Major League Baseball’s average salary broke the $5 million barrier on opening day for the first time, according to a study by the Associated Press. The average rose 3.6% to $5,160,245. That was up from a 1.5% increase last year but down from an 11.1% increase in 2023.
Baseball’s median salary, the point at which an equal number of players are above and below, dropped to $1.35 million from $1.5 million and well below the record high of $1.65 million at the start of 2015.
Average and median salaries decline over the course of the season as veterans are released and replaced by younger players making closer to the minimum. The AP’s average was $4.98 million at the start of last season; MLB calculated the final average at $4.59 million and the players’ association at $4.66 million.
Payroll figures factor in adjustments for cash transactions in trades, signing bonuses that are the responsibility of the club agreeing to the contract, option buyouts and termination pay for released players.
