Denny Shute’s eagle on the par-5 16th hole in the final match of the 1936 PGA Championship at Pinehurst No. 2 secured a second career major and third career Ryder Cup berth. The 32-year-old Boston pro also won $1,000, which (pre-tax) would’ve been enough for a new 1936 Studebaker, bedroom furniture set, and a few months’ rent during the latter years of the Great Depression
After inflation adjustment, Shute in 2025 could’ve used the approximately $23,000 for a used 1936 Studebaker, bedroom furniture set, and a few months’ rent in Boston.
When the state of North Carolina most recently hosted the PGA Championship — at Quail Hollow in 2017 — winner Justin Thomas won $1.89 million, or more than the total winners’ earnings from the first 70 championships combined. Even when adjusted for present-day inflation, Thomas’ winnings ($2,472,412) were more than the first 47 tournaments combined.
PGA Championship Payout History for Winners
| Year | Winner | Winnings | 2025 Inflation |
|---|---|---|---|
| 1916 | Jim Barnes | $500 | $15,272 |
| 1919 | Jim Barnes | $500 | $9,626 |
| 1920 | Jock Hutchison | $500 | $8,229 |
| 1921 | Walter Hagen | $500 | $8,259 |
| 1922 | Gene Sarazen | $500 | $9,398 |
| 1923 | Gene Sarazen | $1,000 | $18,908 |
| 1924 | Walter Hagen | $1,000 | $18,362 |
| 1925 | Walter Hagen | $1,000 | $18,362 |
| 1926 | Walter Hagen | $1,000 | $17,746 |
| 1927 | Walter Hagen | $1,000 | $18,152 |
| 1928 | Leo Diegel | $1,000 | $18,362 |
| 1929 | Leo Diegel | $1,000 | $18,577 |
| 1930 | Tommy Armour | $1,000 | $18,577 |
| 1931 | Tom Creavy | $1,000 | $19,979 |
| 1932 | Olin Dutra | $1,000 | $22,214 |
| 1933 | Gene Sarazen | $1,000 | $24,625 |
| 1934 | Paul Runyan | $1,000 | $24,065 |
| 1935 | Johnny Revolta | $1,000 | $23,358 |
| 1936 | Denny Shute | $1,000 | $23,019 |
| 1937 | Denny Shute | $1,000 | $22,529 |
| 1938 | Paul Runyan | $1,100 | $24,608 |
| 1939 | Henry Picard | $1,100 | $24,959 |
| 1940 | Byron Nelson | $1,100 | $25,139 |
| 1941 | Vic Ghezzi | $1,100 | $24,782 |
| 1942 | Sam Snead | $1,000 | $20,233 |
| 1944 | Bob Hamilton | $3,500 | $63,899 |
| 1945 | Byron Nelson | $3,750 | $66,925 |
| 1946 | Ben Hogan | $3,500 | $61,090 |
| 1947 | Jim Ferrier | $3,500 | $51,713 |
| 1948 | Ben Hogan | $3,500 | $46,913 |
| 1949 | Sam Snead | $3,500 | $46,327 |
| 1950 | Chandler Harper | $3,500 | $47,312 |
| 1951 | Sam Snead | $3,500 | $43,773 |
| 1952 | Jim Turnesa | $3,500 | $41,956 |
| 1953 | Walter Burkemo | $5,000 | $59,712 |
| 1954 | Chick Harbert | $5,000 | $59,046 |
| 1955 | Doug Ford | $5,000 | $59,488 |
| 1956 | Jack Burke Jr. | $5,000 | $59,266 |
| 1957 | Lionel Hebert | $8,000 | $92,078 |
| 1958 | Dow Finsterwald | $5,500 | $61,090 |
| 1959 | Bob Rosburg | $8,250 | $90,371 |
| 1960 | Jay Hebert | $11,000 | $119,262 |
| 1961 | Jerry Barber | $11,000 | $117,261 |
| 1962 | Gary Player | $13,000 | $137,657 |
| 1963 | Jack Nicklaus | $13,000 | $135,846 |
| 1964 | Bobby Nichols | $18,000 | $185,051 |
| 1965 | Dave Marr | $25,000 | $254,544 |
| 1966 | Al Geiberger | $25,000 | $249,741 |
| 1967 | Don January | $25,000 | $241,391 |
| 1968 | Julius Boros | $25,000 | $232,896 |
| 1969 | Raymond Floyd | $35,000 | $312,316 |
| 1970 | Dave Stockton | $40,000 | $336,159 |
| 1971 | Jack Nicklaus | $40,000 | $319,267 |
| 1972 | Gary Player | $45,000 | $347,814 |
| 1973 | Jack Nicklaus | $45,000 | $335,567 |
| 1974 | Lee Trevino | $45,000 | $306,763 |
| 1975 | Jack Nicklaus | $45,000 | $274,379 |
| 1976 | Dave Stockton | $45,000 | $257,107 |
| 1977 | Lanny Wadkins | $45,000 | $244,362 |
| 1978 | John Mahaffey | $50,000 | $254,136 |
| 1979 | David Graham | $60,000 | $279,066 |
| 1980 | Jack Nicklaus | $60,000 | $244,990 |
| 1981 | Larry Nelson | $60,000 | $219,083 |
| 1982 | Raymond Floyd | $65,000 | $218,967 |
| 1983 | Hal Sutton | $100,000 | $324,816 |
| 1984 | Lee Trevino | $125,000 | $389,684 |
| 1985 | Hubert Green | $125,000 | $376,387 |
| 1986 | Bob Tway | $145,000 | $420,276 |
| 1987 | Larry Nelson | $150,000 | $428,513 |
| 1988 | Jeff Sluman | $160,000 | $439,303 |
| 1989 | Payne Stewart | $200,000 | $524,642 |
| 1990 | Wayne Grady | $225,000 | $561,035 |
| 1991 | John Daly | $230,000 | $542,825 |
| 1992 | Nick Price | $280,000 | $644,083 |
| 1993 | Paul Azinger | $300,000 | $668,312 |
| 1994 | Nick Price | $310,000 | $673,584 |
| 1995 | Steve Elkington | $360,000 | $760,888 |
| 1996 | Mark Brooks | $430,000 | $884,705 |
| 1997 | Davis Love III | $470,000 | $938,437 |
| 1998 | Vijay Singh | $540,000 | $1,061,524 |
| 1999 | Tiger Woods | $630,000 | $1,218,093 |
| 2000 | Tiger Woods | $900,000 | $1,693,743 |
| 2001 | David Toms | $936,000 | $1,698,115 |
| 2002 | Rich Beem | $990,000 | $1,775,800 |
| 2003 | Shaun Micheel | $1,080,000 | $1,888,193 |
| 2004 | Vijay Singh | $1,125,000 | $1,929,696 |
| 2005 | Phil Mickelson | $1,170,000 | $1,949,004 |
| 2006 | Tiger Woods | $1,224,000 | $1,960,813 |
| 2007 | Tiger Woods | $1,260,000 | $1,977,439 |
| 2008 | Padraig Harrington | $1,350,000 | $2,031,721 |
| 2009 | Y.E. Yang | $1,350,000 | $2,031,115 |
| 2010 | Martin Kaymer | $1,350,000 | $1,979,148 |
| 2011 | Keegan Bradley | $1,445,000 | $2,084,408 |
| 2012 | Rory McIlroy | $1,445,000 | $2,025,167 |
| 2013 | Jason Dufner | $1,445,000 | $1,993,375 |
| 2014 | Rory McIlroy | $1,800,000 | $2,444,500 |
| 2015 | Jason Day | $1,800,000 | $2,446,686 |
| 2016 | Jimmy Walker | $1,800,000 | $2,413,546 |
| 2017 | Justin Thomas | $1,890,000 | $2,472,412 |
| 2018 | Brooks Koepka | $1,980,000 | $2,537,605 |
| 2019 | Brooks Koepka | $1,980,000 | $2,498,842 |
| 2020 | Collin Morikawa | $1,980,000 | $2,438,214 |
| 2021 | Phil Mickelson | $2,160,000 | $2,623,152 |
| 2022 | Justin Thomas | $2,700,000 | $3,050,748 |
| 2023 | Brooks Koepka | $3,150,000 | $3,344,799 |
| 2024 | Xander Schauffele | $3,330,000 | $3,429,916 |
Photo Credits: Hagen (AP Photo), Shute (AP Photo), Hamilton (AP Photo/John Lindsay), Finsterwald (AP Photo), Nicklaus (AP Photo), Mahaffey (AP Photo/Paul Vathis), Daly (AP Photo/Tom Strattman), Woods (AP Photo/Michael Conroy), Micheel (AP Photo/David J. Phillip), Yang (AP Photo/Morry Gash), McIlroy (AP Photo/Lynne Sladky), Morikawa (AP Photo/Jeff Chiu), Schauffele (AP Photo/Jeff Roberson)
