The average Premier League footballer now earns £30,000 a week, figures from Deloitte's Sports Business Unit have revealed.
The data shows that the average UK top flight wage has doubled in the last six years - meaning a footballer earns more than the average national annual wage in a week.
Figures for the 2011-12 season show that £1.66 billion was spent on wages across the Premier League.
No club spent more than Manchester City, who shelled out £202 million and were champions that season, while Swansea spent the least, paying their players a total of £35 million.
Aston Villa spent the largest proportion of their revenues on wages - 94% - while Norwich City spent the smallest proportion, at 49%.
The increase in wages is expected to continue as the new television rights deal makes around £25 million extra available to each top division club.
Although there have been increasing calls for clubs to contain soaring wages - and Premier League spending controls, to come in next season, are intended to do so - Deloitte predicts that around £480 million of the extra television cash will be spent on them.
Alan Switzer, a director in the Deloitte sports business group, said: "The Premier League clubs have agreed to a system of enhanced financial regulations, designed to improve the sustainability of its clubs.
"The successful implementation of these rules, coupled with the imminent boost to broadcast revenues, could provide huge benefits to the long-term development, growth and stability of the game and its clubs."