How to PGA players get paid?

[MidwestGolfBum]

[quote name='Matt J' timestamp='1427219154' post='11206089']
I'm sure the time of the actual wire is stipulated in the contract. Sounds like it might be early am on Monday. Never known a tour pro, but have known a few NFL players and it's very specific. Lots of interest accruing with all those zeros.
[/quote]

I'm sure it's all very well written out, this is business after all. Having asked one of the guys that I sponsored last fall for some mini tour stuff, he always mentioned that he would get paid in 1-2 days after the event, not sure how it works as the numbers and tours get bigger, but I would guess there isn't a ton of change.

[lablover]

Wires go out on Monday and prize money typically hits the accounts on Tues. night/Weds. morning. Regardless of the amount of prize money won it works the same. So, someone gets roughly $1M put in their account each week.

[Reds]

[quote name='Matt J' timestamp='1427219154' post='11206089']
I'm sure the time of the actual wire is stipulated in the contract. Sounds like it might be early am on Monday. Never known a tour pro, but have known a few NFL players and it's very specific. Lots of interest accruing with all those zeros.
[/quote]

Another thing thats weird is NFL players only get paid in season. Baseball players are paid throughout the entire year. I was around professional baseball as a kid. My cousin was the pitching coach for the Reds and he said they get a check every 2 weeks like most people. Only difference was when on the road each player/coach got 120$ meal money every day. One of the front office people would pass out envelopes on the plane to all the guys for there meal money on the road trip. My cousin said if they had a 9 game road trip that the $1080 bucks would be gambled away by the time they reached their destination. What a life.

[f22beaver]

Are players independent contractors or something like that? What I'm getting at, does the Tour do withholdings and all that good stuff that our employers normally do? Life insurance deductions, HSA contributions, etc? I like to think their lives suck a little bit like ours.

[lablover]

[quote name='f22beaver' timestamp='1427332381' post='11216931']
Are players independent contractors or something like that? What I'm getting at, does the Tour do withholdings and all that good stuff that our employers normally do? Life insurance deductions, HSA contributions, etc? I like to think their lives suck a little bit like ours.
[/quote]

Yes, they're independent contractors not technically "employed" by the TOUR. No deductions for health care or life insurance. Health care premiums are billed separately, and there's no life insurance plan on TOUR. It's up to players to get their own life insurance/Aflac or extra disability insurance/body part insurance (Lloyd's of London), etc.

[Holy Moses]

[quote name='pingman35awg' timestamp='1427313275' post='11214859'][quote name='Matt J' timestamp='1427219154' post='11206089']
I'm sure the time of the actual wire is stipulated in the contract. Sounds like it might be early am on Monday. Never known a tour pro, but have known a few NFL players and it's very specific. Lots of interest accruing with all those zeros.
[/quote]

Another thing thats weird is NFL players only get paid in season. Baseball players are paid throughout the entire year. I was around professional baseball as a kid. My cousin was the pitching coach for the Reds and he said they get a check every 2 weeks like most people. Only difference was when on the road each player/coach got 120$ meal money every day. One of the front office people would pass out envelopes on the plane to all the guys for there meal money on the road trip. My cousin said if they had a 9 game road trip that the $1080 bucks would be gambled away by the time they reached their destination. What a life.[/quote]

I never understood why MLB players get meal money making $5 million average. Either way, the meal money usually all goes to the clubhouse guys anyway who get tipped after each new series.

[lumberman2462]

Locker room attendant at Valhalla told me that he made more money during the week the PGA is played there than he has in any entire year.

Apparently insane amounts of cash are carried around by some pros.