed the look and feel of the Olympics. To remain competitive, athletes have to rely on their families and sponsors for expensive equipment, travel and training expenses.

Winter athletes may have the hardest time since their sports are more popular outside of the United States. What’s worse is that the United States won’t host an Olympic winter or summer event for some time, pushing U.S. athletes further out of the spotlight. Athletes may fade from attention in off-Olympic years, but they still have to support themselves.

Most nations support their Olympic athletes financially, but the U.S. government gives zero money to its athletes. All the host cities in the world except those in the USA have supported their host Winter and Summer Olympics with billions of dollars. Many countries also reward their medalists with money for landing on the podium.

The USOC does offer “medal bonuses” (currently $25,000 for gold, $15,000 for Silver, and $10,000 for Bronze) and while the bonuses are a nice way to reward athletes for a big accomplishment, very few will ever enjoy the steady income that comes with a corporate sponsorship, making what they endure to compete all the more impressive.

Regardless of who foots the bill, the true test of an Olympian is their passion and how hard they train. Money cannot buy the drive and persistence of an Olympian.