The official ceremony granting the award takes place every year, usually in May, at an architecturally significant site throughout the world. The choice of location of the ceremony reinforces the importance of the built environment while providing a unique setting for the ceremony. The presentation ceremonies move around the world each year, paying homage to the architecture of other eras and/or works by previous laureates of the prize. As the ceremony locations are usually chosen each year before the laureate is selected, there is no intended connection between the two.
The invitation-only event is attended by international guests and guests from the host country. The ceremony itself normally consists of welcoming remarks usually from a dignitary of the host country; comments from the jury chairman; the presentation of the prize by Tom Pritzker; and an acceptance speech from the Laureate.
The laureate receives $100,000 and also a bronze medallion. The bronze medallion awarded to each Laureate of the Pritzker Architecture Prize is based on designs of Louis Sullivan, famed Chicago architect generally acknowledged as the father of the skyscraper. On one side is the name of the prize. On the reverse, three words are inscribed, “firmness, commodity and delight,” recalling Roman architect Vitruvius' fundamental principles of architecture of firmitas, utilitas, venustas.