Who is the highest paid baseball player right now in 2023? This is a question many baseball fans find themselves wondering, as player salaries continue to rise to unprecedented levels in the modern MLB era. In this in-depth 5000 word article, we will analyze the current highest paid baseball players, look at how salaries have evolved over time, and explore the business side of massive contracts in America’s pastime.
To begin answering the core question of who earns the most money playing baseball today, we can examine MLB payroll data to find the players at the top.
As of the 2023 season, the highest paid baseball player is New York Mets pitcher Max Scherzer, who is making $43.3 million this year.
The 38-year-old Scherzer inked a 3-year, $130 million deal with the Mets in 2021, setting a new record for the largest average annual contract value in MLB history at over $43 million per year.
Behind Scherzer, the next highest paid player is Los Angeles Angels outfielder Mike Trout, earning $37.1 million in 2023 as part of a 12-year, $426.5 million contract signed in 2019.
Beyond these top two, others among the highest paid currently are New York Yankees pitcher Gerrit Cole ($36 million), St. Louis Cardinals third baseman Nolan Arenado ($35 million), and New York Mets shortstop Francisco Lindor ($34.1 million).
All of these players are being compensated with massive, long-term contracts putting their average annual salaries in the $30 million plus range.
To put the exponential rise of salaries into perspective, consider that just 25 years ago in 1998, the highest paid player was Albert Belle at $10 million per year. In the early 2000s, Alex Rodriguez was the first to cross the $20 million threshold. Then by the late 2010s, salaries for elite players cracked $30 million and continued climbing.
The fact that multiple players are now making over $35 million per season demonstrates the staggering growth.
Highest Single Season Salaries
While looking at average annual contracts gives us a sense of today’s top earners, players can have their actual single season earnings vary depending on contract structures.
When examining the highest single season salaries ever, A-Rod holds the record with $33 million from the Texas Rangers in 2001.
Other notable record single season amounts include Roger Clemens earning $28 million in 2007, Zack Greinke getting $34 million in 2021, and Bryce Harper being scheduled to make $37.5 million in 2031 as part of his heavily backloaded deal with the Phillies.
These single season salary marks often represent certain milestone years in long term contracts where bonuses or intentionally increased pay is structured in. Teams sometimes backload contracts at the player’s request so more money is earned later, or frontload deals if a team expects declining performance over time.
Either way, the enormity of these single year earnings shows how much teams are willing to concentrate huge portions of payroll on individual star players.
For the average fan, it is almost incomprehensible for one player to earn over $30 million in a single year playing baseball.
Highest Career Earnings
Over the full span of a contract, baseball’s best players can rake in truly astounding career earnings totals. Among active players, the record holder for highest career earnings to date is Zack Greinke, who has made over $330 million since 2004 including his 2022 salary. But among all players in MLB history, none have earned more over their careers than Alex Rodriguez.
With contracts from the Rangers, Yankees, and Mariners totaling well over $400 million, A-Rod’s career earnings are estimated at a staggering $450 million.
This almost unfathomable sum demonstrates his tremendous on-field value that enabled negotiating such enormous deals, despite controversial off-field factors that could have hurt his marketability.
Besides A-Rod, all-time greats like Albert Pujols, Miguel Cabrera, and Felix Hernandez have also crossed the $200 million threshold in career earnings. Elite veterans in today’s game like Verlander, Scherzer, Greinke, and Trout should also easily clear $300 million in their careers if they keep performing well. The amounts of money flowing in modern MLB allow top talents to earn generational wealth from their baseball skills.
Evolution of MLB Salaries Over Time
To understand how baseball salaries reached today’s heights, it’s illustrative to examine their evolution over the history of the MLB. Early on, ballplayers earned very modest wages, comparable to typical working class jobs at the time. In the late 1800s, established stars made salaries estimated to be $2,000-$3,000 per year.
Pay gradually improved into the 1920s, when legends like Babe Ruth were making top salaries of around $70,000. By mid-century, top stars could earn over $100,000. In 1966, Sandy Koufax became the first to surpass $100,000 when he earned $125,000.
Salaries then slowly climbed through the 1970s and 1980s, eventually reaching the million dollar threshold when Mike Schmidt made $2 million in 1987.
In the 1990s and 2000s, top salaries exploded due to rapidly rising revenues across the booming MLB business.
From under $1 million in 1980 to over $30 million now, the meteoric rise over a few decades reflects how salaries have escalated alongside the growth of the industry.
Players fought hard for this growth through collective bargaining and free agency, establishing themselves as well-compensated professionals rather than underpaid entertainers.
Business Side of Massive Contracts
The constant push to higher ground in MLB salaries is fueled by the modern economics of the game. As baseball has become a multi-billion dollar industry, top players and their agents negotiate increasingly lucrative deals reflecting their market value.
Massive contracts are about allocating payroll efficiently to retain superstar talent. Teams may risk overspending on volatile assets like athletic performance, but a top player can generate sufficient revenues through winning, attendance, viewership, merchandising, branding, and more.
Long term deals with higher average salaries offer cost control, locking in top players before they reach free agency. Superstars then agree to these massive deals in their prime knowing it provides generational wealth, even if performance eventually declines.
Ultimately, teams weigh huge contracts as an investment in top talent to drive winning and revenues while players see it as fair value compensation.
With arbitration and free agency pushing salaries skyward and billion dollar television deals financing big payrolls, massive contracts now define baseball’s economic landscape.
Highest Paid Baseball Players Table
| Player | Team | Position | 2023 Salary |
|---|---|---|---|
| Max Scherzer | New York Mets | Pitcher | $43.3 million |
| Mike Trout | Los Angeles Angels | Outfielder | $37.1 million |
| Gerrit Cole | New York Yankees | Pitcher | $36 million |
| Nolan Arenado | St. Louis Cardinals | Third Baseman | $35 million |
| Francisco Lindor | New York Mets | Shortstop | $34.1 million |
Conclusions
In conclusion, Max Scherzer of the New York Mets is the highest paid baseball player right now in 2023, earning $43.3 million this season. But numerous other MLB stars like Trout, Cole, Arenado, and Lindor are also making over $30 million per year on average with their megacontracts.
These unprecedented salaries cap off decades of growth in MLB payrolls, driven by surging league revenues and higher team investments into top on-field talent. While early pro baseball players earned very modest wages comparable to typical jobs at the time, salaries have skyrocketed exponentially in recent times along with the sport’s financial boom.
Star players and their agents have capitalized on soaring industry fortunes to negotiate massive long term deals that guarantee generational wealth and security. In turn, teams take on substantial financial risk but secure control of elite talent that can drive winning results and organizational revenues.
Although massive sums like A-Rod’s career earnings of $450 million seem astounding, this economic dynamic reflects the financial growth of MLB overall. With clubs valuing wins ever more highly and stars understanding their elite market value, top baseball salaries should only continue rising to even greater heights.