Rio Olympics 2016: Cash up for grabs for top athletes

The members of the women's sevens side who claimed silver will collectively be able to put their hands up for $660,000. Photo / AP

Kiwi athletes are set to cash in on top achievements in Rio, receiving about twice as much as what their American counterparts will get.

High Performance Sport provides financial incentives for New Zealand Olympians, with gold medallists receiving $60,000 for reaching the pinnacle of their sport.

The money is delivered in the form of a taxpayer-funded Performance Enhancement Grant and they are available for placings all the way down to 12th.

Silver and bronze medallists are entitled to $55,000, fourth to sixth get $47,500, seventh to eighth receive $40,000 and ninth to 12th are in line for $30,000.

The funding is available for each athlete who earns a medal, meaning the 12 members of the women's sevens side who claimed silver will collectively be able to put their hands up for $660,000.

According to AL.com, US gold medal winners receive NZ$35,000, silver $21,000, and bronze $14,000.

Both rewards pale in comparison to the $100,000 Vietnamese air pistol shooter Hoang Xuan Vinh will pocket after winning his country's first ever gold, according to AFP.

The money will come from the state once he returns, and dwarfs the average income of the country's population which is $2100.

The amount on offer for Kiwi athletes is similar to what was paid to top achievers at the 2012 Games in London.