Due to the popularity of figure skating, athletes earn more money in this sport. Since competing as a figure skater is expensive, only a small percentage of figure skaters earn enough money to even begin to pay off the money they have put into the sport for instruction, rink time, costumes, and other expenditures. In the US, the typical figure skater earns $64,168. Let us know about ‘Salaries for Figure Skater’.
Salaries for Figure Skater:
The majority of Figure Skating wages currently fall between the 25th and 75th percentiles between $41,500 and $83,500, respectively. Top earners in the United States (90th percentile) make $100,000 yearly, with annual salaries as high as $113,000 and as low as $4,000 for this profession. Moreover, the majority of figure skaters also secure their financial resources through side jobs, family money, crowdfunding, and community support.
Salary and Profits of Figure Skaters
Depending on the show in which they participate, whether they are working as sports commentators for skating coaches, and other factors, professional skaters earn a wide range of salaries. The ranges for figure skating are from $19,910 to $187,200, with a median pay of $44,680. Figure skaters in the middle 50% earn $28,400, while those in the top 75% earn $187,200.
In addition, depending on the competition and the performance of the participants, the prize money for figure skating competitions can range from $2,000 to $45,000. Although they are only paid for the weeks they are practicing and performing, skaters who perform on cruise ships or tour with companies can expect to make between $500 and $800 each week. This comes to around $20,000 per year.
The tax on a figure skater::
The average federal tax rate for a single filer in the 2018 tax bracket is predicted to be 22%. The figure skaters may earn $54,111 per year, or about $2,255 per paycheck, after paying a federal tax rate of 22%.
The Lifestyle of figure skaters:
A figure skater would pay 55.57% of their monthly take-home pay toward rent with take-home pay of about $4,509 and a median 2-bedroom apartment rental price of $2,506 per month. The median annual pay for athletes and sports competitors was $51,370 in 2017, according to the Bureau of Labor Statistics. One side thus makes more money than the other.
Costs of Specialized Medicine:
Figure skating is a very demanding sport that requires intense training to make the moves appear smooth. Thus, health care expenses in addition to training costs are another factor that affects the salary of figure skaters.
The most frequent conditions that figure skaters undergo are stress fractures, knee injuries, and hip issues. Regular physical therapy or massages are a part of an athlete’s regimen that keeps them performing at the greatest levels even when they are healthy.
Salaries of figure skaters After Winning Competitions:
The national governing organization for figure skating is rather big and wealthy, and the sport is one of the most well-known at the Winter Olympics. Even so, only a small percentage of figure skaters earn enough to even begin to recoup their financial investment in the sport.
Leading figure skaters who participate in international competitions can win anywhere from $2,000 to $45,000 in prizes, depending on the event and their finish. Additionally, most athletes must assemble their sources of revenue from side jobs, family money, and community support.
Other Sources of Funding
Through U.S. Figure Skating, figure skaters do have access to a small amount of cash. But the amount a figure skater can get depends on how well they did the year before, in other words, the best skaters are entitled to the greatest money. Athletes must also pay their bills in full, including by borrowing money if necessary, before submitting their receipts for reimbursement. Nonprofit organizations exist that assist athletes with raising money for the competition.
Salaries across different regions:
- Figure skaters in New York City can expect to make between $19,910 and $187,200 per year, with a median pay of $44,680. Figure skaters in the middle 50% earn $28,400, while those in the top 75% earn $187,200.
- Figure skaters in San Francisco, California can expect to make between $19,910 and $187,200 a year, with a median salary of $44,680. Figure skaters in the middle 50% earn $28,400, while those in the top 75% earn $187,200.
- Figure skaters in Los Angeles can expect to make between $19,910 and $187,200 per year, with a median pay of $44,680. Figure skaters in the middle 50% earn $28,400, while those in the top 75% earn $187,200.
Figure skaters need to pay for expensive costumes, private instructors, skates, travel, physical therapy, and other expenses which cost between $35,000 and $50,000 a year. Figure skaters in the US earn wages ranging from $19,910 to $187,200, with a median pay of $44,680 annually. Figure skaters in the middle 50% earn $28,400, while those in the top 75% earn $187,200.
Frequently Asked Questions
- How many hours a day do figure skaters practice?
Figure skaters must practice for at least three to four hours each day.
- Are judges in figure skating paid?
The judges of figure skating competitions are not compensated like the officials in professional basketball and football. Instead, they receive compensation for airfare, lodging, and $100 a day for meals during these Olympics.
- Is ice skating an expensive sport?
The cost of coaching, travel, physical rehabilitation, and athletic training makes figure skating one of the most expensive sports.
- Which female figure skater has the most wealth?
Yuna Kim is the wealthiest and highest-paid figure skater in the world.
- Which American city gave figure skaters the highest salaries?
The average annual salary for figure skaters in Los Angeles is $64,168, which is 0% more than the national average.