The NFL’s salary cap continues to rise at a record pace, and entering the 2024 offseason, teams were pleasantly surprised by how much capital they had to spend.

Between the 2023 and ’24 NFL seasons, the salary cap rose a whopping $30 million to a yearly budget of $255.4 million for each team. Naturally, each squad is using that to try to build a Super Bowl contender, doling out hundreds of millions of dollars to players to do so.

The NFL’s competitive nature has created an ever-rising market, especially at quarterback. The next big deal tends to surpass the previous record holder, which creates a rotating crop of the highest-paid players league-wide.

In 2023, four different quarterbacks were crowned the highest-paid player in the NFL. First, it was Jalen Hurts. Then, Lamar Jackson took the mantle after just a few days. Three months later, Justin Herbert overtook Jackson for the top spot.

Finally, Joe Burrow inked a five-year deal that made him the NFL’s highest-paid player.

Burrow still stands as the NFL’s top-paid player, but there are plenty of other young, talented quarterbacks breathing down his neck. Burrow, Patrick Mahomes, Herbert, Jackson, and Hurts are all making more than $50 million in 2024, and it’s possible that another quarterback, such as Dak Prescott could soon join them.

Either way, expect there to be a lot of money flying around during the 2024 NFL offseason. That will create a great deal of change from the list of the NFL’s highest-paid players to close the 2023 season to the current one.

NFL’s highest-paid players 2024

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1. Joe Burrow, QB, Bengals 

Annual salary: $55 million

The Bengals tried to upstage the Chiefs on the opening night of the 2023 NFL season by making Burrow the highest-paid quarterback in the league. Burrow is the first NFL quarterback to crack $55 million in AAV and is making $219.01 million in guarantees as part of his contract.

Burrow should live up to his lofty deal provided he can stay healthy. He played in just 10 games last season due to a wrist injury but was on pace to record 3,925 yards, 26 touchdowns, and 10 interceptions over a 17-game season.

Burrow led the Bengals to a Super Bowl appearance during his second season in 2021, but it will be harder for him to get to those heights in a crowded AFC, especially with his contract taking up a lot of Cincinnati’s valuable cap space.

2. Patrick Mahomes, QB, Chiefs

Annual salary: $52.65 million

Mahomes was the highest-paid quarterback in the NFL in terms of total contract value thanks to the 10-year, $450 million deal he inked with the Chiefs in 2021. That quickly became a steal. Evidently, the Chiefs realized that, restructuring the veteran quarterback’s contract two weeks into the ’23 NFL season.

Mahomes’ deal is now worth $52.65 million from 2023-26, all guaranteed. While Mahomes’ contract still technically runs through 2031, he and the Chiefs plan to revisit his deal in ’26.

Mahomes has been worth every penny for the Chiefs, who won a second consecutive Super Bowl under his leadership to become the first NFL team to repeat as champions since the 2003-04 Patriots. Mahomes succeeded despite a lackluster receiving corps and should continue to be a perennial MVP candidate for the budding dynasty.

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3. Justin Herbert, QB, Chargers

Annual salary: $52.5 million

Herbert looked poised to be the NFL’s highest-paid quarterback entering the 2023 NFL season before Burrow and Mahomes agreed to their new contracts. The Chargers quarterback is still compensated handsomely, as his five-year, $262.5 million contract carries $2.5 million more in value than reigning MVP Lamar Jackson.

Statistically, Herbert has justified his massive deal, averaging 4,722 yards, 31 touchdowns, and 12 interceptions per 17 games played while completing 66.6 percent of his passes. His 30-32 regular-season record and lack of a postseason win through four seasons will cause some to insist he’s overrated, but Herbert will have a chance to change that narrative playing for Jim Harbaugh in 2024.

4. Lamar Jackson, QB, Ravens

Annual salary: $52 million

Jackson finally cashed in on a deal with the Ravens after years of the two sides hemming and hawing about contract details. The contract is worth $260 million over five years, and paying Jackson looked like the right choice in 2023.

Jackson put together a rock-solid season and helped lead the Ravens to a 13-4 record and the No. 1 seed in the AFC. His passing stats — 3,678 yards, 24 touchdowns, and seven interceptions — were a bit below average for an MVP winner, but he added 821 yards and five scores on the ground while fundamentally changing how Baltimore’s offense operated.

Like Herbert, Jackson doesn’t have the best playoff record. He’s just 2-4 as a starter, including his team’s 17-10 loss to the Chiefs in last year’s AFC championship game. Still, the Ravens aren’t far from making a Super Bowl run, so if Jackson can even out his postseason play, he should live up to this contract.

5. Jalen Hurts, QB, Eagles

Annual salary: $51 million

Hurts cashed in on the Eagles’ Super Bowl run with a five-year, $255 million deal during the 2023 offseason. The contract came with $179.3 million in guarantees and made him one of the league’s highest-paid quarterbacks after he signed it.

Hurts endured issues in 2023 — he threw a career-high 15 interceptions while overseeing a late-season Eagles collapse — but his 38 total touchdowns accounted for a lot of the Eagles’ offensive success. He also runs the famed “Tush Push” play better than any quarterback in the league, so as long as he stays healthy, the Eagles will be a threat to make another Super Bowl run in 2024.

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6. Kyler Murray, QB, Cardinals 

Annual salary: $46.1 million

Murray signed his contract extension in 2022 and has a record of just 6-13 since that point. The good news for Cardinals fans? Murray should be fully recovered from his torn ACL ahead of ’24, and Arizona should have a better supporting cast around the 2019 draft’s No. 1 pick.

Murray had a passer rating of 89.4 last season on an offense devoid of talent, so it stands to reason that the 5-9 quarterback’s stats should improve as the team around him elevates his game.

7. Deshaun Watson, QB, Browns

Annual salary: $46 million

Watson posted a 5-1 record in six starts in 2023, but he suffered a season-ending shoulder injury ahead of Week 11. He’s played just 12 games since the start of the 2021 NFL season, and it’s worth wondering whether he’ll ever be the same quarterback who thrived during his early career with the Texans.

Watson completed 61.4 percent of his passes for 1,115 yards, seven touchdowns, and four interceptions last season. The Browns gave him a fully guaranteed $230 million contract, so Cleveland can’t be pleased with the production — or lack thereof — it has received from Watson.

8. Josh Allen, QB, Bills

Annual salary: $43 million

Allen might be the biggest bargain among NFL quarterbacks right now. The Bills starter has a career record of 63-30 during the regular season and has three top-five MVP finishes to his name, but he has just the ninth-highest AAV in the league.

Allen’s playoff history is spottier, posting a 5-5 record and failing to reach a Super Bowl. That said, Buffalo came close to beating Kansas City in two of the past three seasons, so the Bills aren’t far from a breakthrough.

Allen chucked 18 interceptions last season, but he made up for that by recording 45 total touchdowns. He should continue to challenge for MVP awards, but his biggest goal will be knocking Mahomes and Co. out of the postseason to avenge Buffalo’s previous playoff losses against them.

T-9. Dak Prescott, QB, Cowboys

Annual salary: $40 million

Believe it or not, Prescott is entering the final year of the four-year, $160 million contract extension he signed with the Cowboys in March 2021. He will likely get a new deal after he posted a 69.5-percent completion percentage, 4,516 yards, a league-high 36 passing touchdowns, and nine interceptions in 2023.

For now, Prescott ranks just on the edge of the 10 highest-paid players in the NFL. His next deal should top $50 million per season, so he could soon be among the five highest-paid players in the league — or the highest if the 81-year-old Jerry Jones wants to go all-in and take aim at a championship.

T-9. Matthew Stafford, QB, Rams

Annual salary: $40 million

Stafford’s first season after signing his extension with the Rams was marred by injury. He bounced back nicely in 2023, completing 62.6 percent of his passes for 3,965 yards, 24 touchdowns, and 11 interceptions while leading the Rams to a wild-card berth. Stafford is now 36, but as long as he continues to work well with Cooper Kupp, Puka Nacua, and Kyren Williams, he should have no trouble living up to this contract value.

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T-9. Daniel Jones, QB, Giants

Annual salary: $40 million

The Giants took a risk signing Jones to a four-year, $160 million contract after he posted one strong season in Brian Daboll’s offense. It didn’t pay off, as Jones struggled immensely in 2023, completing 67.5 percent of his passes for 909 yards, two touchdowns, and six interceptions while taking 30 sacks in just six games.

The blocking in front of Jones was dreadful last season, but his penchant for turning the ball over and suffering sacks didn’t help the cause. The Giants need to invest in protecting him, but Jones must take a step forward to justify New York’s decision to pay him akin to Prescott and Stafford.

T-12. Aaron Rodgers, QB, Jets

Annual salary: $37.5 million

Rodgers entered the 2023 offseason as the league’s highest-paid player, but he restructured his contract to give the Jets a chance to add extra talent with their available cap space. New York didn’t upgrade the offensive line enough, and that led to Rodgers suffering a torn Achilles just four snaps into his Jets debut.

The Jets are on the hook for the last year of Rodgers’ two-year, $75 million contract now, but the marriage could extend beyond that. It will all depend on how well Rodgers, 40, plays as he returns from the significant injury.

T-12. Derek Carr, QB, Saints 

Annual salary: $37.5 million

Carr was the first quarterback domino of the 2023 NFL offseason to fall. He agreed to a four-year, $150 million deal with the Saints after being released by the Raiders. That reunited him with Dennis Allen, who named him the Raiders’ starter in 2014.

Carr was solid in his first season with the Saints, completing 68.4 percent of his passes for 3,878 yards, 25 touchdowns, and eight interceptions. New Orleans (9-8) didn’t win the NFC South, but the Saints were in the running late in the season. Still, Carr may have to up his game a bit to get the Saints back to the playoffs in 2024.

14. Nick Bosa, EDGE, 49ers

Annual salary: $34 million

The 14 highest-paid players in the NFL at present are quarterbacks. Bosa’s pass-rushing skills earned him the right to be the highest-paid non-quarterback and the league’s highest-paid defensive player at $170 million over five years.

Bosa, 26, has 53.5 career sacks across 68 games and has at least 10.5 sacks in each of the past three seasons. He’s just hitting his prime, so he should live up to this deal with the 49ers — provided that he can stay healthy.

15. Jared Goff, QB, Lions

Annual salary: $33.5 million

Goff’s contract has gone from an albatross during his time with the Rams to a rock-solid bargain for the Lions, with whom he has developed into a borderline top-10 quarterback. The 29-year-old is entering the last year of his deal in 2024, so the Lions will need to extend him soon if they want to keep their offensive core in place.

Goff helped lead the Lions to a 12-5 record and an NFC championship game appearance in 2024. He completed 67.3 percent of his passes for 4,575 yards, 30 touchdowns, and 12 interceptions while looking great in Ben Johnson and Dan Campbell’s offense.

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16. Aaron Donald, DT, Rams

Annual salary: $31.7 million

Aaron Donald is the second-highest non-quarterback in the NFL and with good reason. He’s an eight-time All-Pro first-teamer and has 111 career sacks in 154 games despite being a defensive tackle.

The Rams gave Donald a big-time deal after they won Super Bowl 56. He’s in the last year of that three-year pact worth $95 million and has recorded 13 sacks during it. That’s modest production by Donald’s standards, but he remains a force with which to be reckoned on the Rams’ defense.

17. Tyreek Hill, WR, Dolphins

Annual salary: $30 million

The Dolphins made Hill the highest-paid receiver in NFL history after acquiring him via trade from the Chiefs in 2022. He hasn’t disappointed. Hill recorded 119 catches in each of his first two seasons with the Dolphins and led the league in receiving yards (1,799) and receiving touchdowns (13) in 2023. The speedster is a five-time All-Pro and just turned 30, so he still has plenty left in the tank for the duration of his contract, which runs through 2026.

18. T.J. Watt, EDGE, Steelers

Annual salary: $28 million

Watt led the NFL in sacks in three of the past four seasons and has 96.5 sacks in 104 career games. He has at least 13 sacks in five of his seven NFL seasons, yet isn’t even the highest-paid player at his position. Watt is only 29 and has two years left on his deal, so as long as he can stay healthy, he should remain among the contenders for Defensive Player of the Year. That makes him well worth his $28 million AAV.

19. Davante Adams, WR, Raiders 

Annual salary: $28 million

Adams checks in just behind Watt on this list, who is making just $2,750 more than the Raiders receiver annually. Adams had a fourth consecutive 1,000-yard campaign in 2023 despite Las Vegas starting three different quarterbacks and cycling through two head coaches midseason. The 31-year-old should continue to be a No. 1 receiver which will greatly aid whomever starts at quarterback for the Raiders.

20. Joey Bosa, EDGE, Chargers 

Annual salary: $27 million

Bosa is a fierce pass rusher when healthy, but he hasn’t stayed on the field for the Chargers in recent seasons. He played just 14 regular-season games in 2022 and ’23 combined but still managed a solid nine sacks in those contests. Perhaps Bosa can stay on the field under Jim Harbaugh and Alex Minter’s staff, but he hasn’t played a full season since ’19. That may be a hard trend for the soon-to-be 29-year-old to reverse.

21. Cooper Kupp, WR, Rams

Annual salary: $26.7 million

Kupp was overshadowed by Puka Nacua’s breakout rookie season in 2023, but the Rams star was still productive, logging 59 catches, 737 yards, and five touchdowns while playing in 12 games.

Kupp is now entering the first year of the three-year, $80.1 million extension he inked with the Rams after his 1,947-yard season in 2021. He turns 31 in June, but the excellent route runner should remain a terrific partner for Nacua. Their contracts line up nicely, too, as Nacua will be extension-eligible when Kupp enters the final year of his contract.

T-22. A.J. Brown, WR, Eagles 

Annual salary: $25 million

The Eagles acquired Brown from the Titans via trade on draft day in 2022, and he has been a star for them. Brown has never missed a game for the Eagles, averaging 97 catches, 1,476 yards, and nine touchdowns per 17 games played. Brown turns just 27 in June, so he should remain Hurts’ No. 1 weapon as long as the wideout stays happy in Philadelphia.

T-22. Laremy Tunsil, OT, Texans

Annual salary: $25 million

Tunsil was voted to four of the last five Pro Bowls and is one of the better offensive tackles in the NFL. He is coming off a down year — he allowed five sacks and committed 10 penalties last season — but Houston was using a makeshift line in front of rookie quarterback C.J. Stroud for most of the season. Tunsil held his own, particularly in pass protection, and should cut down on his sacks allowed with better support in 2024.

T-22. Geno Smith, QB, Seahawks

Annual salary: $25 million

Smith proved in 2023 that his strong 2022 season was no fluke. He led the Seahawks to an 8-7 record in 15 starts and completed 64.7 percent of his passes for 3,624 yards, 20 touchdowns, and nine interceptions a year after recording 30 touchdowns and 11 interceptions. The Seahawks underwent a coaching change in 2024, so Smith needs to prove he can operate in Ryan Grubb’s offense without Shane Waldron and Dave Canales to help him. The 33-year-old is in the penultimate year of his contract, so don’t be surprised if Seattle invests in a young passer to groom behind him.

T-22. Myles Garrett, EDGE, Browns

Annual salary: $25 million

Garrett has posted double-digit sacks in six consecutive seasons and earned recognition as the NFL’s Defensive Player of the Year for 2023. He’s one of the fiercest edge rushers in the game and has 88.5 sacks in 100 career games. One could make the case that Garrett is the best defensive end in the league, so the Browns should be happy they have the pass rusher under contract through 2026 with just a $25 million AAV.