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Old 10-05-2018, 01:12 PM   #1
Curtis
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Determining salary ranges for historical players

I've been more or less out of touch with OotPB for several versions now, so this may no longer be relevant, but the last time I read anything about this, the way player salaries for past seasons were calculated was by taking the numbers for the current year and dividing them by the increase in CPI since the year in question. That's simple and makes sense, but there may be a way that yields results closer to the historical values — though still a little high.

https://www.measuringworth.com/calculators/ppowerus/

This site lists a range of possible values today for 'X' number of dollars in the year 'Y'. If you use the highest value they calculate (the relative output) you find that Hank Greenburg's $55,000 in 1941 is the equivalent of $8,290,000 today. Using a conventional CPI calculator you find it only comes to $969,790.

In other words, using the relative output calculation you get closer to Greenburg's actual salary by a factor of about nine. Note that, since sports salaries have increased vastly faster than the rate of inflation, you'd still end up paying Greenburg in the game three or four times what he was paid in real life, but you're at least in the right order of magnitude now.

Using the same relative output calculator, a player making $25 million today would have been paid around $170,000 in 1941 or $10,000 in 1871. Too high, but not outrageous, and maybe closer to what those players actually deserved.

Something to think about. The financial side of this game can always stand some adjustment.
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