DO Olympic athletes earn cash for winning metals other than the endorsements they get?

Question

DO Olympic athletes earn cash for winning metals other than the endorsements they get?

Answer 1

yes they get a reward money based on their medal they got

interesting fact: Speedo said a long time ago that they would pay Micheal Phelps 1 million dollars if he could equal or beat mark Spitz's record

Answer 2

Yep.  For instance each member of the Woman's Eight Rowing team took home $16,000, along with their extremely valuable gold medals.

Answer 3

It really depends on the country they live in, such as in China they pay their athletes about 5 times more than they do in the US, as the united states athletes are usually better off anyway, but in china many athletes are picked at a young age to compete and so their families usually really need the money.