Major League Baseball’s average salary reached a record $4,721,393 in 2024, with a modest increase of 1.4%, the smallest since a four-year decline prior to 2022. This follows significant increases of 14.8% in 2022 and 7.2% in 2023 amid a new labor agreement post-lockout. Overall, MLB salaries have risen 28.3% since the pandemic-shortened 2021 season, with future negotiations likely as the current agreement expires on December 1. Players with varying service time saw significant differences in average salaries, peaking at $22,034,231 for those with 11-12 years of service.
