This is true in a lot of cases, but average people are usually aware of the superstar athletes and their salaries; not necessarily the low to mid-level player. They have a much different pay-grade. While all players still make a pretty penny, they aren’t always millionaires.
We’re going to talk about hockey player salary in this article, going into some of the details that determine how much they take home when they get off the ice.
Hockey Player Salary: What do the Pros Make?
A player’s salary is primarily determined by the HHR (HockeyRelated Revenues) the league projects on a given year. A traditional business might distribute their paychecks through an avenue like thepaystubs.com, handing out checks at the end of the week based on an hourly rate.
Professional hockey player salaries, on the other hand, are determined yearly by a number of factors.
League and Team Factors
The League’s projected revenue is split into two parts before the season. One half is directed to the owners and the other half goes to the players.
Each team’s salary range is determined by dividing the players’ portion by the number of teams in the league. That number is then used to find a team’s salary cap, ceiling, and floor.
No one player can earn above 20 percent more than the salary cap, and all players must be paid a minimum determined by the money allotted to their team. The minimum salary is going up, and the 2019-2020 season’s minimum is set at $700,000 per year.
Last year, the league’s highest-earning player was Connor McDavid, who took in 19 million dollars. The difference in pay is specified in each player’s contract, which can be affected by a number of factors.
After the specifics of the team’s paygrade are determined, they can then distribute that money to players in different degrees.
Many players’ contracts state that they’re owed a specific percentage of a team’s salary per season. Alternatively, contracts can have fixed yearly payouts. A player could sign a two-year contract for 10 million dollars, getting 5 million dollars each year, for example.
The state that a player lives in also determines their pay after taxes. In fact, every state has different specifications when it comes to taxes.
Further, the player’s performance also plays a huge part in pay. It’s obvious that a team will pay a player more if they perform at a high level. Players can earn more or less, however, during the season if their play exceeds or falls below a standard stated in the contract.
After all is said and done, the average professional hockey player salary lands somewhere around 4 million dollars per year. There’s a lot of variance, though, and outliers may skew the average a good deal.
At the end of the day, a minimum pay of 700,000 dollars is not too shabby.
Want to Learn More About the NHL?
Hockey player salary is just one of the many facets of the NHL. The fascinating elements of hockey are too numerous to count, and it makes sense that so many people follow the game.
If you’re interested in learning more about hockey, explore our site for the information you need.