How much the chess grandmaster salary is?
Chess is a sport like any other, and playing chess is not easy, requires dedication and a lot of effort. This is why people who play chess have great opportunities to work, and if you play chess very well you’re worth gold.
However, how much can you make from playing chess? This is a good question, and, how much money can a regular chess grandmaster earn?
The amount of money you can earn is relative, of course, a chess grandmaster salary is juicy, but it can change incredibly. For example, you can compare how much a grandmaster earns to what Magnus Carlsen earns playing chess. See what I mean?
Today, we are going to see different ways to earn money playing chess, and how chess grandmasters have a “salary” and the real ways to monetize chess.
Do you want to learn how to earn this money playing chess? Keep reading and we will go over all you have to know about the chess grandmaster salary.
How much is a chess grandmaster salary?
A chess grandmaster can earn around 2000 to 3500 dollars per month playing in events, simuls, and presenting in different places. However, the activity for the excellence of chess grandmasters is coaching, and they can charge up to 40$ an hour.
The thing is many factors can influence the amount you earn and how grandmasters promote their service. Remember that no company or institution secures the payment at the end of the month.
Chess grandmaster salary is defined by how much he works, the opportunities the master has, and interpersonal skills. A chess grandmaster can charge 40$ for an hour, or maybe 100$.
Everything will depend, a chess grandmaster offers an independent service, which means he can charge the amount he wants. If the chess grandmaster can get the correct public with people willing to pay 100, 200, 500$ an hour of coaching, things change.
This is the reason why is so relative, there are millions of ways (some of them you can’t even imagine) of making money as a chess grandmaster. A chess grandmaster’s salary will be defined by how good he is at selling his product and skills of course.
How to monetize chess skills?
Every skill you can think of can be monetized, you just need to find the public that needs the product. There are many ways to monetize chess, even if you are not a chess grandmaster.
Of course, when you have the grandmaster title, your chances of earning more money will increase dramatically. We have already discussed the different ways there are to earn money playing chess in this post.
However, the chess grandmaster salary goes further beyond that, a coach has possibilities an amateur doesn’t, for example:
- Playing in high-class tournaments: There are many tournaments with great prizes, and some of them are invitational tournaments. This means not every player can participate, not to mention the grandmasters-only events. The first place of any of these tournaments can earn 6000$ easily.
- Coaching: Anyone can coach actually, but when you are a grandmaster it gives you free advertisement and lots of credibilities.
- Presenting in chess clubs: This makes a good part of the chess grandmaster salary, giving lectures and classes on clubs. Like a chess grandmaster, I’m pretty sure chess foundations or clubs may want to hire you to give lessons. Even playing a simul can give a good amount of money.
There are also other ways to make money, these are the most common. As I said, they can give less or more money depending on the conditions.
Do you need to be a grandmaster to win money playing chess?
Actually, no, you don’t need to be a chess grandmaster to earn a living out of chess, but it is an advantage. If you want to play chess for money, there are other things you can do and don’t necessarily involve getting extremely good at chess.
A good way to give good money to those who have good charisma is to make videos for platforms like Twitch and YouTube.
Even great grandmasters like GM Hikaru Nakamura exploit this factor to the most. We will use this grandmaster as an example because is the most transparent and clear to see.
There is no definitive number of how much he earns monthly, nonetheless, is known that any chess streamer with little fame can earn up to 100.000$ a year!
Considering that Hikaru is one of the most known chess streamers there are, we’ll leave the calculation to you. When we ask: How much is a grandmaster’s salary? The response can fluctuate too much, there is no clear response to that.
Many factors influence and the difference is too great from one to another.
Are chess grandmasters rich?
Well, the income may look attractive, but I don’t think that is enough to become rich, with all the letters of the word. Of course, chess players can earn a decent wage per year, always looking for new opportunities and using their skills smartly.
A chess grandmaster salary is not to become rich, but the thing changes if we change the level of play. The top players of the world can make over 1 million dollars playing just one tournament.
The amount goes even higher if they get a decent result in the tournament, but this is just for the top 5 chess players of the world. However, the first 100 players of the world can also get over 100.000$ a year only by playing in tournaments.
You have to take into account that apart from playing the tournaments (and maybe winning them) they can do other things generating extra income. Most chess players also have a different way to make money apart from tournaments. For example Hikaru streams, Carlsen has an app, and so on.
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