Salary Events in History

2015 Event - After a credit rating downgrade to 'junk' by Standard & Poor's, Brazil implements a $17 billion austerity package that will eliminate ten government ministries, cut public spending, and halt both hiring and salary increases in the public sector

1994 Event - Baseball owners impose salary cap, fiercely opposed by players

1994 Event - Court upholds NBA salary cap and draft rights

1992 Event - 27th Amendment ratified, prohibits Congress from raising its salary

1991 Event - NL Cy Young winner Doug Drabek wins record $3 mil salary arbitration

1991 Event - Wally Joyner wins record $2.1 million salary arbitration

1987 Event - Don Mattingly wins highest salary arbitration ($1,975,000 per year)

1987 Event - Tigers' Jack Morris awarded $1.85 million salary by arbitrator

1986 Event - Jack Morris agrees to salary arbitration with former team Tigers and accuses owners of collusion against free agency

1986 Event - Los Angeles Dodger Orel Hershiser is 1st to win a $1M salary by arbitration

1985 Event - Tim Raines is awarded a $12 million salary for 1985 by arbitrator

1983 Event - Fernando Valenzuela wins his salary arbitration of $1 million

1970 Event - Players and management end labor dispute up minimum salary to $12,000

1969 Event - U.S. Congress doubles president salary

1968 Event - Baseball announces a minimum annual salary of $10,000

1952 Event - U.S. Standard Board clears Stan Musial to get an $85,000 salary

1950 Event - Indians pitcher Bob Feller, after 15-14 season, takes $20,000 salary cut to $45,000, pay cut is Feller's own suggestion

1946 Event - Baseball grants $5,000 minimum salary

1932 Event - President Hoover cuts own salary 15%

1923 Event - Salary and price freeze in Germany

1923 Event - 2 "Black Sox" sue White Sox (unsuccessfully) for back salary

1873 Event - U.S. Congress and government raise own salary, retroactively

1853 Event - Cincinnati became 1st U.S. city to pay fire fighters a regular salary