The disparity between men’s and women’s golf is an undeniable fact. However, after a thorough investigation of the matter, our team discovered some interesting findings.
We compared the purse sizes of the major tournaments of Men’s and Women’s golf for the past seven years and found an intriguing pattern.
In our analysis, we discovered the purse size of both Men’s and Women’s golf is growing. However, the growth rate of Women’s Tournaments is much higher than their male counterparts.
The Research On LPGA Purse
The rationale behind our study was to analyze the magnitude of the gap between Men’s and Women’s golf. Our goal was to pinpoint whether this gap was increasing or decreasing.
We chose the purse size of Major tournaments of Men’s and Women’s golf as a criterion for comparison. We scrutinized the purse sizes of 4 major tournaments of Men’s golf and five major tournaments of Women’s golf from 2013 to 2021.
After a thorough analysis, we concluded that women’s golf is catching up to men’s golf much faster than expected. The growth rate of major Women’s golf tournaments is nearly 50% more than their male counterparts.
Methodology On LPGA Purse Research
The tournament purse size of both men’s and women’s golf increases after every few years. However, this rate is not uniform. In some years, the increment is substantial, while in others, it is negligible.
Also, there is a vast inconsistency in the growth rate of different tournaments. In some tournaments, the purse size is growing at a much faster rate than expected, and in others, not so much.
So, to balance the inconsistencies in different tournaments and years they were held, we have taken an average of the growth rate. We used simple excel formulas to calculate the total increment in the purse sizes. We also converted the growth rate into Compounded Annual Growth Rate (CAGR) using the RRI formula.
Detailed Observations – LPGA Purse Increases
Our team compiled the tournament’s purse sizes of all the major tournaments of men’s and women’s golf from 2013 to 2021. Here is a comprehensive table of the same. We have highlighted the average growth rate for better clarity.
Here we can see that the average total increment in the women’s tournaments purse size is 61%. This means from 2013 to 2021, the purse size of major women’s tournaments has risen by an average of 61%. While the same for men is merely 46%.
Furthermore, we converted the inconsistent year-on-year growth rate into CAGR by using the RRI formula.
After the conversion, we can see the CAGR for women’s golf is nearly 6%. While the same for men is only 4.33%.
This clearly implies that at this rate, the purse size of men’s and women’s golf will be comparable to one another in a few years.
The Peculiar Case of the PGA Championships
Some very unusual patterns emerged during our analysis. The most surprising one is the difference in the growth rate of the two PGA championships.
In the table, we can see that the Women’s PGA championship purse size has nearly doubled, growing at a CAGR of 8.43%. This growth rate is the highest among all the major women’s tournaments.
On the other hand, the purse size of the Men’s PGA championship has grown by only 37.5%, growing at a CAGR of 3.6%. Interestingly, this is the lowest growth rate among the men’s major golf tournaments.