It's good money but you don't make that amount of money for long, and if you retire at the age of 40 or so, then what are you going to do?? Hopefully they have that figured out.
The true "stars of the sport", Mr O's and consistent top 5 contenders
might have up to an 8 or 10 year run where they're making several hundred thousand dollars a year.
If they're smart, and put it away and invest it, they can retire with a couple million invested and live off the returns. (of course, all bets are off if the dumbasses spend it on "bling" and Bentleys).
The rest of the IFBB pros, even the ones who are hot for a few years, only make enough to support themselves and their lifestyle for the few years they're making money, and when they're done, they're done! No money in the bank, and no visible means of supporting themselves.