Picture this: It’s a crisp Sunday afternoon in Green Bay. I’m sitting on my couch, holding a lukewarm hot dog, watching Aaron Rodgers sling a dart into the end zone. My buddy, a die-hard Bears fan, turns to me and sighs, “Man, he’s good. But is he really worth that much money?”
That little moment got me thinking. We throw around numbers like “$50 million” like it’s pocket change. But when we ask, “Who’s the highest paid QB in the NFL?” we’re really asking about a moving target—one that changes faster than you can say “franchise tag.”
As of right now (and I promise this will probably be outdated by the time you finish reading this), the title belongs to Joe Burrow of the Cincinnati Bengals. He inked a massive five-year, $275 million extension in the fall of 2023. That’s an average annual value of $55 million. Yeah, you read that right.
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Burrow’s deal reset the market, but let’s be real—he earned it. The guy took a historically bad franchise to the Super Bowl and nearly won it. Nearly. And he did it with a rebuilt knee. That’s the kind of story that makes owners write blank checks (figuratively, of course—the Bengals are famously thrifty).
But here’s the kicker—it’s not just Burrow. Behind him, you’ve got Patrick Mahomes with a $450 million contract that looks insane on paper but makes the Chiefs look like geniuses. Mahomes’ deal is actually structured so team-friendly (thanks to restructures) that he’s technically making less in cash this season than guys like Kirk Cousins. Irony, anyone?
NFL QB salaries: These are the highest-paid quarterbacks in 2023 – NBC
The “Highest Paid” Is a Trap
Here’s where things get messy. When we say “highest paid,” do we mean average annual salary? Total guaranteed money? Or just the biggest overall contract number? These aren’t the same thing, and NFL teams love to play word games. Guaranteed money is the real metric, folks.
Burrow has $219 million guaranteed. That’s the second-largest guarantee in NFL history, trailing only Deshaun Watson’s fully guaranteed $230 million deal with the Browns. Yes, that Deshaun Watson. The guy who’s played 12 games over two seasons and looked shaky at best. Talk about a salary cap headache.
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So, by total guarantee, Watson is technically the “highest paid” in terms of security. But nobody in their right mind ranks him as the best QB. That contrast is why these conversations are so fun—and so frustrating. You feel me?
Wait, What About the Rookies?
Rookie contracts are a different beast entirely. Guys like Bryce Young or C.J. Stroud get paid on a fixed scale, so they’re not in the running. But once they hit their second contract? Watch out. Justin Herbert just signed a five-year, $262.5 million extension with the Chargers. He’s now the second-highest paid by average value, right behind Burrow.
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And let’s not forget Lamar Jackson. After a messy, year-long holdout, he finally got his bag: a five-year, $260 million deal with the Ravens. It took a near-revolt from fans for the front office to cave. Classic.
The thing about QB contracts is they create a domino effect. Every time a young star signs a record deal, the next guy wants more. That’s why Burrow’s $55 million a year will probably look like a bargain in two years when someone like Tua Tagovailoa or Jordan Love gets a monster extension. It’s a pyramid scheme, and we’re all stuck watching.
Why Do Quarterbacks Make So Much at Alonzo Christensen blog
So, What’s the Bottom Line?
If you’re asking “Who’s the highest paid QB in the NFL right now?” the short answer is Joe Burrow. But if you ask a capologist or a GM, they’ll give you a three-hour lecture on void years, signing bonuses, and cap hits. Don’t let them bore you. You’re here for the drama.
Here’s a quick cheat sheet for your next bar bet: Burrow ($55M/year) leads, then Herbert ($52.5M), then Lamar ($52M), and Mahomes ($45M if you include his restructures). Watson is a weird ghost at $46M/year but with full guarantees. It’s a mess, but it’s our mess.
I’ll leave you with this: The next time you see a QB throw a pick-six, remember that their contract probably has a clause that pays them even if the stadium boos. It’s a good gig if you can get it. And honestly, who wouldn’t want to be the highest paid QB? Just don’t ask me to guarantee that title lasts until next Tuesday.