How much do first-round picks in the MLB Draft make?

The 2023 MLB Draft is set to get underway later tonight, with rounds one and two beginning at 7 p.m. ET from Qwest Field in Seattle. With a class absolutely chock full of high-end, franchise-altering talent, this draft promises to be one of the most significant in recent memory — but how much will the best prospects be getting paid?

If you’re new to baseball’s unique draft system, each choice in the first 10 rounds of the MLB draft comes with an assigned monetary value; the No. 1 overall pick is most expensive, and so on in descending order. Add the values of each team’s picks together, and you get that team’s total bonus pool — i.e., what it can spend over those first 10 rounds. (If a player taken in the top 10 rounds doesn’t sign, his pick’s value gets subtracted from his team’s pool.) Teams are allowed to exceed the assigned value of an individual pick — you’ll often hear about teams signing picks “above slot” or “below slot” — but they can’t exceed their overall pool amount without incurring a penalty.

Here we’ll go over salary breakdown for each first-round pick. Below is a table that features the allotted bonus amount for each of the draft pick slots for the first round. (This also includes compensatory picks at the end of the first round and before the second round.) The Pirates’ No. 1 overall selection is valued at $9,721,000, with each pick steadily decreasing from there.