Mike 'The Situation' Sorrentino To Earn $5 Million

(CANVAS STAFF REPORTS) - Mike "The Situation" Sorrentino is making his 15 minutes of fame work for him.

The "Jersey Shore" star is set to earn more than $5 million this year, according to The Hollywood Reporter .

How does a reality TV star end up with a multimillion dollar payday?

Sorrentino's manager, Mike Petolino of Gotham Entertainment said, "We are really excited about all the opportunities coming Mike's way. He has been able to secure many endorsement deals, business opportunities and additional television offers based on the success of the show. Our goal has always been to try to build a brand if the situation presented itself."

The Situation has endorsement deals with Reebok and Vitamin Water to start, The Hollywood Reporter reported. Add to that the nearly $60,000 per episode salary he is reportedly getting after bonuses, a book deal for an autobiography, personal appearances earning him from $15,000-$50,000 and an ab-workout video, it's easy to see how the dollars are adding up.

And that's not all of it.

Sorrentino has trademarked his "GTL" phrase (which stands for "Gym, Tan, Laundry"). That means whatever "GTL" appears on, he gets royalties. Plus, MTV has put out a "Jersey Shore" quote book that also benefits Sorrentino.

Other castmates of "Jersey Shore" are profiting, too.

The New York Post reported that Nicole "Snooki" Polizzi earns up to $20,000 for personal appearances, and Paul "Pauly D" DelVecchio is bringing in up to $80,000 per week for his DJ jobs. This is all of course on top of what they are making from the show.

Petolino told The Hollywood Reporter that Sorrentino is taking control of the situation by being involved in all of his business dealings.

It seems to be benefiting "The Situation" very well.