MLB Player Salaries Surpass $5 Million Average for First Time

NEW YORK — Major League Baseball‘s average player salary rose above $5 million on Opening Day for the first time, reaching $5,160,245, marking a 3.6% increase from the previous season, according to a study by The Associated Press.

The New York Mets led MLB in payroll at $322.6 million, closely followed by the Houston Astros at $319.5 million. This season, the Mets’ spending remains significant, though it has decreased from their record $355.4 million in 2023. The team’s high spending is driven largely by Juan Soto‘s lucrative contract, which accounts for a substantial portion of their payroll.

Soto’s pay of $61.9 million this season surpasses the previous record of $43.3 million held by pitchers Max Scherzer and Justin Verlander, both under contracts with the Mets. According to the report, the Astros and the Mets collectively spent approximately five times the amount of the Oakland Athletics, whose payroll is the lowest at $64.9 million, ending the team’s three-year streak as the lowest spender.

While many teams increased their payroll significantly this season, some saw reductions. The Cincinnati Reds, recovering from a record-low performance, cut their payroll by $60.8 million. The San Francisco Giants, Miami Marlins, and St. Louis Cardinals also trimmed their budgets significantly.

Of the 953 players on Opening Day rosters, 526 earned $1 million or more. This statistic, however, shows a slight decline from last year’s figures, where 532 players earned at least $1 million. There were also 15 players earning $30 million or more, down by two from the previous season. The top 50 players comprise 29% of the total player salaries, maintaining the same percentage as the past two years.

Additionally, the median salary dipped to $1.35 million from $1.5 million, marking a significant decrease from the record median of $1.65 million in 2015. The average NFL salaries typically decline over the season as veteran players are released and replaced by younger players earning closer to the minimum.

In terms of spending by teams, the Los Angeles Dodgers ranked among the highest with a considerable payroll addition of $69 million from last year. Other significant increases included the Baltimore Orioles ($66 million), the Arizona Diamondbacks ($55 million), and the San Diego Padres ($47 million) among the top spenders.

According to the report, the Dodgers were impacted by deferred payments in their payroll calculations. Notably, Shohei Ohtani’s staggering salary will not be wholly paid until 2035, meaning his present-day value registers at $28.2 million, placing him as the 18th-highest-paid player.

As MLB teams finalize their rosters and budgets, the results underscore the evolving landscape of player salaries and spending, particularly in light of a robust offseason marked by significant player movements and contracts.