Have you ever found yourself wondering how often your favorite basketball stars receive their hefty paychecks? Perhaps you’ve pondered over the rhythm of their income flow, curious about whether it’s a weekly, monthly, or maybe all at once. Well, you’re in the right place.
After some digging, I have concluded the following:
NBA players typically receive their salaries bi-weekly over one calendar year. However, players whose salaries are over the minimum salary can also agree to a monthly payment or 36-check schedule. It all depends on the player and his contract.
Intrigued? There’s more to this story. Stick around as we delve deeper into the nuances of NBA players’ pay schedules, including those exceptions that break the norm. You might be surprised by what you discover next.
Are NBA players paid weekly or monthly?
When it comes to the frequency of NBA players’ salaries, it’s usually neither a weekly nor a monthly affair. Instead, according to CBA, NBA players receive their paychecks twice a month, on the first and fifteenth.
This bi-weekly payment schedule, resulting in 24 paychecks spread throughout the year, is similar to many traditional jobs, providing a steady income stream for the players throughout the season.
However, the specifics can vary based on individual contracts and agreements. Some players may opt for different payment structures, negotiating terms that best suit their financial planning and lifestyle. For instance, some players might choose to receive a significant portion of their salary upfront when their contract begins, or they might take out a loan against their future earnings. We will cover this later in the article.
This flexibility means that the total amount of each paycheck can differ from player to player.
Take Lebron, for example. His salary this season is $44.47 million. After that, his salary will increase with the increase of salary cap every season. In the last season, his salary will reach $50,43 million. Of course, each season’s salary is divided into 24 payments, each time about $1.85 million, from November 1 of each year to November 1 of the next year.
Here are the 10 highest-paying NBA players in 2022/2023 and how much they make on each check (if they have 24 checks in a year).
| Player | Bi-Weekly Check |
| Stephen Curry | $2,002,917 |
| Lebron James | $1,853,124 |
| Kevin Durant | $1,838,326 |
| Bradley Beal | $1,803,302 |
| Damian Lillard | $1,770,520 |
| Giannis Antetokounmpo | $1,770,520 |
| Kawhi Leonard | $1,770,520 |
| Paul George | $1,770,520 |
| Klay Thompson | $1,691,670 |
| Kyrie Irving | $1,621,544 |
I would also note that not all NBA players have the same contract or receive the same amount of money each year. The average NBA player makes around $10 million per year, but this figure can vary wildly depending on the player’s skills, demand, and contract terms. The minimum salary for NBA players is between one and two million dollars annually, while the highest can reach into the hundreds of millions for multi-year contracts.
So, while the amounts might be vastly different from the average worker, the frequency of pay for NBA players aligns with many other professions. It’s one of the ways these extraordinary athletes are just like us, albeit with a few more zeros on their paychecks. But as a general rule, the bi-weekly pay schedule is the standard in the NBA.
In conclusion, the world of NBA salaries is a complex one, with various factors influencing how and when players receive their pay. But at its core, the system is designed to provide a steady income for players, allowing them to focus on what they do best: playing basketball.
In case you wondered about NBA players’ pensions, do not worry. They are well-covered. In fact, NBA has the best pension plans in all sports.
Factors influencing payment schedules
As we know, it all depends on the player and his contracts, but what are the influencing factors?
According to CBA, there are 4 of them:
Signing Bonuses
A signing bonus is a sum of money that a player receives for signing a contract with a team. This is typically a one-time payment made at the start of the contract and is separate from the player’s base salary. Signing bonuses can be used as an incentive to attract players to a particular team.
Advances
An advance is a payment made to a player before the regular payment schedule. For example, a player might receive a portion of their salary upfront at the start of the season. This can be beneficial for players who need immediate access to funds for various reasons, such as making large purchases or investments.
Loans
In the context of NBA salaries, a loan typically refers to a situation where a player receives a portion of their future earnings ahead of the regular payment schedule. This is similar to an advance, but it’s often used in situations where the player needs a significant sum of money. The amount received as a loan is then deducted from the player’s future paychecks.
Deferred Compensation
Deferred compensation involves delaying a portion of a player’s salary to be paid out at a later date. This can be a strategic move for tax planning or long-term financial management. For example, a player might choose to defer a portion of their salary until after they retire, providing them with a steady income stream during their post-playing years.
Also, if your thought injuries were one of them, you would be wrong. Namely, contrary to popular opinion, most NBA players (if not all) do get paid even if injured.
Do NBA players get paid during the off-season?
The answer is yes, NBA players do get paid during the off-season. Despite not playing games during this period, their salary payments continue as usual.
The NBA’s payment structure is designed to provide a steady income for players throughout the year, not just during the regular season. This means that the players’ annual salaries are divided into 24 payments, which are distributed on the first and fifteenth of each month, regardless of whether it’s the season or the off-season.
However, note that there are exceptions to this rule. Some players may negotiate different payment structures, such as receiving a larger portion of their salary upfront or at specific times of the year. These arrangements can affect the amount they receive during the off-season.
In addition to their regular salaries, NBA players can also earn money during the off-season through endorsements, sponsorships, and other business ventures. These sources of income are not tied to the NBA schedule and can significantly increase a player’s earnings.
Are NBA contracts guaranteed?
In the NBA, the bulk of player contracts come with an assurance of financial protection, a safety net irrespective of the challenges they might encounter in a given season. While this applies to the majority of contracts in the league, it might not be the case for some of the smaller ones, where the provision of guaranteed money might be conditional upon a player’s health status or on-court performance.
The term ‘guaranteed money’ signifies the fraction of a player’s income that is promised to them, irrespective of their on-field performance or potential injuries. Such a contract can’t be prematurely discontinued by either party as long as they comply with the basic behavioral norms outlined. While some contracts might include performance-based bonuses, there is a baseline amount that is assured in every NBA contract, as dictated by the terms of the CBA).
It’s also important to mention the inclusion of ‘Player Options’ and ‘Team Options’ in many NBA contracts. A Player Option, typically incorporated in the concluding year of a top-tier player’s contract, enables the player to choose to continue if they desire. In essence, the salary associated with a player option is assured as long as the player opts for it.
Conversely, a Team Option allows franchises to extend a contract by a few years, retaining the right to dismiss it and not sign the player for those years, thus not providing guaranteed money for the player in this context.
Contracts for rookies also contain guaranteed money. The initial two years of such contracts are fully assured, while the assurance for the third and fourth years is contingent on various conditions, including the team exercising these options prior to the deadline. If these conditions are met, the player is likely to have their income guaranteed for these years.
