Does the Heisman Trophy Winner Get Paid? Details on the Prestigious Football Award

There are no awards in college football more prestigious than the Heisman Trophy. The winner of that award is typically one of the highest draft picks in a coming NFL draft, and it also comes with a variety of other honors — but is that it, or is there any financial benefit to winning the Heisman?

The Heisman is an old award, dating back decades, and its prestige is so well-known that every athlete wants to win it. Here's what we know about whether the winner gets paid.

The Heisman Trophy comes with an incredible amount of publicity, but it doesn't come with any cash prize. That does not mean that the trophy does not come with any financial benefits, though. Winning the award can open up sponsorship and endorsement deals and it also bolsters your position as you enter your professional career. While it doesn't guarantee you will be successful in the pros, it's a good sign.

Jayden Daniels, who won the award in 2023, was drafted second overall by the Washington Commanders and signed a four-year contract worth $37,746,650 including a $24,272,108 signing bonus. He also signed endorsement deals with Dr. Dre, Powerade, and Raising Cane's, which seems to prove that the Heisman can raise your profile and help you make money, even if you don't get any money just for winning the award.

This year's Heisman winner has been narrowed down to four finalists: CB/WR Travis Hunter, Oregon QB Dillon Gabriel, Boise State RB Ashton Jeanty, and Miami QB Cam Ward. Most people who follow the award closely believe that the race is really between Hunter and Jeanty. Hunter has, throughout his college career, done something that no other player has done at this level in playing both cornerback and wide receiver.

Jeanty, meanwhile, accumulated 2,288 rushing yards and 28 touchdowns throughout the regular season, which ranks fifth in the NCAA single-season record books. This year's winner will be announced during a ceremony on Dec. 14. There has been plenty of speculation about who might win. While quarterbacks are often favorites for the award, they don't win it every time, and this year, neither of the two favorites plays that position.

Whoever wins the award, both Jeanty and Hunter seem destined to be first-round picks in the coming NFL draft. Hunter is considered one of the very best prospects in the draft and is predicted to go early to a team that doesn't need a quarterback. The value of running backs in the NFL is still in question, but Jeanty's skills should mean that he'll also go quite high.

Whoever wins the Heisman this year, it's clear that the award will be a boon to their already glistening resumes. It doesn't come with a cash prize, but the prestige that it gets you might be worth more than the cash prize could ever get you anyway.