Top Paid Quarterbacks and Contract Structures
The highest paid quarterback salary in the NFL is held by Josh Allen, who signed a 10-year extension with the Buffalo Bills in 2024 worth up to $258 million, including $150 million guaranteed, making his average annual value approximately $25.8 million. Patrick Mahomes of the Kansas City Chiefs signed a 10-year extension in 2020 worth up to $450 million, with $141 million guaranteed, setting a record for total contract value at the time of signing. Joe Burrow of the Cincinnati Bengals signed a 5-year extension in 2023 worth up to $275 million, with $160 million guaranteed, giving him an average annual value of $55 million, the highest AAV in league history. Deshaun Watson of the Cleveland Browns signed a 5-year deal in 2022 worth up to $230 million, with $120 million guaranteed. Dak Prescott of the Dallas Cowboys signed a 4-year extension in 2021 worth up to $160 million, with $100 million guaranteed. These contracts reflect the premium teams place on elite passing production and franchise quarterback stability source.
Quarterback salary structures typically combine large signing bonuses, guaranteed base salaries, and performance incentives tied to passing yards, touchdowns, and wins. The guaranteed money is the portion a team must pay regardless of injury or performance, while the rest is structured around roster bonuses and escalators. The average salary for an NFL quarterback in 2024 is approximately $5.5 million per year, but the median is much lower because most backup quarterbacks earn significantly less than starters. The salary cap for the 2024 NFL season is $255.4 million per team, and a quarterback can account for up to 20 percent of a team's cap space under the current rules, which incentivizes teams to invest heavily in their franchise passer source.
Quarterback Pay by Team and Position
In 2024, the Dallas Cowboys pay Dak Prescott the highest average annual value among quarterbacks with a guaranteed deal, while the Buffalo Bills pay Josh Allen the highest total guaranteed money among active contracts. The New York Jets pay Aaron Rodgers an average annual value of about $35 million after his trade from the Green Bay Packers in 2023. The Cleveland Browns pay Deshaun Watson about $46 million per year on average, while the Kansas City Chiefs pay Patrick Mahomes about $45 million per year on average. The San Francisco 49ers pay Brock Purdy an average annual value of about $35 million after his extension in 2024. The average salary for a backup quarterback in 2024 is approximately $3.2 million per year, with some third-string quarterbacks earning the league minimum of about $705,000 per season source.
Quarterback salary differences between franchise quarterbacks and backup quarterbacks are driven by starter usage, win-loss records, and market demand. The NFL uses a franchise tag for quarterbacks that can cost a team up to 144 percent of the player's previous year salary or the average of the top five salaries at the position, whichever is higher. In 2024, the franchise tag for a quarterback is approximately $50.3 million per year. Teams use this tag to retain a quarterback while negotiating a long-term deal, which often results in a contract restructuring that pushes cap hits into future years. The salary