How much is it worth today

[kmac32]

Did some reading recently on salaries in 1922 and here are some interesting facts.

In 1922, Babe Ruth made $30,000.00 which in todays dollars is worth $400,000.00
My gr at great uncle Elmer Miller made $6500.00 playing center field and in todays dollars, this would be worth $87,500.00

The question is after looking at these numbers, why do we pay some players 10 to 15 million dollars per year and are they really worth that amount of money considering what they contribute to society? My strait answer to this question would be no as most do not even have finished degrees from college and when it comes right down to it how much do these people contribute to our society. Even physicians who are critical to keeping us healthy do not make this kind of money that we pay players for playing a game. My opinion is that MLB salaries are way out of line considering the player's contribution to society. Thoughts?

Add in the fact that the average salary for a player in 2014 is 3.3 million dollars and the minimum salary os $500,000 dollars.

[z28jd]

They get paid that much because owners make much more money, plain and simple. If owners made half as much money as they do, then player salaries would be half as much. Back in 1922, they didn't have tv rights, radio rights, the souvenir sales, all of the sponsorship dollars, the attendance, etc., so there wasn't the money available to pay them much more. There also wasn't a player's union.

[Rich Klein]

And so are hedge fund managers, most CEO's, actors, actresses, politicians in Washington DC (Both Parties); television personalities; etc.

[Econteachert205]

I assume you are using some sort of CPI inflation calculator which is designed by the government to deceive you into thinking inflation is not as profound as it it is. Take a look at the Babe's salary relative to other things like an ounce of gold, land prices and other investments and I think you'll find a less dramatic comparison to today. The difference beyond this will likely be due to increased baseball revenues today and a lack of free agency in the 1920 s

[Bicem]

Looks like Ruth was a steal!

[kmac32]

It was also interesting looking at Ruth's salary compared to other team members. He was making $30,000 and the next closest salary was $8500. Guess that happens when you hit the home runs compared to a pitcher who throws every 4 th days and puts huge pressure on his arms.

[Bocabirdman]

My father, recently retired, has his Doctorate in Electrical Engineering. Back in the Seventies, he went for an extended trip to the Aleutian Islands to work, fine-tuning an Early Warning Radar installation. The company he was working for paid him time and a half while he was there AND continued his regular paychecks back home for the family to live on. I happened to see one of the paystubs. Overtime aside, he was making $40K a year. At the same time Yaz made headlines for signing a $500K contract...for 3 years. I remember thinking, "Gee a baseball player makes a little more than 4 times what a man, doing his best to protect the country against Russian missile attack, makes." About 6 months ago I was helping him get some financial stuff in order and he mentioned that through promotions, raises and switching companies over the years, he peaked at $350K a year. AROD makes WHAT?

[kmac32]

Originally Posted by Bocabirdman

My father, recently retired, has his Doctorate in Electrical Engineering. Back in the Seventies, he went for an extended trip to the Aleutian Islands to work, fine-tuning an Early Warning Radar installation. The company he was working for paid him time and a half while he was there AND continued his regular paychecks back home for the family to live on. I happened to see one of the paystubs. Overtime aside, he was making $40K a year. At the same time Yaz made headlines for signing a $500K contract...for 3 years. I remember thinking, "Gee a baseball player makes a little more than 4 times what a man, doing his best to protect the country against Russian missile attack, makes." About 6 months ago I was helping him get some financial stuff in order and he mentioned that through promotions, raises and switching companies over the years, he peaked at $350K a year. AROD makes WHAT?

Exactly my point. I remember going to Cubs camp and Randy Hundley tried to justify what players make just because they had to keep themselves in shape and they could only work for 10 to 12 years on the average. In my opinion, his arguement didn't quite make it especially when he was in a room full of doctors and attorneys who made nowhere near the salaries that were being discussed. There is not a person on the face of the earth that is what Arod or other players are / were being paid and especially when you look at what they do for our society.

[glchen]

Comparing doctors to entertainers really isn't relevant. Baseball players make so much money because of the huge TV contracts, in addition to other things like ballpark attendance, sponsorships, etc. Another way to look at it is if 25 million people who watch baseball, and they pay $1 a year to see ARod on some other player. However, while a baseball player or other entertainer can entertain millions upon millions of people, even the best doctor can only see so many patients per year.

[iwantitiwinit]

Four answers:

No free agency
No players union (as far as I know)
No TV
No night games

[tschock]

Originally Posted by glchen

Comparing doctors to entertainers really isn't relevant. Baseball players make so much money because of the huge TV contracts, in addition to other things like ballpark attendance, sponsorships, etc. Another way to look at it is if 25 million people who watch baseball, and they pay $1 a year to see ARod on some other player. However, while a baseball player or other entertainer can entertain millions upon millions of people, even the best doctor can only see so many patients per year.

Nail on the head here. Like comparing apples to orangutans. And situational as well. Is a visit to a dying child from his favorite fill-in-the-blank a more positive contribution to his condition than a doctor's, who at that point, might not be able to do anything for him?

Similar to saying that teachers, scientists, doctors, CEOs, etc etc are underpaid or overpaid. The best ones are underpaid while the worst ones are overpaid.

Bottom line is that baseball players are just like everyone else. They are paid what their employer feels they are worth.

[1952boyntoncollector]

i think its a lot easier to be a movie star if you are the son of a big star than a be a baseball star just becaue your dad was a baseball star..

im pretty sure brad pitt can make one of his 10 sons a star in a movie if he wants too..but in baseball you still got to hit.....pete rose jr played in what a few games in the majors?

[ls7plus]

Originally Posted by Bocabirdman

My father, recently retired, has his Doctorate in Electrical Engineering. Back in the Seventies, he went for an extended trip to the Aleutian Islands to work, fine-tuning an Early Warning Radar installation. The company he was working for paid him time and a half while he was there AND continued his regular paychecks back home for the family to live on. I happened to see one of the paystubs. Overtime aside, he was making $40K a year. At the same time Yaz made headlines for signing a $500K contract...for 3 years. I remember thinking, "Gee a baseball player makes a little more than 4 times what a man, doing his best to protect the country against Russian missile attack, makes." About 6 months ago I was helping him get some financial stuff in order and he mentioned that through promotions, raises and switching companies over the years, he peaked at $350K a year. AROD makes WHAT?

As Keith Hernandez remarked on a recent telecast, "these are the wonderful things that Marvin [Miller] did." IMHO, the owners should have called Marvin's bluff and reminded him that there is a new crop of players coming out next year, the year after that, and the one after that, and so on. Plus, the players had nowhere else to go--no stadiums to play in, no mass-marketing money, no TV or radio contracts.

Now, how many guys do we have making $15,000,000/yr. or more under long term contracts in their thirties, and not producing enough to actually earn even a small fraction of that? Let's have no more than two years guaranteed, and get the focus back on producing enough to actually help their team, rather than just showing up for a big paycheck (see Joe Nathan) and tying up a ton of team money that could be used for improving the roster!

Best wishes, guys,

Larry

[BicycleSpokes]

They are entertainers. Forget what they do for society. In any event the best pro athletes are WAY better at what they do than are most people with college degrees.