MLB players are rarely paid huge dollars until well into their careers, which results in some "underpaid" young players and extremely bloated contracts for veterans. These are the most overpaid and underpaid players by position heading into the 2026 season.
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Skenes couldn't have possibly had a better first two seasons, winning Rookie of the Year and the Cy Young consecutively. He's quickly become the face of the Pirates, yet he's drawing the league minimum salary below $1 million.
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Arizona might have buyer's remorse after signing Rodriguez to a four-year, $80 million contract in 2024. Over two seasons, he's made only 39 starts with an ERA above 5.00. He will make $21 million in 2026.
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Uribe is clearly Milwaukee's closer of the future, even seeing some work in the role when Trevor Megill was injured late last season. He continues to earn the league minimum, but had a 1.67 ERA in 75.1 innings last year.
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Hicks was signed to a four-year, $44 million contract by the Giants to convert back to starting in 2024. After a fine first season, he was a disaster last year and eventually traded to Boston. He served in relief with an ERA above 8.00 for the Red Sox, and the team can only hope to get a contribution from his $12.5 million salary.
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Smith stepped in seamlessly as Cleveland's closer after Emmanuel Clase was put on leave last season, and he enters 2026 as an elite closer. He posted a 2.93 ERA and 1.00 WHIP in 73.2 innings, and continues to draw the league minimum salary.
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Stephenson has thrown only 10 innings in two seasons after signing a three-year, $33 million contract with the Angels in 2024. He's the top candidate to serve as the team's closer this season while earning $11 million in the final year of the deal.
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Goodman answered the questions about his ability to serve as a full-time catcher last year, hitting .278-31-91. He's now a building block for the team as an All-Star and continues to earn the league minimum salary.
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Murphy signed a six-year, $73 million extension in 2023 after being traded from the A's, but his offense over the last two years has been subpar. He's likely to be Drake Baldwin's backup after offseason hip surgery, but Murphy will earn $15 million this year.
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Busch has developed into a star in the middle of Chicago's batting order, hitting .261-34-90 last season. Entering his third full season, Busch still earns the league minimum.
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Walker signed a three-year, $60 million contract with Houston last offseason, but his OPS dropped nearly 100 points in 2024. He still makes a decent power and defensive contribution, but appears well overpaid, earning $20 million this season.
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Edwards has developed into a fine table setter and defensive middle infielder, posting a 3.2 WAR last season while hitting .283 with 27 steals. He continues to earn the league minimum salary.
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Overpaid second baseman: Jeff McNeil, Athletics
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McNeil earned a four-year, $50 million contract from the Mets in 2023, but he's been in decline in recent seasons. He enters the final year of his contract, making $15.75 million after posting a .746 OPS last season.
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The hype was real for Caminero, a former top prospect, as he hit 45 home runs last season. The powerful third baseman still earns the league minimum and isn't arbitration-eligible for two more years.
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Overpaid third baseman: Nolan Arenado, Arizona Diamondbacks
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Arenado signed a nine-year, $275 million contract with the Rockies all the way back in 2019. He's played well over the life of the contract, but age has taken its toll lately. He hit only .237-12-52 in 107 games and saw a clear defensive decline with the Cardinals last season. The Rockies and Cardinals will pay the bulk of the two remaining years on his contract, but Arenado is set to make $27 million this season in Arizona.
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De La Cruz is a physical marvel, going 20/20 in back-to-back seasons and making the All-Star team in both years. Cincinnati has tried to extend the shortstop, but in the meantime, he isn't arbitration eligible until next offseason.
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Baez hasn't lived up to his six-year, $140 million contract signed in 2022, but the Tigers were able to find some use out of him as a utilityman last season. That role is likely to continue with top prospect shortstop Kevin McGonigle getting close, and $24 million this year is a huge sum to pay.
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Wood is a clear foundational player for the rebuilding Nationals, hitting 31 home runs with an .825 OPS last season. He still has some issues to work out, including a poor strikeout rate and defense, but the 23-year-old outfielder has time on his side. He's not arbitration-eligible until 2028.
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O'Neill signed a three-year, $49.5 million contract with the O's last year, only to get injured and play 54 games. Baltimore hopes he can rebound to his 2024 form, when he hit 31 home runs, as he will earn another $16.5 million this season.
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The Cubs have found a superstar in Crow-Armstrong, as a Gold Glove defender who also went 30/30 in his first full season. The team would love to have him long-term, but for now PCA makes only the league minimum salary.
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Straw signed a five-year, $25 million contract extension back in 2022 with Cleveland, but has served as a minor leaguer or bench player for most of that time. He made a contribution for the Jays last season, playing 137 games and posting a .680 OPS, but it's not worthy of the $7.4 million salary he will earn this year.
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Underpaid right fielder: Sal Frelick, Milwaukee Brewers
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Frelick has become an excellent player for the Brewers offensively and defensively, posting a .756 OPS last season and winning a Gold Glove the previous season. He continues to earn the league minimum salary in 2026.
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Castellanos is in the final year of a five-year, $100 million contract that he signed with Philly, but he's been a mediocre player both offensively and defensively, He posted a sub-.700 OPS last season while struggling in the field and will make $20 million this season.
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Herrera has emerged as one of the Cardinals' top hitters, hitting .284-19-66 with an .837 OPS in 107 games last season. He's mostly moved off catcher to stay healthy, but continues to earn the league minimum salary.
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Pederson signed a two-year, $37 million contract last offseason, but hit the age cliff in the first year with a .614 OPS in 96 games. He will try to rebound this season, but will make a hefty $21.25 million salary.