Winning jockeys also get a slice of the prize money on top, which is expected to be approximately 8–8.5% for a winning ride or 4-5% for a placed finish. That means that if the winner's share of the purse was $100,000, the jockey would receive $4,000-$5,000.
Jockeys usually make between $0 and $150,000 in winnings, depending on how many horses they ride and how well they do. But some jockeys can make as much as $250,000 or more; others make less than $100,000 over the course of a year.
A jockey needs to win or place in all six races to earn a living. If he or she finishes outside the top two spots in each race, they will only earn a part-time living. Some jockeys who are good enough to land regular mounts but lack the necessary talent to win often provide their services to other riders as "sweepers," helping them out by taking positions ahead of them in the lineup. This allows these less-than-perfect jockeys to work more races without being passed over entirely.
There are several ways for a jockey to make extra cash beyond their main job.
Jockeys are paid 5% of a horse's total prize money for each race. In 2020, the winner, Jye McNeil, will get $220,000. The second-place jockey receives $55,000 in prize money, while the third-place jockey receives $27,500. Fourth, fifth, and sixth place jockeys also receive payments of $22,050, $11,250, and $5,625 respectively.
Australian jockeys are among the highest-paid jockeys in the world. They usually make between $300,000 and $600,000 annually depending on how well their horses run.
The average jockey salary is $450,000.
There are no federal laws that govern jockeys in Australia but the country's major racing associations have rules that regulate pay rates and other aspects of the profession. For example, jockeys can't be paid more than 20 times their annual salary. Also, they must keep certain amounts in trust until they retire from the sport.
Australia has one of the most lucrative racing industries in the world. The country has just over 200 licensed jockeys compared to Britain's 10,000-plus. However, England's trainer salary is higher because they work with more expensive horses than their Australian counterparts.
Licensed jockeys are required by law to wear helmets when riding at public tracks.
This is one of the highest salaries in all of sports.
The salary depends on how well the rider performs. If he or she leads a horse to victory in either of the two races held at Mount Everest, they will earn at least $100,000. If they only place, they will still receive half that amount. The more races that are run simultaneously, the higher their pay will be. For example, if there are four races being run and the rider wins three of them, they will earn $150,000.
It is very difficult to make a living as a jockey. Only 1 in 10,000 people are able to do this as a career. The majority work in factories, farms, or casinos as stable workers or trainers.
In 2017, the average salary of a jockey was $750,000. This is higher than the average salary of other professional athletes.
Jockeys usually start out with lower-paying jobs such as groomers or barn cleaners before working their way up to assistant trainers or stable boys.
Top jockeys may have up to 1,000 rides per year and earn tens of thousands of dollars in prize money and sponsorship. On the other end of the scale, jockeys struggle to secure 200-300 rides each year, and these are frequently in races with tiny prize money. Only very top jockeys ever come close to earning a living solely from riding.
In any given year, there are on average about 20,000 horse races held in America. Of those, about 1 in 5 offers any prize money at all, and only about 1 in 100 offers any real opportunity for jockeys to make good money. The remaining 99% are either no race at all or something so low-profile that it would be impossible for a jockey to qualify for even lower-status prizes such as place or show.
There are several ways a jockey can improve his chances of getting rides. He can work hard, learn how to ride "style," get help from connections, or accept some dangerous horses. Most jockeys try to do everything they can to get rides, but some tactics employed by fellow riders or owners can prevent them from finding jobs.
Jockeys usually start out as apprentices working for local trainers or owners. This gives them experience and time to learn the sport, but also means they are not making any money.
However, as a general rule, flat jockeys get around 7% of the advertised win award and 3% of the advertised place prize. Jump jockeys get around 9% of the winnings and 4% of the placings. The PJA and the ROA discuss the riding charge each year. Usually, they are equal.
In addition to their base salary, flat jockeys also receive bonuses for achieving certain goals such as many victories or high earnings per trip. These bonuses can be significant but are dependent on many factors such as how well the horse is doing and whether or not the rider has reached his or her bonus goal yet this year.
Jump jockeys usually make more than flat jockeys because they are expected to ride more races and perform better in them. However, some owners prefer one type of jockey over another because they think it will make for an easier race track experience if they know what kind of jockey will be riding their horses.
How much money does a jockey receive for winning the Melbourne Cup? Jockeys are entitled to 5% of the prize money received and are generally compensated for scheduling the ride. In 2020, that figure will be $220,000. The winning jockey is entitled to 5% of the total prize money. If the race has been run in divisions, the jockey receives 5% of the purse for each division won.
The base salary for jockeys is usually between $20,000 and $50,000 per year. However, they can make up to $150,000 per year if they win major races such as the Melbourne Cup. The average winning bonus for jockeys is around $1.5 million with the highest being $16.5 million paid out in 2016. There have been nine jockeys who have earned over $1 million in winning bonuses.
In 2014, it was reported that the average jockey spent about 50 hours per month working on their horse's training camp and racing them in some of the world's most prestigious events. The total prize money awarded in the Melbourne Cup is $4.6 million with the winner receiving $220,000.
Jockeys that win fewer than 10% of the time are a bad investment. Those that win at a rate of 10-15% are somewhat better. Jockeys that win at a rate of 15-20% are worth a second look, but jockeys who win at a rate of 20% or above might be like money in the bank under the appropriate circumstances.
The average winning percentage of all jockeys is about 40%. However, some jockeys are better than others - in fact, there have been cases where one rider has won more than half of his races over an extended period of time. If you find a jockey with a high winning percentage, he or she is likely being given better horses to ride and may even get paid more because of it.
In addition to being able to ride well, there are other factors involved in becoming a successful jockey. You must be willing to put in long hours in the saddle, often riding several races in one day if necessary. It's also important that you don't have any medical issues that would make riding unsafe. With these things considered, a winning percentage between 50-60% is about as high as you can go.
If you want to become a jockey, you need to know that this is not a career for everyone. It's an extremely physically demanding job that requires lots of training and practice before you are able to race competitively at the highest levels.