Dak Prescott and the top 10 most highly paid NFL quarterbacks, where Dallas Cowboys star ranks

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The 2023 offseason was all about the quarterbacks, many of whom earned massive salary bumps going into the campaign.

Owners dug deep into their pocketbooks to hang onto their prized possessions long-term, setting a precedence for QB salaries in the future.

Who are the highest-paid quarterbacks in the NFL?

On September 7 2023, Joe Burrow signed a five-year, $275 million extension, becoming the highest-paid player on an annual basis, with his yearly salary at $55 million.

The Chargers Justin Herbert held the previous record in July of last year with a five-year, $262.5 million deal, $52.5 million annually.

Baltimore’s Lamar Jackson held the mark a few months earlier in April with a five-year, $260 million deal, coming in annually at $52 million.

That broke the record set earlier in the year by the Eagles’ Jalen Hurts, whose contract extension was for five years and $255 million, $51 million annually.

Here is a list of the NFL’s top 10 highest-paid quarterbacks for annual salaries according to Over The Cap.

1. Joe Burrow, Cincinnati Bengals: $55 million
2. Justin Herbert, Los Angeles Charger: $52.5 million
3. Lamar Jackson, Baltimore Ravens: $52 million
4. Jalen Hurts, Philadelphia Eagles: $51 million
5. Russell Wilson, Denver Broncos: $49 million
6. Kyler Murray, Arizona Cardinals: $46.1 million
7. DeShaun Watson, Cleveland Browns: $46 million
8. Patrick Mahomes, Kansas City Chiefs: $45 million
9. Josh Allen, Buffalo Bills: $43 million
10. Matt Stafford, LA Rams; Dak Prescott, Dallas Cowboys; Daniel Jones, New York Giants: $40 million

Where Dak Prescott ranks among the highest-paid NFL quarterbacks?

In March 2021, the Dallas Cowboys gave Dak Prescott a four-year contract extension worth $160 million.

That breaks down to an annual salary of $40 million, putting him in a tie for 10th among QBs with Matthew Stafford and Daniel Jones.

When Prescott put pen to paper that year, though, he was the league’s highest-paid player.

Given that Prescott’s in the MVP race and how highly Jerry Jones thinks of him, he could be due an extension before the 2024 season begins.

There was a time earlier in the campaign when there were talks of Dak getting an extension that’d make him the highest-paid player once again.

How much does Prescott make in bonuses?

Regarding bonuses, Prescott is much higher up on the money list.

His current deal includes $66 million worth of bonuses, which was, at the time, the most of any quarterback in the NFL.

Today, Lamar Jackson’s $72.5 million signing bonus is the only one above Prescott’s.

Dak’s signing bonus is split into payments of $13.2 million over five years, with that last year considered a void year.

How much of Prescott’s salary is guaranteed?

Of the $160 million contract for Prescott, $126 million is guaranteed before restructuring it to $95 million per Over the Cap.

That puts him slightly above Russell Wilson at $124 million worth of guarantees.

Justin Herbert’s guarantees are slightly above $133 million, while Lamar Jackson comes in at #135 million.

Deshaun Watson’s guaranteed $230 million is the highest among NFL quarterbacks.

It’s also the highest if you average out guarantees annually, with Watson at $46 million.

Burrow’s annual guarantee is over $29 million, Herbert’s over $26 million, and Jackson and Wilson’s are above $27 and $24 million, respectively.

Prescott’s guarantees annually are at $23,750,000.