“American Idol” is one of the oldest singing competition shows.

At just 15 years old, you’re able to audition and have your dreams come true.

The winner walks away with $250,000 and a record deal with Hollywood Records/19 Recordings.

The American Idol judges

During the recording process, the artist receives $1,000 weekly and another grand for each completed song.

They also have up to $300,000 for expenses related to the album’s completion.

However, those funds are deducted from any of the record’s profits.

Iam Tongi and James Blunt duet

Those who make it far in the contest do make money.

However, traveling the States and singing for America is not cheap.

The double dozen get paid for their performances by the American Federation of Television and Radio Artists.

Top 12 contestants performing

The compensation is based on the episode’s run time.

However, they need to be AFTRA members, which has a $1,600 joiner fee.

Apart from the talent competition episodes, there is an American Idol Live tour for the top 12.

Four to five months of touring equates to $150,000.

Of course, that’s only for the few top participants who endure the competition.

They also get money for albums and shooting the Ford commercials."

It pays off to have an angelic voice.

And these pay cuts aren’t the only way Idol contestants are compensated.

The top 12 singers receive a $450 stipend for wardrobe and speak with a fashion consultant.

It might sound like a nice shopping spree, but it is easy to blow in expensive Hollywood boutiques.

The best 12 also have room and board taken care of.

Typically, contestants share rooms.

Suppose your roomie doesn’t win America’s vote, that doesn’t leave you with a single.

The number of rooms is cut with the competition pool, and it’s not always five-star boarding.

It’s nothing fancy, but it’s not squalor."

It’s not a lucrative business, but making it to the top 12 and beyond has its payoff.

Just askprosperous “American Idol” starsJordan Sparks, Carrie Underwood, and Kelly Clarkson.