Tennis players do not receive a salary, thus they must rely on other sources of revenue to supplement their income. Nonetheless, the greatest tennis players are paid well - Roger Federer was the fifth highest-paid athlete in 2019, earning around $93.4 million, while Novak Djokovic was ranked 17th, earning $50.6 million.
In fact, some top tennis players can make more than one billion dollars over their career. The most lucrative sport in terms of prize money is football ($1.5 billion), followed by basketball ($750 million), baseball ($660 million), and hockey ($600 million).
The average salary of a tennis player is $2 million per year, but this varies depending on how high up they place in the world rankings. If a player reaches the quarterfinals of a major tournament then they will usually earn extra money. For example, if a player wins a match in straight sets then they will probably get £100,000 (approximately $125,000) - this is known as a "first-round bonus".
If they reach the semi-final or final then they will usually get another bonus of £250,000 (approximately $310,000). At the end of the season there is also the chance to win additional cash prizes for being in the top-ten players in the world rankings. These bonuses can add up to quite a large amount of money, especially if a player reaches several finals/semi-finals during the season.
Tennis players may be compensated in a variety of ways. Even without a wage, the world's best tennis players are among the highest-paid athletes. It is because elite tennis players may make a lot of money from sponsorship agreements and appearance fees.
The main source of income for tennis players is the tournament system. The more tournaments they play, the higher their earnings. The best players can earn millions of dollars per year by playing only part-time.
Another way to make money out of tennis is by endorsing products. This is especially useful for young players who need to pay their way through school or college. Their parents might also give them some extra cash so that they can live comfortably.
At the end of the season, the top-earning tennis players are revealed in the ATP (Association of Tennis Professionals) Top 100 list. So far this year, the number one player has earned $4 million, while the second-highest earner has made $3 million.
The average salary of a tennis player is about $2 million a year.
Rich tennis players tend to come from wealthy families. But many poor players have been able to make a good living out of the game as well.
Federer was rated first on Forbes' list of the Highest-Paid Athletes 2020, with an expected salary of $6.3 million and endorsements of $100 million in 2020 alone. The total amount earned by all of his brands together is estimated to be $750 million.
His earnings include a $4.5 million paycheque from Team Switzerland, the number one-ranked tennis team in the world. He also receives $1.5 million from IMG, the company that manages his business interests. Federer's endorsement deals include contracts with Nike, Rolex, Pepsi, Wilson, Head, Volkl and Babolat.
He owns two restaurants in Switzerland - a steakhouse in Zurich and a sushi bar in St. Gallen - which he co-owns with his wife Mirjam. The couple also has a son named Max who is about to start school in Switzerland.
Federer has won more Grand Slam singles titles than any other player. With 15 overall, he is also the most successful male tennis player of all time.
His record-breaking career has earned him many awards, including the Golden Ball award as the greatest player of all time at the 2001 FIFA World Player of the Year ceremony.
The majority of players make the most of their money through prize money from various competitions. A professional tennis player makes an average of EUR35,000 per year. Which is excellent, however when compared to Roger Federer and Novak Djokovic's yearly earnings, EUR 35k is almost nothing. They are two of the best tennis players in the world and they both earn far more than that every year.
Tennis players can also make extra money through sponsorship deals and advertising. The more successful you become, the more opportunities there will be for you to earn extra cash.
In conclusion, tennis players make an average of EUR 35k per year but this can vary depending on how successful you are. There are many ways to make more money beyond playing tennis including coaching, writing about the game, and acting as a manager or agent.