Do MLB Players get Bonuses if they Win Awards?

The MLB Pre-Arbitration Performance Bonus Program

This might be one of my favorite new MLB Rules

Players on Rookie Salary are now eligible to receive additional compensation if they win or place in certain awards. These numbers are Big!

I've talked through the Salary Progression of MLB Players in past posts so I'm going to jump ahead a bit.

Players who get called up to the MLB are on "League Minimum" Salary for the first 3 years of their career. Some are only on it for 2 but that exception is not important for this conversation.

Here's the salary progression for someone who gets called up this year:
2024 - $ 740,000
2025 - $ 760,000
2026 - $ 780,000

Here's the issue. Until last year that's really all they could earn regardless of performance and awards received.

The Performance Bonus Pool is great because players can now get additional compensation if they win or place in certain awards.

Win MVP or Cy Young Award - $2.5 Million
2nd Place MVP or CY Young Award - $1.75 Million
3rd Place MVP or CY Young Award - $1.5 Million
4th / 5th Place MVP or CYA or All MLB 1st Team - $1 Million
Win Rookie of the Year - $750,000
2nd Place ROY or All-MLB 2nd Team - $500,000

The caveat, players can only receive the highest single bonus they qualify for.

The Bonus pool for this is $50 million in 2024

For any amount remaining after the above awards are paid out, it will be distributed to players who place in the Top 100 in Joint WAR.

Source: Baseball America