Ranking the Top 10 Highest-paid Quarterbacks in the NFL 2023-24 Season

The quarterback is the linchpin of success in the world of professional sports, and especially in the NFL. These players are revered for their ability to orchestrate an offense, read defenses, and lead their teams to victory. As a result of an ever-growing salary cap, quarterback pay has reached previously unimaginable levels. In this article, we take a look at the top 10 highest-paid quarterbacks in the NFL for 2023.

10. Daniel Jones

A strategic move, the Giants made to extend quarterback Daniel Jones was for a four-year, $160 million deal. Until 2026, the Giants retain control, despite increasing cap charges, thanks to his fully guaranteed $81 million contract.

9. Josh Allen

Now ranking ninth in the league, Josh Allen’s $43 million AAV contract was signed in 2021. Even with a modest 2023 cap fee, his stats are anticipated to skyrocket in the upcoming years, as the quarterback arena develops.

8. Patrick Mahomes

Over $450 million in total value, Patrick Mahomes’ 10-year contract extension represents the highest in the league, offering the Kansas City Chiefs financial stability via an unconventional agreement. Rolling guarantees and a lower cash flow through the first three years are part of the contract.

7. Deshaun Watson

Watson’s contract with the Browns shifted the quarterback market’s conventional dynamics. Despite subsequent extensions, the precedent for future quarterback contracts was set by his fully guaranteed $230 million deal.

6. Kyler Murray

The contract extension Kyler Murray signed in 2022 is valued at $46.1 million over five years. Not until 2024 will Murray’s numbers increase, resulting in an expansion for the Arizona Cardinals’ cap hit. Contract structure aside, an early release seems unlikely for him, though trading possibilities persist for the franchise.

5. Russell Wilson

Upon signing a $245 million deal for five years, a $49 million AAV, Russell Wilson joined the Denver Broncos. Total guarantees add up to $161 million, with $124 million in fully guaranteed money. Wilson’s growing cap charge over the years creates financial difficulties for Denver.

4. Jalen Hurts

During a brief time, Jalen Hurts was the NFL’s most lucratively compensated quarterback as he inked a five-year, $255 million agreement with the Philadelphia Eagles in April 2023. Being guaranteed $179.304 million and having an AAV of $51 million allowed him to climb the ranks of elite earners. Now locked in with the Eagles through 2028.

3. Lamar Jackson

Initially franchise-tagged, Lamar Jackson secured a long-term deal with the Baltimore Ravens later. For several months, the league’s highest-paid quarterback was him after signing a five-year deal valued at $260 million and carrying an AAV of $52 million. Totaling $185 million, Jackson’s contract also includes injury guarantees for his 2023 and 2024 salaries. The cap charges in later years provide Jackson’s contract with flexibility.

2. Justin Herbert

Before Joe Burrow’s breakthrough contract, Justin Herbert of the Los Angeles Chargers held the accolade of the NFL’s most generously compensated quarterback. The impressive AAV of $52.5 million involved in Herbert’s $262.5 million deal unquestionably shook up Burrow’s negotiations. Herbert’s contract enables financial security due to a specified $133.7 million guarantee and maintains competitiveness through option bonuses that extend until 2029.

1. Joe Burrow

As the 2023 season nears, Joe Burrow as the Cincinnati Bengals quarterback is first in NFL salary. In September 2023, a $55 million AAV marked a historical Burrow contract spanning five years. $219.01 million is fully guaranteed in this unprecedented contract, placing it as the second-largest in NFL history after Deshaun Watson’s record $230 million deal. The Bengals sealed Burrow’s commitment through 2029, stabilizing his position as a highly remunerated player in the league.

With big contracts, NFL quarterbacks are making waves in 2023. Through Joe Burrow’s leadership, top earners in professional football are pushing beyond their role as athletes to become financial trailblazers.

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