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How much will 2024 NBA draft picks be paid? Rookie salary, contract details for first round picks

Portrait of John Leuzzi John Leuzzi
USA TODAY NETWORK

The 2024 NBA Draft has arrived.

And for the second straight season, the No. 1 overall pick in the NBA draft will likely come from France, as several NBA draft analysts, including USA TODAY Sports' Jeff Zillgitt and Scooby Axson, have Zaccharie Risacher following up Victor Wembanyama as the first pick of the night inside the Barclays Center in Brooklyn, New York.

For the 30 players selected Wednesday in the first round, the moment hearing their name called by NBA commissioner Adam Silver will symbolize a journey of ups and downs being cashed in for a lifelong dream of playing the NBA.

REQUIRED READING:Five players in 2024 NBA draft who fit Trajan Langdon's vision for Detroit Pistons

And while the terms — value and length — of an NBA rookie contract is set by the NBA's collective bargaining agreement (CBA) with a "Rookie Scale Value", curiosity has risen heading into Wednesday's first round on how much each player will make in the NBA, depending on where he is taken.

Here's what you need to know on projected slot values for each of the Round 1 picks for the 2024 NBA Draft along with how rookie contracts work in the NBA:

How long are NBA rookie contracts?

As noted in Article 8 of the NBA's collective bargaining agreement (CBA), those selected in the first round of the NBA draft receive a four-year rookie scale contract with the first two years guaranteed and team options for Year 3 and Year 4.

"Each rookie scale contract between a team and a first-round pick shall cover a period of two (2) Seasons, but shall have an option in favor of the team for the player's third season and a second option in favor of the team for the player's fourth Season," the NBA's CBA reads.

"The option for the player’s third season shall be exercisable during the period from the day following the last day of the first season through the immediately following Oct. 31. The option for the player’s fourth season shall be exercisable during the period from the day following the last day of the second season through the immediately following Oct. 31."

A first-round pick can sign for 80% to 120% of their respective rookie-scale figure, which the NBA pre-sets each year based on the cap space. In addition, the Average Annual Value (AAV) for a first-round draft pick increases each season by a specific percentage across the four years.

As for second-round picks, and as noted by Forbes.com, the NBA's new CBA — under Article 7, Section 6, Paragraph K — allows NBA teams to sign their second-round picks to three-or-four-year contracts without utilizing their cap space. Second-round picks can also be signed to a two-way NBA contract.

REQUIRED READING:Detroit Pistons mock NBA draft 3.0: Trajan Langdon listening to offers for the No. 5 pick

How much do first-round picks get paid in 2024 NBA Draft?

All figures below are based on estimates on a 120% scale Rookie Scale courtesy of Spotrac

  1. $57.19 million
  2. $51.18 million
  3. $45.98 million
  4. $41.47 million
  5. $37.57 million
  6. $34.13 million
  7. $31.17 million
  8. $28.57 million
  9. $26.27 million
  10. $24.96 million
  11. $24.02 million
  12. $23.09 million
  13. $22.20 million
  14. $21.35 million
  15. $20.53 million
  16. $19.50 million
  17. $18.53 million
  18. $17.61 million
  19. $16.83 million
  20. $16.16 million
  21. $15.70 million
  22. $15.24 million
  23. $14.80 million
  24. $14.37 million
  25. $13.95 million
  26. $13.50 million
  27. $13.11 million
  28. $13.03 million
  29. $12.94 million
  30. $12.84 million

First Round NBA Draft 2024 Order

  1. Atlanta Hawks
  2. Washington Wizards
  3. Houston Rockets (via Brooklyn Nets)
  4. San Antonio Spurs
  5. Detroit Pistons
  6. Charlotte Hornets
  7. Portland Trail Blazers
  8. San Antonio Spurs (via Toronto Raptors)
  9. Memphis Grizzlies
  10. Utah Jazz
  11. Chicago Bulls
  12. Oklahoma City Thunder (via Houston Rockets)
  13. Sacramento Kings
  14. Portland Trail Blazers (via Golden State Warriors via Boston Celtics and Memphis Grizzlies)
  15. Miami Heat
  16. Philadelphia 76ers
  17. Los Angeles Lakers
  18. Orlando Magic
  19. Toronto Raptors (via Indiana Pacers)
  20. Cleveland Cavaliers
  21. New Orleans Pelicans (via Milwaukee Bucks)
  22. Phoenix Suns
  23. Milwaukee Bucks (via New Orleans Pelicans)
  24. New York Knicks (via Dallas Mavericks)
  25. New York Knicks
  26. Washington Wizards (via Los Angeles Clippers via Dallas Mavericks and Oklahoma City Thunder)
  27. Minnesota Timberwolves
  28. Denver Nuggets
  29. Utah Jazz (via Oklahoma City Thunder via Toronto Raptors and Indiana Pacers)
  30. Boston Celtics
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