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Nobel Prize 2016 Winners: How to Win Nobel Prize & How Much Do They Win?
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Nobel Prize 2016 Winners: How to Win Nobel Prize & How Much Do They Win?

Just a few days left before all Nobel Prize 2016 winners are announced and given to deserving men and women whose achievements paved way for progress in science, but more so in society.

It is one of the greatest honors for any human to receive the prestigious Nobel Prize. But how does one receive the coveted award? How much is the reward and who are the awardees for Nobel Prize 2016?

According to Nobel Prize’s official website,, the Nobel Prize started “On 27 November 1895, a year before his death, Alfred Nobel signed the famous will which would implement some of the goals to which he had devoted so much of his life. Nobel stipulated in his will that most of his estate, more than SEK 31 million (today approximately SEK 1,712 million) should be converted into a fund and invested in ‘safe securities.'”

Nobel Prize 2016: How to Win It and Who Won This Year?

Those who are awarded the Nobel Prize, in a nutshell are “Those who during the preceding year have conferred the greatest benefit to mankind,” and the fields included are Physics, Chemistry, Medicine, Literature, Peace and Economic Science.

Nominations are done through a panel wherein “Thousands of members of academies, university professors, scientists, previous Nobel Laureates and members of parliamentary assemblies and others, are asked to submit candidates for the Nobel Prizes for the coming year.”

Nominations are done every September of the year. However, no one can nominate themselves. 

They are divided into four prize awarded institutions: Prize Awarder for the Nobel Prizes in Physics and Chemistry and the Prize in Economic Sciences (The Royal Swedish Academy of Sciences); Prize Awarder for the Nobel Prize in Physiology or Medicine (The Nobel Assembly at Karolinska Institutet); Prize Awarder for the Nobel Prize in Literature (The Swedish Academy); and Prize Awarder for the Nobel Peace Prize (The Norwegian Nobel Committee).

Interestingly, the names of the Nobel Prize nominees will not be revealed until 50 years later.

The Nobel Prize 2016 amount to be received by an awardee is SEK (Swedish Kroner) 8 Million or $930,292.00. Each year, the amount changes and you can see how much it has changed over the years through this table.

The schedule for release of Nobel Prize 2016 awardees are:

The Nobel Prize in Physics 2016- Tuesday 4 October, 11:45 a.m. CET at the earliest.

The Nobel Prize in Chemistry 2016- Wednesday 5 October, 11:45 a.m. CET at the earliest.

The Nobel Prize in Literature 2016- The date will be set later.

The Nobel Peace Prize 2016- Friday 7 October, 11:00 a.m. CET.

The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2016- Monday 10 October, 11:45 a.m. CET at the earliest.

However, one has already been announced. The Nobel Prize in Physiology or Medicine 2016 went to Yoshinori Ohsumi “for his discoveries of mechanisms for autophagy.” He “discovered and elucidated mechanisms underlying autophagy, a fundamental process for degrading and recycling cellular components.”


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