NEW YORK — According to the players’ association’s yearly report, Major League Baseball’s average salary saw a modest increase of 2.9% last year, reaching an all-time high of $4.66 million.
This average figure of $4,655,366 represents an increase from $4,525,719 in 2023, which had experienced a more significant uptick of 7% compared to 2022.
Following a dip to $3.68 million in 2021, a year after the league dealt with a shortened pandemic season, the average salary surged by 23% over the next two years.
The statistics provided by the players’ union account for the 2024 salaries, along with earned bonuses and prorated signing bonuses for a total of 1,033 players listed on active rosters and injured lists as of August 31, prior to any roster expansions for the latter part of the season.
This report coincided with the commencement of salary arbitration hearings this week.