Most Valuable Player
 
The MVP award is intended to annually recognize the one player in the league who has contributed the most to the success of the player's team.
 
Writers from the Baseball Writers Association of America who have earned the privilege of selecting the annual MLB award winners receive the letter below in the mail, along with their official Most Valuable Player ballot.
 
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Dear Voter:
 
There is no clear-cut definition of what Most Valuable means. It is up to the individual voter to decide who was the Most Valuable Player in each league to his team. The MVP need not come from a division winner or other playoff qualifier.
 
The rules of the voting remain the same as they were written on the first ballot in 1931:
 
1. Actual value of a player to his team, that is, strength of offense and defense.
2. Number of games played.
3. General character, disposition, loyalty and effort.
4. Former winners are eligible.
5. Members of the committee may vote for more than one member of a team.
 
You are also urged to give serious consideration to all your selections, from one to 10. A 10th-place vote can influence the outcome of an election. You must fill in all 10 places on your ballot.
 
Keep in mind that all players are eligible for MVP, and that includes pitchers and designated hitters.
 
Only regular-season performances are to be taken into consideration.
 
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There are rules to the voting, however the first sentence of the letter above more or less gives a voter the leeway to vote for whomever for whatever reason. The BBWAA began awarding the MVP trophy in 1931.

Cy Young
 
The Cy Young is awarded for pitching excellence. Members of the Baseball Writers' Association of America issue first, second, and third place votes for the top pitchers in each league. A first place vote is worth 5 points, a second place vote is worth 3 points, while a third place vote is worth 1 point. The points are totaled and the pitcher from each league with the highest total is awarded the Cy Young. Players also receive salary bonuses as part of the award. The Cy Young was first awarded by the BBWAA in 1956.

Gold Gloves
 
Gold Gloves, presented since 1957 by St. Louis-based Rawlings, are awarded for defensive excellence. Only one award is given per position for each league. Gold Gloves are voted on by managers and coaches before the end of the regular season. They may not select players on their own teams, and they vote only for players in their own league. Players also receive salary bonuses as part of the award.

Silver Slugger Award
 
Silver Sluggers are presented by Hillerich & Bradsby Co., the maker of Louisville Slugger bats. Like Golden Gloves, only one award is given per position for each league. Selections were based on a combination of offensive statistics, such as batting average, on-base percentage and slugging percentage, as well as general impressions of a player's offensive value. Winners are picked by major league managers and coaches, who were not allowed to vote for their own players. Players also receive salary bonuses as part of the award.

When are awards announced?
 
Almost all awards are announced are the end of post-season play. MLB specifically announces their Silver Slugger, Gold Glove, Rookie of the Year, Cy Young, and Most Valuable Player awards (in that order) during the first two weeks of November.