MLB's average salary increases to $5.34 million for 2026; Mets have baseball's highest payroll at $352 million

Major League Baseball’s average salary increased to $5.34 million for the 2026 season, according to a study by the Associated Press. That salary represents at 3.4% increase from the $5.16 million that MLB players averaged last year.

Despite the uproar over the Los Angeles Dodgers’ spending during the offseason, the New York Mets actually have baseball’s highest payroll this year at $352 million. (That’s actually less than the $355.4 million that the team spent on player salaries in 2023. But the Mets’ 2026 figure is up from last year’s $322.6 million payroll.)

The Dodgers rank second with a $316.6 million payroll after winning back-to-back World Series champions. (But that figure is actually less than last year’s $319.5 million.) However, if not for deferred salaries, the Dodgers’ payroll would be $395.2 million, according to the AP. The Mets would be at $360 million without taking deferred salaries into consideration.

Coming in at third among MLB team payrolls is the New York Yankees at $297.2 million, followed by the Philadelphia Phillies at $282 million and Toronto Blue Jays with $269 million.

In addition to carrying the highest team payroll, the Mets also have the player with MLB’s highest average salary this season with Juan Soto earning $61.9 million. (He has baseball’s top average salary for the second consecutive year.) The Yankees’ Cody Bellinger is next at $42.5 million.

Filling out the top five among highest average individual salaries are Phillies pitcher Zack Wheeler and Mets third baseman Bo Bichette at $42 million, followed by Blue Jays first baseman Vladimir Guerrero Jr. earning $40.2 million. (Yankees outfielder Aaron Judge just missed the top five with his $40 million salary for 2026.)

Which teams boosted their payrolls most? The Detroit Tigers went from $64.2 million last season to $206.7 million this season, led by the $32 million that AL Cy Young Award winner Tarik Skubal won in arbitration. The Atlanta Braves increased their player budget by $44.1 million and the Chicago Cubs joined the Mets and Blue Jays by spending just under $30 million more.

The Minnesota Twins led MLB teams with the largest reduction in payroll, slashing their $96.5 million figure from last season to $46.3 million. (The team shed significant salaries at last season’s trade deadline.)

Other clubs with the biggest payroll decreases include the St. Louis Cardinals, who cut their player budget from $141.5 million to $100.4 million. The Cleveland Guardians reduced their payroll by $40 million, while the Texas Rangers cut payroll by $37.3 million and the Washington Nationals are paying $23.3 million less in salaries this year.

The median salary in MLB is $1.4 million this season, up by $50,000, according to the AP’s study. A $1 million salary is drawn by 519 players, while 19 players are earning $30 million or more, 74 have a $20 million salary and 168 will earn $10 million. MLB’s $780,000 minimum is being paid to 31 players.