Looking back, I start to think about what my own salaries were in some of those seasons and how it has increased (or decreased) over the decades. How about you?
Too often we forget that the majority of players really didn't make a lot of money for their limited careers in the very early days.
FROM MLBTRADERUMORS:
As we enter Day 1 of the MLB lockout, one key issue in the current labor negotiations is where the players’ minimum salary will land. Given the union’s stated goal to get players paid more when they’re younger and more productive, it stands to reason that they’re seeking a more significant increase than usual. The minimum salary was set at $570,500 in 2021. It’s not known how much MLB proposed raising it in their most recent offer. Here’s a look at how the minimum salary has changed with each new CBA.
1968: Minimum salary went from $6K to $10K, a 66.7% increase
1970: $10K to $12K, a 20% increase
1973: $13.5K to $15K, an 11.1% increase
1976: $16K to $19K, an 18.8% increase
1980: $21K to $30K, a 42.9% increase
1985: $40K to $60K, a 50% increase
1990: $68K to $100K, a 47.1% increase
1997: $109K to $150K, a 37.6% increase
2003: $200K to $300K, a 50% increase
2007: $327K to $380K, a 16.2% increase
2012: $414K to $480K, a 15.9% increase
2017: $507.5K to $535K, a 5.4% increase
In the free agency era, the minimum salary had always increased by at least 15.9% until the just-expired CBA. There is historical precedent for a leap as high as 50%, which would mean $855,750 for 2022. An increase of 16% would be more in line with the ’07 and ’12 CBAs, which would set the minimum at $661,780. It should also be noted that the minimum salary typically increases each year within a CBA, with the ’20 and ’21 rates involving cost of living adjustments.