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The quarterback position is the most important in football, so it should come as no surprise that players at the position are so handsomely paid. In fact, the 10 biggest contracts in NFL history, regardless of position, all belong to current quarterbacks. Dak Prescott is one player who has one of the biggest contracts ever in terms of total value, but it is the average annual value in his new deal that really blew people away.
Prescott set the record for per year money with the new contract he signed just hours before the Dallas Cowboys played their first game of the 2024 season. Prescott's deal continues a trend of quarterbacks due a new contract resetting the market with massive, record-breaking deals. Because of that, there are a lot of signal callers around the league with deep pockets now. In this article, we are going to look at the 10 highest-paid quarterbacks in the NFL for the 2024 season according to average annual value.
1. Dak Prescott, Dallas Cowboys – $60 million
There is a brand new record holder and highest paid player at the quarterback position, and Dak Prescott far exceeds the average annual value of the previously highest-paid quarterbacks in 2024. Prescott is set to make five million more this season than the next three players on this list.
As mentioned earlier, Prescott didn't sign a new deal until the last second. The patience was worth it for the Cowboys quarterback because he is now set to make $60 million per season, and he will be doing so alongside his favorite target, CeeDee Lamb, who was also recently given a huge pay raise.
Most of the biggest contracts ever in terms of total value are on deals that last five or more years, which is why Prescott only has the ninth biggest contract ever. His new deal is still favorable even without the extra year(s) of security, though, because not only does it make him the highest paid player per year, but he also has the most guaranteed in any NFL contract ever.
T2. Trevor Lawrence, Jacksonville Jaguars – $55 million
Trevor Lawrence is one of three quarterbacks who make $55 million per season in the year 2024. With over 4,000 yards in each of the last two seasons, Lawrence has improved drastically since his underwhelming rookie season. He still hasn't reached the potential scouts saw in him when he was made the first overall pick in 2021, though.
Coming out of Clemson, Lawrence was viewed as one of the best draft prospects ever. Although he hasn't been as dominant as expected, he did earn a big payday, and he is the only quarterback left with the team that drafted him of the five taken in the first round of that draft class.
T2. Joe Burrow, Cincinnati Bengals – $55 million
When healthy, Joe Burrow is clearly one of the best players in the league, which makes him more than worth $55 million a year. The Bengals quarterback has struggled with injuries in his young career, though. He was limited to 10 games in both his rookie campaign and during last season.
When he has been healthy, he has led his team to the Super Bowl and made big-time throws left and right. Burrow combined for 9,086 yards and 69 touchdowns in his two fully healthy seasons.
Now, Burrow hopes that the Bengals can bless another Cincinnati player with a big contract. Ja'Marr Chase and the Bengals haven't come to terms on a new deal, which led to the star receiver holding out during training camp and the preseason. He did play in Week 1, but he was held to a snap count, and the rust was evident. Burrow and Chase have thrived together since their time at LSU, so it makes too much sense to keep that duo intact.
T2. Jordan Love, Green Bay Packers – $55 million
The good news for the Packers is that Jordan Love is locked up long term. The bad news is that he suffered an injury at the end of their Week 1 game against the Philadelphia Eagles that will likely keep him out for a few weeks. The quarterback who finished second in touchdown passes (per NFL.com) last year (his first year as a full-time starter), is dealing with an MCL sprain.
The injury news is actually a relief, as many expected it to be much worse, but it is still an injury that might give Love problems throughout the season. That is far from ideal, considering that Love was given a new contract just weeks before the 2024 season started. The massive payday Love received was surprising to many, considering he only has one season as a starter under his belt.
The Packers were forced to sign him sooner rather than later, though, because Love sat the bench for three years, meaning he is now in his fifth NFL season and had free agency looming in front of him. Love has impressed so far, and the idea of a young quarterback learning from the bench from a veteran before taking over has worked for the Packers before.
Love learned for years under Aaron Rodgers, and Rodgers spent years on the bench learning behind Brett Favre. Green Bay clearly has a quarterback development system that works, and Love was rewarded a massive contract because of it.
5. Tua Tagovailoa, Miami Dolphins – $53.1 million
Fans still aren't 100 percent sure if Tua Tagovailoa's success is self-driven or if it is a product of his system and the players around him. Mike McDaniel has drawn up plays for the quarterback to thrive, and Miami has one of the best receiving corps in the NFL because the Dolphins star duo of Tyreek Hill and Jaylen Waddle is arguably the best in the league.
Meanwhile, Tagovailoa has dealt with injuries throughout his career, and many have questioned his arm strength. That doesn't matter, though, as he will be playing for the Dolphins for years to come, and he will be handsomely paid while doing so.
Tagovailoa has put up solid numbers in Miami. Just last year, his 4,624 yards through the air led the NFL, and he is in first place in that category again with 338 passing yards through one week of play in 2024. If the big numbers continue, then Tagovailoa's big contract will be more than justified.
6. Jared Goff, Detroit Lions – $53 million
Making $100,000 less than Tagovailoa per year is Jared Goff. The Lions quarterback is a former number-one overall pick, and he has transformed his game since being traded to the Lions. While Goff did lead his former team, the Los Angeles Rams, to a Super Bowl appearance, he looked like a replaceable player at the quarterback position and was nothing more than a game manager early in his career.
Goff isn't viewed in that light anymore, which is why the Lions gave him such a big contract. Goff is clearly a franchise quarterback, and there is a case to be made that he has outplayed the signal caller that he was traded for (Matthew Stafford) since the trade was made (although Stafford did win a Super Bowl).
The Lions struggled to win games for a long time prior to Goff's arrival, but they now have one of the best offenses in the league with Goff leading the way. The player under center in Detroit has helped transform the team into legitimate Super Bowl contenders.
7. Justin Herbert, Los Angeles Chargers – $52.5 million
Justin Herbert is one of the 10 highest-paid quarterbacks this season, and the Chargers will need him to be worth every penny this year. Austin Ekeler, Mike Williams, Keenan Allen, and Gerald Everett, some of Herbert's best weapons from seasons past, all found new homes in the offseason.
Herbert has the talent to carry the Chargers even with a weak supporting cast. In fact, he already did that in Week 1. Herbert has been lighting up the stat sheet since his rookie season. Herbert set the rookie records for passing touchdowns (31) and completions (396), and he has continued his dominance ever since.
8. Lamar Jackson, Baltimore Ravens – $52 million
Patrick Mahomes, the best quarterback and overall player in the NFL, didn't make the list of highest-paid quarterbacks in 2024, as his contract is spread out over the course of 10 years. Lamar Jackson is one of the 10 highest-paid players this season, though, and we ranked him as the second best gunslinger in the NFL.
Jackson is, of course, most known for his ability with his legs. He is already one of the best rushing quarterbacks ever. He is pretty good with his arm, too. Jackson has 16,160 career passing yards and 126 passing touchdowns to go along with the 5,380 yards and 29 touchdowns he has contributed on the ground.
9. Jalen Hurts, Philadelphia Eagles – $51 million
The best players on teams who appear in the Super Bowl tend to be paid big. That was the case for Jalen Hurts, as the Eagles gave him a new contract that pays him over $50 million per season after he led them to Super Bowl LVII.
Hurts doesn't look like your average quarterback. He is built like a linebacker, and he lifts weights like one, too. Because of that, he has become one of the best rushing quarterbacks in the league, and the tush push was an unstoppable play last season. You shouldn't underestimate Hurts' passing ability, though.
The quarterback has better accuracy, arm strength, and vision than anyone thought he would have when he was coming out of college.
10. Kyler Murray, Arizona Cardinals – $46.1 million
Kyler Murray is yet another former first-overall pick who is among the highest-paid quarterbacks in 2024. Murray is now well over a year removed from suffering a torn ACL, so fans are hoping for a breakout campaign. The undersized quarterback's ability to extend plays and work outside of a script gives him sky high potential, but he hasn't lived up to it yet.
Murray has some young, exciting targets to throw to this season. Trey McBride emerged as one of the best tight ends in football late last year, and Marvin Harrison Jr. was viewed as one of the best receiver prospects ever in the 2024 NFL Draft. Hopefully, Murray's new weapons will help unlock his potential. He needs to produce more to justify the huge contract that the Cardinals gave him.