Golf’s four men’s major championships share the same place at the top of the sport, but they do not offer identical prize money.
The Masters and US Open currently provide the largest total purses. The PGA Championship sits just behind them, while The Open maintains a smaller prize fund despite its history and global standing.
In 2026, the Masters and US Open each offered £16.7 million ($22.5 million). The PGA Championship followed with £15.3 million ($20.5 million), while The Open announced a fund of approximately £13 million ($17.5 million).
Those numbers make the basic ranking clear. However, the differences between the majors involve more than the amount collected by the champion. Field size, cut rules, amateur participation and payments to golfers who miss the weekend all affect how organisers distribute the money.
Currency conversions in this article are approximate and use an exchange rate of £1 to $1.34. The majors announce their official funds in US dollars, including The Open.
Which golf major has the highest prize money?
The Masters and US Open shared the top position in 2026. Both tournaments offered total prize money of £16.7 million ($22.5 million), with £3.35 million ($4.5 million) going to each champion.
That placed them £1.5 million ($2 million) ahead of the PGA Championship’s total fund and around £3.7 million ($5 million) above The Open.
| Men’s major | Total prize fund | Winner’s prize |
|---|---|---|
| Masters Tournament | Approx. £16.7m ($22.5m) | Approx. £3.35m ($4.5m) |
| US Open | Approx. £16.7m ($22.5m) | Approx. £3.35m ($4.5m) |
| PGA Championship | Approx. £15.3m ($20.5m) | Approx. £2.75m ($3.69m) |
| The Open | Approx. £13m ($17.5m) | Approx. £2.39m ($3.2m) |
These figures apply to the 2026 championships. Organisers review their prize funds annually, so the order and exact amounts can change.
The Masters and US Open lead the comparison
The Masters increased its prize fund to a record £16.7 million ($22.5 million) in 2026. Its champion received 20 per cent of the total purse, producing a top prize of £3.35 million ($4.5 million).
Augusta National traditionally waits until the tournament has started before confirming the purse. That approach allows the club to consider the wider professional golf market before announcing its figures.
The US Open matched both the Masters’ total fund and its winner’s payment in 2026. Its purse rose to £16.7 million ($22.5 million), while the champion also collected £3.35 million ($4.5 million).
The US Open can accommodate a larger field than the Masters because its qualification system gives professionals and elite amateurs a route into the championship. As a result, the USGA must distribute its funds across more competitors.
The official PGA Tour payout report confirmed the 2026 US Open purse and the champion’s $4.5 million payment.
Although the Masters and US Open offered the same headline figures, their identities remain very different. The Masters has a smaller invitational field, while the US Open uses a broader qualification structure built around its national championship status.
The PGA Championship remains close behind
The PGA Championship offered £15.3 million ($20.5 million) in 2026. The winner earned approximately £2.75 million ($3.69 million).
That represents 18 per cent of the overall fund, compared with the 20 per cent awarded to the winners of the Masters and US Open.
The difference means the PGA champion received around £600,000 ($810,000) less than the winners at Augusta and the US Open. Even so, the PGA Championship remains one of the most lucrative individual events in men’s golf.
The PGA of America also distributes a large amount of money further down the leaderboard. A player does not need to challenge for the Wanamaker Trophy to record a substantial payday.
According to the PGA of America’s official prize-money breakdown, the runner-up received $2.214 million in 2026, while fifth place was worth $820,000.
That depth matters to players. A top-five finish at a major can transform a golfer’s season even without delivering the title.
Why does The Open pay less?
The Open carries an unmatched history as golf’s original championship, but the R&A has resisted matching every increase made by the American majors.
The 2026 prize fund at Royal Birkdale reached approximately £13 million ($17.5 million). The Champion Golfer of the Year was due to receive around £2.39 million ($3.2 million).
That left The Open with the smallest purse and winners’ cheque of the four majors.
The gap does not reflect a lack of prestige. Winning the Claret Jug can define a golfer’s career and create commercial opportunities that extend far beyond the official payment.
The R&A also invests revenue generated by The Open into golf development, championships and participation programmes around the world. It therefore balances player payments against its wider role in the sport.
For more detail on the championship’s distribution, see World in Sport’s guide to The Open prize money in 2026.
Fans following the championship can also read the Royal Birkdale course guide and the wider 2026 Open preview.
How do majors divide their prize money?
A major does not divide its total funds equally among all players. Each finishing position carries a set percentage or amount.
The winner receives the largest individual payment, followed by the runner-up and the rest of the field in descending order. When golfers finish level, organisers combine the prize money assigned to those positions and divide it equally.
For example, if two players tie for second, they share the combined payments for second and third place. Both receive the same amount.
This system means one shot can carry a six-figure financial value, particularly near the top of the leaderboard.
The field size also influences the distribution. The Masters normally starts with fewer players than the other majors. The US Open, PGA Championship and The Open use much larger fields before reducing them at the halfway cut.
What happens when an amateur finishes in a paying position?
Amateurs do not receive professional prize money while retaining their amateur status.
If an amateur finishes high on the leaderboard, the tournament removes that player from the payment calculation. The money then passes through the professional finishing positions in accordance with the championship’s rules.
An amateur could therefore finish ahead of several professionals without collecting the payment normally associated with that place.
The golfer still receives the competitive recognition, leaderboard position and any amateur award attached to the championship. Those achievements can prove highly valuable when the player later turns professional.
Do players who miss the cut receive money?
This depends on the major.
Players who make the cut receive official prize money based on their final positions. Some majors also provide fixed payments to professionals who complete 36 holes but miss the cut.
These payments are smaller than the amounts listed on the final leaderboard, but they help cover travel, accommodation, caddie fees, and other tournament costs.
Golfers operate as independent professionals rather than salaried members of a team. Competing in a major can involve significant expenses before a player earns anything.
Withdrawals and disqualifications may receive different treatment depending on when they occur and the rules used by the organiser.
Is major prize money taxed?
Yes. Prize money counts as taxable income.
The amount a golfer keeps depends on residency, the country or state hosting the championship, tax treaties and the player’s wider financial arrangements.
Three of the four men’s majors take place in the United States. The Open takes place in the United Kingdom, creating a different tax position for overseas competitors.
Players must also account for expenses and caddie payments. A caddie commonly receives a basic weekly fee and a percentage of the golfer’s winnings, with a larger percentage often attached to victory.
The advertised winner’s cheque is therefore a gross amount rather than the sum that lands untouched in the champion’s personal account.
Does the biggest purse make one major more important?
Prize money can show a tournament’s commercial strength, but it does not decide its sporting importance.
All four majors offer something that money alone cannot measure. The Masters awards the Green Jacket, the PGA Championship presents the Wanamaker Trophy, the US Open tests players in its national championship, and The Open crowns the Champion Golfer of the Year.
A major victory also brings exemptions, ranking points, sponsorship value and a permanent place in golf history. Those benefits may eventually prove worth more than the winner’s immediate payment.
The Masters and the US Open currently pay the most. However, no leading golfer would regard The Open as a lesser title simply because its purse sits below the other three.
That is the central point of the comparison: the prize funds differ, but the four trophies remain the achievements that define careers.
Readers can follow the latest tournaments, features and explainers through World in Sport’s golf coverage.
