The life of a jockey looks exciting: fast horses, loud fans, and the thrill of winning. But, how much do jockeys really earn?
According to the Jockeys’ Guild, the average jockey salary in the USA is between $60,000 and $80,000 annually. So, most riders earn around $5,000 to $6,000 monthly, but their exact income depends on the number of races they are in and their performance.
However, the horse racing industry is a different story. The top jockeys can earn $1 million or even more annually, while the ones at the bottom barely make enough to cover the expenses of their travel and training. The sport is a game of talent and success; a jockey's income increases with the number of races he wins.
Jockeys, unlike many other athletes, are not given a fixed salary. They are paid per race, also known as a “mount fee.” This fee is usually between $100 and $500 for most professional races, and it is paid just for showing up and riding.
On the other hand, the money that is really available is the money that comes with the wins and the places in races. The winning jockeys will receive 5–10% of the purse (the total prize money) that is given to the winners. For small races, that could be anywhere between $500 and $2,000, while for big events like the Kentucky Derby, it can even be as high as 10s of thousands of dollars.
Here’s a quick look:
If this is the case, a jockey who is riding multiple horses in a day can make it so his/her earnings vary from one race to another.
Jockeys receive money through race commissions and a percentage of the prize. Their revenue is determined by:
What’s more?
Also, those figures don’t incorporate the additional money from sponsoring, bonuses, or media appearances. On the other hand, the cost of their travels, insurance, and a portion of their winnings, which goes to their agent (about 25%) and valet (about 5%), is paid by jockeys themselves.
Winning is really where the big money is. Usually, jockeys get 5–10% of the winner’s purse, varying with the race. Here are some examples:
Last year, the Kentucky Derby had a total purse of $5 million, and the winning jockey's share was about $310,000 before taxes and fees. So, after the payment to the agent and valet, the money that is left for the jockey is roughly $200,000, a nice reward for a race that lasts just over two minutes.
John Velazquez is the one to top the list of lifetime earnings. He is among the most successful jockeys in the history of the U.S., with career earnings that went beyond $415 million. Within 30 years, Velazquez has won the Kentucky Derbies, Belmont Stakes, and Breeders' Cup races several times.
Pat Day is another legendary name who made more than $298 million in purse money throughout his 30-year career and is the only one to have 8,800 race wins. His approximate net worth is between $20 and $30 million.
These numbers are indicative of what the sport can be in terms of money for the top riders.
The biggest factor in the difference in jockey salaries is performance. Jockeys receive money according to their riding frequency and winning frequency. To a great extent, the factors that influence the performance are:
The difference in risk is the other reason for the variance. Jockeys are in quite risky situations every day; for example, when they are on a fast-moving horse at 40 mph and have to maintain their balance. Their physical condition and mental concentration are very important, and if they get injured, their income may suffer.
The average jockey's salary will be considered low by comparison to the salaries of other pro athletes, but the top performers are in a position to make a breathtaking amount of money. For most of them, it’s not just about the money; it’s about a love of the sport, a bond with the horses, and the feeling of the competition.
While hardly anyone will become a millionaire, the way to the top is there for any talented, hardworking, and determined person. It doesn’t matter if it’s a small local race or the world-famous Kentucky Derby; every ride is worth it toward developing a jockey’s career and gaining recognition.
The average jockey in the U.S. can make $60,000 to $80,000 in a year. In addition to that, those who are at the top of the games in big races can earn more than $1 million annually as a result of winning and receiving bonuses.
An average race jockey is paid a mount fee, which varies from $100 to $500, and if he wins, he can get 5–10% of the purse. In a race such as the Kentucky Derby, this can be as high as $300,000 or even more.
Among the factors that influence Jockey pay are experience, performance, and the type of race. In fact, top-tier jockeys earn a higher income since they not only ride better horses but also participate in more high-paying events.
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