<p>Many real life competitions feature multi-dimensional prizes. We develop a model where two players with asymmetric preferences engage in a contest game. The key novelty is the introduction of multi-dimensional rewards. We characterize the optimal prize allocation that maximizes aggregate effort. When heterogeneity in preferences is strong and the designer cannot assign identity-dependent prizes, the loser must get a positive reward, which is in stark contrast to the existing literature. Such allocation eliminates the advantage of the stronger competitor and incentivizes the opponent to exert more effort (the <i>equilibrium effect</i>). Applying the model to the data from professional tennis competitions where prizes consist of money and the ATP ranking points, we provide empirical evidence that highlights the importance of multi-dimensional incentives in contests.</p>