Jakobi Meyers Current Salary and Contract Structure
Jakobi Meyers signed a three-year contract extension with the Las Vegas Raiders in March 2023, with a total value of approximately $36 million and a $12 million signing bonus. His average annual salary under this deal sits around $12 million, making him one of the higher-paid slot receivers on the Raiders roster. The contract includes escalators tied to receptions and targets, which can push his effective earnings higher if he meets performance thresholds. This deal followed his four-year, $48 million extension with the New England Patriots in 2021, where he earned a $15 million signing bonus and an average annual value of $12 million. Meyers has consistently ranked among the top slot receivers in salary within the AFC, reflecting his role as a reliable possession target. His base salary for the 2024 season is reported at $13.5 million, with a cap hit of roughly $14.8 million, according to NFL salary-cap tracking sources.
Meyers' salary structure is heavily backloaded, with the highest base salary scheduled for the final year of his current deal. This design gives the Raiders flexibility to move on from the contract after 2025 if production dips. The guaranteed money in his current deal totals approximately $20 million, providing financial security regardless of performance. Slot receivers like Meyers typically earn less than elite outside wide receivers, but their reliability in short-yardage and red-zone situations commands premium pay. The Raiders structured the deal to balance cap space with retention, a common strategy for teams investing in proven route-runners. His cap percentage for the 2024 season is estimated at 3.1% of the Raiders' total salary cap.
Career Earnings and Team Transitions
Meyers earned roughly $10 million in the 2023 season with the Raiders, combining base salary, incentives, and roster bonuses. His total career earnings across the NFL are estimated at over $45 million, including guaranteed money from both the Patriots and Raiders contracts. Before joining Las Vegas, he spent four seasons with the New England Patriots, where he earned a cumulative $30 million in base salary. The transition to the Raiders in 2023 marked a significant pay increase, driven by his consistent production and market value as a slot receiver. His per-catch earnings in 2023 were estimated at roughly $11,500, based on 87 receptions for approximately $1 million in receiving yards. This efficiency in generating production per target reinforces his value in salary negotiations.
Meyers' earnings trajectory shows a steady climb, with his average annual salary increasing by roughly $3 million between the Patriots and Raiders deals. He has never missed a full season due to injury, which protects his salary guarantees and bonus escalators. The Patriots paid him a base salary of $9 million in 2021, the final year of his rookie deal, before the extension kicked in. His 2022 salary with New England was $12 million, reflecting the final year of the previous contract before the Raiders deal. The consistency of his paychecks, regardless of postseason performance, highlights the security of his guaranteed money. His cumulative earnings through the 2024 season are projected to exceed $55 million if he meets all incentive thresholds.
Comparison to Peer Slot Receivers and Market Value
Meyers' average annual salary of $12 million places him in the upper tier of slot receivers, behind only a few elite earners like Cole Beasley and Tyler Lockett in terms of total contract value. His per-reception value is competitive with players like Hunter Renfrow and DeSean Jackson in their prime years. The Raiders' investment in Meyers reflects a broader NFL trend of paying slot receivers more due to their usage in modern passing offenses.