Patrick Mahomes and the top 10 most highly paid NFL quarterbacks, where Kansas City Chiefs star ranks

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Playing quarterback may be the hardest position in sports, but it comes with a massive salary if you’re an NFL starter.

We saw records set and broken regarding QB salaries in the 2023 offseason, and it’s likely only going to get higher in the future.

Who are the highest-paid NFL quarterbacks?

Many of the highest-paid quarterbacks in the league are names that Kansas City Chief fans know well.

Until the AFC Championship Game two seasons ago, Joe Burrow had never lost to Patrick Mahomes.

“Joe Cool” is in year two of his five-year, $275 million deal.

Another QB that Mahomes and the Chiefs face often is Justin Herbert.

The Chargers pivot is also on a five-year contract worth $262.5 million.

Lamar Jackson is likely to collect his second NFL MVP award on Thursday, which would match Mahomes.

In the 2023 offseason, Jackson and the Ravens agreed to a five-year, $260 million deal.

The MVP runner-up to Mahomes last season, Jalen Hurts earned a five-year, $255 million extension last offseason.

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

Each of those top-four names at one time had the record for the largest quarterback salary in NFL history.

How much does Patrick Mahomes make annually?

For a quarterback who is a game away from a third Super Bowl ring, you might be surprised to know where Mahomes’ current salary ranks.

In 2020, the Chiefs gave him a 10-year extension worth a whopping $450 million.

That is not as high as other salaries when broken down per season.

Mahomes currently earns an annual salary of $45 million, the eighth-highest among QBs per Over the Cap.

Kyler Murray ($46.1 million) and Deshaun Watson ($46 million) are above him.

What kind of bonus is Mahomes getting?

According to Spotrac, Mahomes earned a $10 million signing bonus in 2020.

Lamar Jackson makes more bonuses than any NFL QB, coming in at $72.5 million.

Next is Dak Prescott at $66 million.

Matthew Stafford is at $50 million, as is Russell Wilson.

Mahomes’ bonuses seem relatively small, but prior to the start of 2023, the Chiefs’ front office revisited their deal with him. Here’s how that contract looks.

What does Patrick Mahomes’ restructured deal look like?

Mahomes may have a lower salary than many expect, but that won’t be for too long.

In September, the Chiefs agreed to restructure his deal, and it’s a massive upgrade.

Between 2023 and 2026, Mahomes will earn $210.6 million, the most in NFL history over a four-year span.

That $210.6 million, by the way, is guaranteed.

At the moment, Over The Cap has Mahomes’ guarantees at over $63 million.

Burrow has the highest guaranteed salary at over $146 million.

In 2024, Mahomes will have a guaranteed roster bonus of $34.9 million and a $1 million workout bonus.

Essentially, the Chiefs are giving Mahomes an advance which adequately compensates one of the best at his position, along with a shot at more money should salaries continue to rise in the future.

Both sides say they plan to revisit Mahomes’ contract in 2026.