As the National Hockey League continues to grow, so do the monstrous salaries of their players.
It seems as though each year we see bigger contracts handed out than the previous year. But with all that money being thrown around, when do NHL players see any of it?
NHL players are paid their base salary twice a month, typically the 15th and 30th of each month, throughout the NHL season. Their semimonthly payments are calculated by determining their daily salary, which is done by dividing their salary by the number of calendar days in an NHL regular season.
Let’s take a look at an example and break it down:
Player A has a season salary of $1,000,000
Let’s say there are 190 days in an NHL regular season
Divide Player A’s $1,000,000 salary by the numbers of days in the season, which is 190 for this example.
This means Player A’s daily salary would be $5,264.16
Players get paid twice a month, every 15 days.
This means twice a month, Player A would receive two $78,962.40 payments.
Of course, this will change slightly for months that have more or less than 30 days. This equation also does not take into account escrow, which NHL players must contribute a percentage of their paychecks to.
When I picture an NHL player signing a massive contract, like Auston Matthews signing his 5 year $58,195,000 deal, I always picture briefcases of money being dropped off at his doorstep. But, this isn’t reality.
In reality, and as agreed upon in the collective bargaining agreement between players and the league, NHL players are paid their salary via direct deposit at the middle and end of each month during the regular season.
These payments do not include things like signing bonuses or playoff bonuses.
When do NHL players receive their signing bonus?
NHL signing bonuses are a tool a player and their agent can use to make their contracts “buy out proof” or “lockout proof”. Receiving the majority of their contractually agreed upon money in one lump sum payment as opposed to being paid out throughout the season.
But when do NHL teams pay players their signing bonuses? NHL players will receive their signing bonus after the season is over in the month of July, typically July 1st. Signing bonus dates are eligible to be negotiated in the player’s contract if they wish to receive it on another date other than July 1st.
John Tavares is a great example of having a buy out proof contract by way of signing bonuses.
As you can see, Tavares receives the majority of his contract money through one time lump sum payments via signing bonus each year, while his base salary which he gets paid throughout the entire year, is only $910,000.
How much do NHL players make per game?
A common misconception is that NHL players only get paid per game, which just simply isn’t true.
NHL Players do not get paid per game, they earn money daily throughout the regular season and are paid out semimonthly. How much a player is paid per day is calculated by dividing the number of days in a regular season by the player’s base salary number.
People tend to think of NHL players as only having to show up to work on game days, when the truth is being an NHL player is a full time job day in and day out.
Whether it be working out, on ice practices, eating right to ensure you have the energy levels needed to compete at a high level etc. Playing in the NHL is a daily grind.
There is so much more that goes into being an NHL player than showing up and playing games. Which is why NHL players earn money daily as opposed to earning money per game.
The NHL is filled with different sized contracts, from the lowest paid NHL players like Jason Spezza who signed a contract with an annual average value of $750,000 to Connor McDavid who signed a contract with an annual average value of $12,500,000.
But on average, how much do NHL players make? On average, NHL players make $2,073,089 USD. This number is based on 1,332 signed contracts for the 2020-21 NHL season, including both one-way and two-way contracts.
Average NHL signing bonus
Signings bonuses aren’t offered to all players in the NHL, but when they are, they often range from $15,000 all the way up to $12,000,000.
The average NHL signing bonus is $749,571, based on the 504 active signing bonuses in the 2020-21 NHL season
Not all the major sports leagues offer guaranteed contracts in which their players are paid their regular amount regardless of how they got injured.
In the NHL, players are played their full salary regardless of whether they are on the injured reserve or not.
Teams can move injured players to the long term injured reserve for cap relief, but even then they must pay the player their full wages.
Do retired NHL players get paid?
Most NHL players don’t have backup plans for when they can no longer play the game. They spent so much time attempting to compete at the highest level of the game that it left no other time to learn other skills or trades. The question here is, do retired NHL players get paid? And if so, how much?
The NHL offers it’s retired players a pension. Every player who has ever played an NHL game is eligible for this pension. However, how much a player receives from the pension depends entirely on how many NHL games they have accumulated. The NHL’s pension has a maximum payout of $285,000.
For example, if a player has played in the NHL for 10 seasons having recorded 82 games played for each of those seasons (820 games played), he will be eligible for the maximum pension benefit.
A player who has spent his career between the AHL and the NHL who hasn’t reached the 800 games played threshold will still be eligible for the pension. But the amount they are eligible for is prorated for how many games the player has played.
Players are eligible to start withdrawing from their pension at age 45.
To put it simply:
A player who has met the 800 game threshold will earn the maximum $285,000 per year from the NHL’s pension benefit.
A player who has played 616 games will earn a slightly less prorated amount, roughly $228000 per year, from the NHL’s pension benefit.
Final thoughts
I always grew up thinking NHL players were paid per the game. But, as we now know, this isn’t true.
I think if I were in the NHL I would opt to have a contract much like John Tavares of the Toronto Maple Leafs, where the majority of my money is deposited into my bank at the start of each summer, wouldn’t that be awesome?
If your takeaway thoughts from this post are that you went into the wrong profession, don’t worry because that’s exactly how I feel now having written this entire thing.
While the average salary is $3.5 million, the minimum wage is $750,000, slightly up from $700,000 in 2020-21. Many players plying their trade in the AHL with one-way contracts earn the NHL minimum wage, as they're paid the same salary whether they suit up for their designated AHL or NHL team.
Gloves sit on the machine while a blower fan dries them out, so they'll be fresh to use by the time the next period begins. Some players even rotate through gloves during games, allowing them to keep their hands fresh and dry.
The primary reason NBA teams pay their players more money than NHL teams pay their players is due to revenue. The main two sources of revenue for pro sports teams are broadcasting rights for television and game ticket sales. The NHL receives a much smaller share of revenue from the different TV broadcasting networks.
1 Full retirement benefits are available at age 62, but players may start benefits as early as age 45 with reductions to reflect that they likely will receive benefits for a longer time.
Teams withhold the specified amount of a player's cumulative salary and bonuses in each pay period (players are paid on a bi-weekly basis, which equates to 12 paychecks a season), that is calculated by multiplying a player's earnings by the applicable escrow percentage for that period.
Come the playoffs, players continue to receive their salaries based on their annual contracts, since contracts are paid from July 1 to June 30. NHL players do not get paid a separate salary for playing in the postseason.
“It's actually pretty cool (to be in an NHL locker room during intermission),” forward Chandler Stephenson said. “Certain guys have their routine and what they do. Some guys get fully undressed. Some guys change their underwear.
Some players will take a shower during the intermission to feel revitalized for the upcoming period. Other players choose to meditate, closing their eyes, staying silent and visualizing their success for the remainder of the game.
The most common main course is pasta with meat or fish. In fact, in an article about hockey player diet plans by LAKings.com staff writer Deborah Lew, 15 of the 20 NHL players she surveyed said their pre-game meal consisted of pasta plus protein (chicken, fish, or beef).
The collective-bargaining agreement now rules that only players on three-year, entry-level contracts have roommates. After that, every player gets his own room on the road. Poulin doesn't think that's a good thing.
Full Service: You've been in the league for ten years and have received 82 games per season for pension purposes. If you reach this threshold, you will receive the maximum pension benefit, currently $255,000 per year. Partial Service: You've spent time with the big club, but also in the minors.
Provided your tax affairs are in order, and you have submitted all the required documents (such as a copy of your ID, a completed instruction form stating where the money should go, and proof of banking details), it normally takes 14 to 21 business days for the funds to be paid out.
According to FanBuzz, on average, a full-time NHL referee gets paid anywhere from $165,000 - $360,000 annually. This is approximately 10 percent of the average annual salary of an NHL player, who makes about $3 million per year.
An NHL player is paid between Oct. 15 and Apr. 15, based on a payment schedule that runs between 186 and 192 days; not every team plays 82 games in the same number of days. The checks typically arrive on the 15th and the last day of the month.
Conclusion. NHL players certainly aren't hurting for money. With a minimum salary of $700,000 for the 2019-2020 season, they are some of the highest paid people in the world and should be set for life if they manage their money correctly.
Players earn one quarter of a year's benefits for every 20 credited games, and they are vested in their benefits as soon as they earn them. A player who has earned 10 full years of benefits will have earned the maximum benefit payable by law.
Contrary to what fans might think, NHL players do not get an unlimited amount of free tickets to games. As per the rules in the collective-bargaining agreement, a player gets two free tickets to home games and must buy from the 50 allotted (100 during the playoffs) to each team for road games.
Players aren't limited to federal, state, and city income taxes though, as they also face jock taxes – but these aren't resident taxes, rather they are specifically designed to tax visiting workers. NHL players owe taxes in a number of states they visit and even some cities.
The Stanley Cup playoff beard has been an NHL tradition since the early 1980s, when the shaggy New York Islanders won four straight championships. It represents the players' singular focus, as if even personal hygiene is sacrificed in pursuit of hockey's holy grail.
Maher is also a member of the Hockey Hall of Fame. All 30 National Hockey League teams travel by charter aircraft or, in the case of teams like Detroit and Dallas, own their own planes. When Theoren Fleury travelled with the Flames during the pre-season, he was amazed at the change.
“After a game, there's generally no curfew unless we had another game the next day. So he'd throw and early curfew and do a room-check. I loved that — that was comical.
It's not uncommon for NHL players to use a new stick every game and their teams pay for them — an average of about $200 per stick, which is about $100 less than they cost in a sports store. The regular season is 82 games — not including practices — so the stick bill for NHL teams can get very expensive.
In recent years NHL teams generally give players 3-4 sets of white and dark jerseys annually, with special sets being introduced for alternate/heritage designs or special games.
Excellent recovery snack options include things like: Greek yogurt, fruit, and granola; a bowl of oatmeal topped with nuts & seeds & milk; a sandwich or wrap with lean meat and veggies; or a homemade trail mix with nuts, seeds, dry cereal, and dried fruit.
Greasy, fried foods and fatty desserts are filling and may leave your athlete feeling tired and sluggish. Skip the fries or pizza before practice, and keep fat content on the light side. Eat with food safety in mind.
Virtanen, who averages between six and 15 personal visitors per game, simply tells friends to text his dad if they want tickets, though the NHL's collective bargaining agreement only gives two complimentary seats per player on the home team.
NHL officials, as we stated earlier, are covered by a union, and their contracts are collectively bargained. Therefore officials are eligible for a pension and retirement fund and receive medical, dental, life insurance, career counseling and more.
While playing in the NHL doesn't pay nearly as much as the other major sports in the U.S., players can still make at least six-figures in the league. Most in the league will get a few million a year to go out and play the game of hockey.
The collective bargaining agreement for the NHL governs the finances for the entire league. In the NHL there is an escrow system, in which a portion of every player's salary is withheld in order to meet the 50/50 revenue split that is required between players and team owners.
At $5 million a year, a player who scores 50 goals gets $100,000 per goal scored. That seems like a huge number, yet a 50 goal player should easily get paid more than $5 million. At $10 million a year, that's $200,000.
Every NHL player is paid in American dollars, including those playing in the seven Canadian cities. So can Canadian players, who live year round in Canada, make up the tax gap by being paid in US funds.
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