5 Highest Paid QBs in the NFL (Updated 2023)

While Joe Burrow of the Cincinnati Bengals hasn't gotten his contract extension yet, it'll hopefully get done before the 2023 regular season gets underway. Until Burrow signs his deal, a different player sits at the top of the quarterback salaries.

Let's take a look at the five-highest-paid quarterbacks in the NFL. This is based on the annual average value.

All contract information courtesy of Spotrac

All stats courtesy of Pro Football Reference

5. Kyler Murray (Arizona Cardinals)

Murray is set to earn $46.1 million in 2023 after the Cardinals extended him in the summer of 2022. He accounts for 16% of the team's payroll and sometimes teams are okay with this if their quarterbacks lead the team to great heights but that hasn't been the case with Murray.

Before signing the extension, Murray had made the Pro Bowl in back-to-back seasons and won the Offensive Rookie of the Year in 2019. The Cardinals made the playoffs in the 2021 season but were one-and-done. This past year, they were one of the worst teams in the league and Murray's extension looks even worse now that he'll miss a chunk of the upcoming season due to an ACL injury he sustained at the end of 2022.

4. Russell Wilson (Denver Broncos)

When the Broncos swung for the fences and traded for Wilson in the 2022 offseason, a lot of people dubbed the AFC West as the toughest division in the NFL. After all, the Broncos have seemingly been "a quarterback away" since Peyton Manning retired following Denver's Super Bowl win. Once they got Wilson, that seemed to be it then, right? They'd be a Super Bowl contender with Danger Russ at the helm.

After trading for Wilson, the Broncos signed him to an extension worth $242 million before he even took a snap for Denver. This was a decision that as of this writing they're probably regretting, as Wilson was downright awful in 2022. He threw for just 16 touchdowns and 11 interceptions through 15 starts. This was a far cry from what Wilson was during his time with the Seahawks.

The bad news for Denver is that Wilson is set to earn $48.5 million this year. The good news is that the Broncos traded for Sean Payton and if anyone can get Wilson back to the guy he used to be, it's Payton.

3. Aaron Rodgers (New York Jets)

Like the Broncos did with Wilson in 2022, the Jets swung for the fences and traded for long-time Packers quarterback Aaron Rodgers. He's on a contract where he's set to make $50.2 million this year.

The Jets haven't been to the playoffs in over a decade and they're hoping that Rodgers will be the guy that gets them there this season. Following their addition of Rodgers, the Jets have continued to add former Packers players to help make their new quarterback comfortable.

The AFC East looks to be what the AFC West was supposed to be last year and it should be interesting to see if Rodgers can propel the Jets to the postseason.

2. Jalen Hurts (Philadelphia Eagles)

Hurts held the honor of the NFL's highest-paid quarterback for all of 10 days after he inked a five-year extension worth $255 million. This came after Hurts put together an impressive season in Philadelphia and helped lead the Eagles to the Super Bowl. Yes, they lost to the Chiefs but Hurts played a very good game and proved his worth to the team.

Hurts is set to earn $51 million in 2023 and considering how the rest of the NFC looks, he should be able to lead the Eagles on a deep playoff run once again. The Eagles were smart to extend Hurts after the season he put together in 2022 and as we've seen with quarterback salaries, this will soon look like a bargain of a deal.

1. Lamar Jackson (Baltimore Ravens)

Ten days after Hurts signed his $255 million extension, the Baltimore Ravens finally agreed to terms on an extension for Lamar Jackson, ending a lengthy soap opera between the two sides. Jackson signed a five-year extension worth $256 million, overtaking Hurts as the highest-paid player in the league.

Jackson will earn $52 million in 2023 so the Ravens are obviously hoping that he can stay healthy this year. The 2019 MVP was once viewed as one of the best quarterbacks in the league but the past two years haven't been as kind to Jackson, as he's missed time in both seasons and that's impacted the Ravens' division title chances.

Now that Jackson is signed, there remain two quarterbacks left unpaid this offseason. Joe Burrow is one of them and Justin Herbert is the other. Both guys will likely wait for the other to sign first so they can benefit and make the most possible money.