How much money does an NHL Draft player make? Estimated salary, contract details & more

The 2023 NHL draft goes down on Wednesday and Thursday in Nashville, Tennessee.

With the draft taking place, 224 players will be selected for the NHL, but that does not mean all 224 will play. Some may not even sign a contract for a couple of reasons.

However, usually, all first-round picks sign their entry-level deal which is for three years, even if they won't play in the NHL next season.

NHL Draft: Estimated salaries for first-round picks

The NHL has a maximum amount entry-level players can sign for. For the 2023 NHL draft, all the players sign a three-year deal at a maximum of $950,000 per year. Although some players in the later rounds will sign for less than that, usually, all the first-round picks sign for $950,000.

However, the draft picks can earn more, as that figure does not include signing and performance bonuses, but there is a limit to that as well. The signing bonuses may not exceed 10% of the contract’s total and the performance bonuses can't exceed the maximum of $3.5 million. Those bonuses also count against the salary cap for the NHL team.

Once a player signs a deal, does the contract start?

Following the 2023 NHL draft, prospects who were picked will sign their entry-level deal. However, that does not mean they have to be in the NHL next season and if they aren't, the three years don't start then.

NHL teams have the right to send their picks back to their junior team or to college, but they must decide before they play 10 NHL games. Once they play 10 games it burns the first year of their deal.

We saw this last season with Brandt Clarke, who played nine games with the Los Angeles Kings and was sent back to OHL. Come next year, he still has three years left on his entry-level deal.

For the 2023 NHL draft, many scouts are torn on who will play in the NHL next season. Connor Bedard is a lock to stick in the NHL next season with the Chicago Blackhawks while Leo Carlsson is also expected to play in the NHL next season.

Outside of that, all the other players could go back to their junior teams or the NCAA and continue to develop outside of the NHL and not burn the first year of their entry-level deal.