As one of the biggest sports leagues in America with TV viewers reaching into the millions, Major League Baseball can afford to pay its players handsomely. The average salary for a player in the MLB stood at 4.98 million U.S. dollars in 2024. This marks a twofold increase on the average salary in 2005.
Highs and lows of MLB salaries
While the stars of every MLB team take home millions every year, there is still a minimum player salary in place to ensure that all players are compensated for their efforts. The 2024 MLB minimum player salary was set at 740 thousand U.S. dollars, a significant increase on the minimum of 300 thousand U.S. dollars in 2003.
The league’s top earners
The highest earner in the MLB in 2024 was the starting pitcher for the Los Angeles Dodgers, Shohei Ohtani. The three-time All-Star took home an annual base salary of 70 million U.S. dollars in the 2024 season. Due to their prominent role on the team, it is unsurprising that a majority of the top earners in the MLB were pitchers.
Average player salary in Major League Baseball from 2003 to 2024
(in million U.S. dollars)
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AP. (April 8, 2024). Average player salary in Major League Baseball from 2003 to 2024 (in million U.S. dollars) [Graph]. In Statista. Retrieved November 10, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/236213/mean-salaray-of-players-in-majpr-league-baseball/
AP. "Average player salary in Major League Baseball from 2003 to 2024 (in million U.S. dollars)." Chart. April 8, 2024. Statista. Accessed November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/236213/mean-salaray-of-players-in-majpr-league-baseball/
AP. (2024). Average player salary in Major League Baseball from 2003 to 2024 (in million U.S. dollars). Statista. Statista Inc.. Accessed: November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/236213/mean-salaray-of-players-in-majpr-league-baseball/
AP. "Average Player Salary in Major League Baseball from 2003 to 2024 (in Million U.S. Dollars)." Statista, Statista Inc., 8 Apr 2024, https://www-statista-com.ezproxy.canberra.edu.au/statistics/236213/mean-salaray-of-players-in-majpr-league-baseball/
AP, Average player salary in Major League Baseball from 2003 to 2024 (in million U.S. dollars) Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/236213/mean-salaray-of-players-in-majpr-league-baseball/ (last visited November 10, 2024)
Average player salary in Major League Baseball from 2003 to 2024 (in million U.S. dollars) [Graph], AP, April 8, 2024. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/236213/mean-salaray-of-players-in-majpr-league-baseball/
