MLB Average Salary Surpasses $5 Million, Mets Lead Payroll Spending

A recent study by The Associated Press has revealed that Major League Baseball's average salary reached a historic milestone, exceeding $5 million for the first time on Opening Day. The New York Mets, fueled by Juan Soto's record-breaking $61.9 million salary, topped the league's payroll at $322.6 million, closely followed by the Los Angeles Dodgers at $319.5 million. This marked the Mets' third consecutive year leading the league in spending, with both teams significantly outspending the lowest payroll team, the Miami Marlins at $64.9 million. While the average salary saw a 3.6% increase to $5,160,245, the Mets' overall spending decreased from their record high in 2023.

The Dodgers saw the largest payroll increase, adding $69 million from the previous year, driven by acquisitions like Blake Snell and Shohei Ohtani. However, Ohtani's deferred contract significantly reduced his present-day value for payroll calculations. Conversely, the Chicago White Sox experienced the largest payroll reduction, cutting $60.8 million. The study also highlighted the disparity in player earnings, with the top 50 players accounting for 29% of the total salaries. The median salary dropped to $1.35 million, indicating a widening gap between the highest-paid stars and the rest of the league. Despite fluctuations in team spending and player earnings, the overall trend reflects a continued rise in MLB player salaries.