2.7 million
I think you and BigMike are talking about the average salary in MLB, not the league minimum. But the minimum is still good money, about $429,000. Especially considering you also get the meal money per day and all your travel expenses covered. Unlike golf, tennis, etc where until you are good enough to get a sponser you have to pay for everything.
Plus, most teams put out big spreads of food and sometimes beer and or liquor for post game, in addition to your daily meal money.
Players are also earning nice contracts earlier. Hanley Ramirez, who's been making the league minimum, just signed a big contract barely a month into his third season. And Ryan Braun got a team record contract six weeks into his second season. College stars in football and basketball get big money before they even play one game in the pros. But Baseball gives out a good signing bonus, millions if you are top 10, even though your salary is very low until you make the majors. Still, you can get the big money right out of high school, and are still earning some money in the minors.
And the average career is so much longer in MLB, plus all the money is guaranteed.