AUGUSTA, Ga. — The Masters has raised its prize money by $1 million for this year, making the total purse $21 million with $4.2 million going to the winner.

The winner also gets something he might find more valuable: a Masters green jacket.

Scottie Scheffler won $3.6 million last year.

The Masters will pay $52,920 to 50th place and incrementally less to the other three players below that who made the cut.

The Masters also pays professionals $25,000 even if they miss the cut. The U.S. Open last year began paying professionals $10,000 if they missed the cut.

Prize money at the four majors has been increasing in small amounts over the last several years. Ten years ago, Jordan Spieth earned $1.8 million for his Masters victory when the total prize fund was $10 million.

The Players Championship remains the richest tournament with a $25 million purse, with $4.5 million won by Rory McIlroy last month. The PGA Tour goes to the RBC Heritage in South Carolina next week with a $20 million purse ($3.6 million for the winner) as a signature event.