:format(webp)/cdn.vox-cdn.com/uploads/chorus_image/image/72394360/1258725354.0.jpg "NBA draft picks salary: How much money does No. 1 overall pick in 2023 draft make?")
The 2023 NBA Draft is underway from the Barclays Center in Brooklyn, New York, and the San Antonio Spurs opened the festivities by taking generational French big man Victor Wembanyama with the No. 1 overall pick. That just leaves the question of much will the incoming phenom make as a rookie.
The first-year salary for the No. 1 pick in 2023 is $9.83 million, although that can vary because players can sign for anywhere between 80% and 120% of his value. For example, 2022 No. 1 pick Paolo Banchero's salary in his rookie season was $11.05 million. The No. 1 overall pick scale for the 2023-24 season is part of the overall rookie contract scale. Each first-round pick has a salary scale which is guaranteed under the CBA. Second-round picks do not have guaranteed contracts.
Using the same scale, the player picked No. 1 in 2023 makes $10.48 million in his second year. The third year is a team option, which carries a value of $10.98 million. Years four and five are a bit different because they are based on a set percentage increase in the salary in the third year. The fourth year is a team option and is a 26.1% increase from the player's third-year salary. If this scale is maintained, that would be $13.36 million as the fourth-year team option amount.
The fifth year is a qualifying offer, which sets up a player for restricted free agency. For the No. 1 overall pick, this is a 40% increase from the fourth-year team option. If the above scale is maintained, that amount would be $16.35 million. It is rare for anyone to play on this offer as the person either signs an offer in restricted free agency or the team opts out of the contract.