In 2021, former professional caddie Michael Collins went of the Green Light podcast where he spoke about the payment structure for caddies. Apparently it's somewhat flexible in the sense that there are no contracts, which honestly sounds very unstable. First and foremost, caddies pay for all of their own expenses which includes but isn't limited things like airfare, hotels, rental cars, and meals. This comes out of a weekly paycheck they get from each player.
Secondly, they have the opportunity to take home a percentage of what the player wins if they make the cut. The caddie gets 10 percent of the winner's purse, 7 percent if the player is in the top five, and 5 percent for everything else. However, the caddie and the player can choose to adjust this. For example, Michael said they can suggest taking home a bigger weekly paycheck and cutting the percentage on the backend.
To help put this into perspective, we checked out a very helpful breakdown of the 2022 Masters assembled by the Caddie Daddie, a name we simply can't get enough of. The year's winner, Scottie Scheffler, snagged a whopping $2,700,000. His caddie Ted Scott received $270,000, which is of course 10 percent.