About a week ago, Major League Baseball and the MLB Players Association reached a new collective bargaining agreement that will run through 2021. Although the deal has yet to be announced, the league has released extensive details. information about the conditions, including the latest figures on the minimum wage.
The minimum wage would increase from $507,500 to $535,000 in 2017. It will then reach $545,000 in 2018 and $555,000 in 2019. Then, during the last two years of the agreement, there will be simple adjustments to the cost life.
The minor league minimum wage will also be affected, rising from $82,700 to $86,500 in 2017. Then, 2018 and 2019 will reach $88,000 and $89,500 respectively. The minimum will be subject to the same cost of living adjustments as the majors in 2020 and 2021.
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If you look at history, the minimum wage has changed dramatically in 50 years. In 1967, the minimum salary in Major League Baseball was $6,000 and the league average salary was $19,000. Twenty-five years ago, the league minimum wage was $100,000, while the league average was just under $600,000. Today, the average salary of a major league player is around $4.4 million.
Other significant changes to the new CBA include limiting the minimum number of days in the DL from 15 days to 10 days and creating new rules that allow the team with the highest winning percentage to get the home advantage in the World Series, not when it comes to the All-Star Game title.
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