Michael Jordan’s Contract Breakdown: From $550,000 As A Rookie To Earning More Than The Entire Chicago Bulls Team In 1998

By now, the world knows the story of Michael Jordan. Around the world, Jordan is viewed as the greatest basketball player of all time. With six championships, including a perfect 6-0 record in the NBA Finals, with the Chicago Bulls, Jordan was also a six-time Finals MVP winner and was named to the All-Star team 14 times. On top of that, Jordan won 10 scoring titles and made the All-NBA First Team 10 times, as well as the All-Defensive First Team nine times.

Jordan’s accolades and accomplishments are why he is often used as the variable when comparing other players to the greatest of all time. What we don’t talk about enough is how he was producing way more than what his contract asked him to do. Jordan was not the highest-paid player in the league very often. For someone often thrown into the MVP race, you would have expected Jordan’s contract to be near the top.

That was not what happened. Let’s take a look at the contract breakdown of Jordan’s career.

1984-85 NBA Season – $550,000 Salary

Stats: 28.2 PPG, 6.5 RPG, 5.9 APG, 2.4 SPG, 0.8 BPG

Jordan was drafted third overall behind Hakeem Olajuwon and Sam Bowie. The Rockets and Trail Blazers were in search of a center, so Jordan dropped to third. However, Portland is likely kicking themselves at having the opportunity of Clyde Drexler and Jordan teaming up next to each other.

It was a sensational rookie season for Jordan. After leading the league in total points, Jordan was named the Rookie of the Year. Jordan shot 51.5% from the field and helped the Bulls make the playoffs after missing out on the previous three seasons. Around the league, Jordan was viewed as the next star of the league.

1985-86 NBA Season – $630,000 Salary

Stats: 22.7 PPG, 3.6 RPG, 2.9 APG, 2.1 SPG, 1.2 BPG

Jordan was already viewed as a starter heading into his next season. During an exhibition game in Trieste, Italy, Jordan shattered the glass of the backboard with a dunk. The shoes that were worn during this game sold in 2020 for $615,000, which was nearly Jordan’s entire salary this season.

The sophomore campaign was cut short, though. Jordan broke his foot in the third game, and it caused him to miss 64 games. The Bulls made the playoffs despite a 30-52 record, but this particular season was one of the worst of his career from a regular-season standpoint. However, in the playoffs, Jordan set a record for points in a playoff game with 63 in Game 2 against the Celtics.

1986-87 NBA Season – $737,500 Salary

Stats: 37.1 PPG, 5.2 RPG, 4.6 APG, 2.9 SPG, 1.5 BPG

Back to full health, Jordan completely took over this season. Jordan led the league in total points with 3,041 points per game. Jordan also led the league in made field goals (1,098), field goal attempts (2,279), two-point field goals (1,086), and two-point field goal attempts (2,213). Jordan’s 833 free throws and 972 attempts also were at the top.

Jordan’s player efficiency rating (29.8), win shares (16.9), and value over replacement player (10.6) also led the league. Jordan used a league-high 38.3% on offense. Despite the success, Magic Johnson won the league MVP Award.

1987-88 NBA Season – $845,000 Salary

Stats: 35.0 PPG, 5.5 RPG, 5.9 APG, 3.2 SPG, 1.6 BPG

After scoring over 37 points per game, one would think that Jordan would have regressed the following season, but that was not the case. Jordan shot 53.5% from the field and won his first league MVP Award. Jordan was also named Defensive Player of the Year with 1.6 blocks and a league-high 3.1 steals.

The Bulls’ defense led the league in points allowed, with Jordan leading the way. The team finished with 50 wins and made it out of the first round of the playoffs for the first time in Jordan’s career. Chicago’s run ended in the second round against an experienced “Bad Boys” Detroit Pistons team.

1988-89 NBA Season – $2,000,000 Salary

Stats: 32.5 PPG, 8.0 RPG, 8.0 APG, 2.9 SPG, 0.7 BPG

Once again, Jordan led the league in scoring and shot 53.8% from the field. He also had a run at averaging a triple-double during the season. With Sam Vincent having issues running the offense, Jordan ran the table at point guard and averaged 10 triple-doubles in 11 games. The stat line of 33.6 points, 11.4 rebounds, 10.8 assists, 2.9 steals, and 0.8 blocks remains a legendary stretch.

In the regular season, Jordan led the league in total points (2,633), made field goals (966), minutes (3,255), and swept the advanced stats of player efficiency rating (31.1), win shares (19.8), and value over a replacement player (11.4). The Bulls won 47 games and advanced to the Eastern Conference Finals but were once again defeated by the Pistons, which included triple-teaming Jordan at some points.

1989-90 NBA Season – $2,250,000 Salary

Stats: 33.6 PPG, 6.9 RPG, 6.3 APG, 2.8 SPG, 0.7 BPG

With a team on the rise, the Bulls legitimately believed that this was a title contender. With Scottie Pippen and Horace Grant, as well as a new head coach in Phil Jackson, the Bulls believed it was championship or bust. Jordan played his part by leading the league in scoring and win shares. Jordan once again scored the most points (2,753) while also leading the league in steals (227), made field goals (1,034), and two-point field goals (942).

Jordan’s PER, win shares, and value over a replacement player led the league once again. Jordan used a league-high 33.7% on offense. The team won 55 games and made the Eastern Conference Finals again but were once again defeated by the Pistons for the third consecutive year.

1990-91 NBA Season – $2,500,000 Salary

Stats: 31.5 PPG, 6.0 RPG, 5.5 APG, 2.7 SPG, 1.0 BPG

This is the first year that HoopsHype has a record for tracking players’ salaries. Jordan was a former MVP and had led a Bulls team to the Conference Finals for two straight years. Jordan was eighth in the league with his player salary, with Danny Ferry and Hot Rod Williams making more money. Jordan’s nemesis, Isiah Thomas, was making $220,000 more, but there was a valid argument for that.

Jordan had a sensational season by leading the league in total points (2,580) and won another scoring title. Jordan made the most field goals (990) and two-point field goals (961) and swept the PER, win shares, and value over a replacement player. In the playoffs, Jordan won his first Finals MVP as the Bulls defeated the Lakers in the NBA Finals.

1991-92 NBA Season – $3,250,000 Salary

Stats: 30.0 PPG, 6.4 RPG, 6.1 APG, 2.3 SPG, 0.9 BPG

Fresh off winning a championship, Jordan’s value increased compared to those around the league. Jordan’s salary was fifth in the league behind Reggie Lewis, Kevin McHale, Hot Rod Williams, and Larry Bird. The salary of Bird was over $7 million, but that was money well earned for his run with the Celtics in the 80s.

Jordan was going to get his due down the line, but for now, he kept shooting his way to another scoring title. Jordan scored the most total points (2,404), field goals (943), and two-point field goals (916). It was another year of leading the PER, winning shares, and value over a replacement player. After one year off, he led the league in usage percentage once again (31.7%). In the playoffs, Jordan led the Bulls to their second championship with a win over the Trail Blazers.

1992-93 NBA Season – $4,000,000 Salary

Stats: 32.6 PPG, 6.7 RPG, 5.5 APG, 2.8 SPG, 0.8 BPG

Jordan was coming off back-to-back MVP Awards and Finals MVP trophies. There was not a better player in the league at this time. For a moment, his salary reflected that. The $4 million salary was second in the league and trailed only the $5.7 million owed to David Robinson. Jordan’s salary would have been around $8.4 million in today’s world.

Charles Barkley won the MVP Award, but Jordan won another scoring title and led the league in total points (2,541). He also led the league in steals (221), field goals (992), two-point field goals (911) and swept the advanced stats. He once again led the league in usage percentage (34.7%). In the playoffs, the Bulls completed the three-peat with a win over the Suns in the NBA Finals to claim his third straight Finals MVP Award.

1993-94 NBA Season – $4,000,000 Salary

Stats: None

On October 6, 1993, Jordan announced he would be retiring from the league. Three months prior, Jordan’s father was murdered at a highway rest area. Due to this circumstance, Jordan said he lost a desire to play. He surprised the world by signing a Minor League Baseball contract with the Chicago White Sox.

Jordan played in the minors for the entire basketball season. Meanwhile, Pippen rose to become the leader of the team. Jordan’s salary was fifth in the league and tied with Ron Harper at $4 million. With three championships to their name, it was a sunk cost that paid off for the future.

1994-95 NBA Season – $3,850,000 Salary

Stats: 26.9 PPG, 6.9 RPG, 5.3 APG, 1.8 SPG, 0.8 BPG

Without Jordan, the Bulls went 55-27 but lost to the Knicks in the second round of the playoffs. The Bulls struggled during this season and were 31-31 in mid-March. However, the team was elated to find out that Jordan came back out of retirement to join the team. Despite being gone for 18 months, Jordan didn’t skip too much of a beat by scoring 19 points in his first game back.

The Bulls qualified for the playoffs and made the second round of the playoffs. The team was defeated by the Orlando Magic in six games. Other players around the league received some hefty pay increases, as Jordan’s salary was 16th in the league. With that said, the Bulls had paid nearly $8 million for 17 regular season games in the last two years.

1995-96 NBA Season – $3,850,000 Salary

Stats: 30.4 PPG, 6.6 RPG, 4.3 APG, 1.7 SPG, 0.5 BPG

After the brief hiatus from basketball, Jordan bet on himself, and it worked. Jordan’s salary was 32nd in the league, with players like Shawn Bradley, Sam Perkins, and Derrick Coleman making more money. MJ led the Bulls to a memorable season that saw the team win an NBA record of 72 games. Jordan won the scoring title and scored the most points (2,491). Jordan won the league MVP Award for his amazing season.

The season featured Jordan leading the league in made field goals (916), two-point field goals (805), and a sweep of win shares, value over a replacement player, and usage percentage (33.3%). The Bulls made it back to the NBA Finals and defeated the Seattle SuperSonics. After the win, money was far from a worry, as Jordan was seen clutching the game ball and crying on the locker room floor.

1996-97 NBA Season – $30,140,000 Salary

Stats: 29.6 PPG, 5.9 RPG, 4.3 APG, 1.7 SPG, 0.5 BPG

After years of hovering in the middle of the pack, the Bulls rewarded Jordan with a contract that matched his worth. Jordan’s $30 million contract would be worth $56.9 million in today’s NBA. The second-highest-paid player in the league was Horace Grant at $14.8 million. Doubling his salary, there was no doubt that the Bulls saw Jordan as the best, and they certainly paid him like it too.

Jordan rewarded the investment with a near-MVP season. Karl Malone was the league MVP, but Jordan led the league in total points (2,431) and field goals (920) and won another scoring title. Jordan used a league-high 33.2% on offense and took the win shares and value over a replacement title. In the playoffs, Jordan got his revenge over Malone in the NBA Finals to claim his fifth Finals MVP Award.

1997-98 NBA Season – $33,140,000 Salary

Stats: 28.7 PPG, 5.8 RPG, 3.5 APG, 1.7 SPG, 0.5 BPG

The most money Jordan made in a single season was also the most money in the entire NBA. The $33 million that Jordan earned this season would be equivalent to $61 million in today’s league. There are only a few players, such as Stephen Curry, Giannis Antetokounmpo, and Damian Lillard, that are going to sniff that type of salary for a single season. Jordan’s salary was nearly $13 million more than runner-up Patrick Ewing.

The season would be the last great season of Jordan’s career. Jordan won his fifth MVP Award by leading the league in points (2,357), won another scoring title, and led the league in field goals (881), two-point field goals (851), and usage percentage (33.7%). The Bulls made the Finals for the last time to win their sixth championship in the 90s, including their second three-peat of the decade. Jordan capped off his perfect run in the Finals with his sixth Finals MVP Award.

2001-02 NBA Season – $1,000,000 Salary

Stats: 22.9 PPG, 5.7 RPG, 5.2 APG, 1.4 SPG, 0.4 BPG

For the second time, Jordan returned to the league after retirement. While Jordan might not have been at peak performance, he was a solid scorer in the league that averaged over 20 points per game. The $1 million salary was 311th in the league. It was an injury-plagued season for Jordan, but he led the Wizards in points, assists, and steals.

At one point, Jordan was in the MVP conversation but finished 13th. Jordan started 53 of his first 60 games but was in a reserve role the last few games of the season. The Wizards finished 37-45 after the season. It was a value contract for the product received.

2002-03 NBA Season – $1,030,000 Salary

Stats: 20.0 PPG, 6.1 RPG, 3.8 APG, 1.5 SPG, 0.5 BPG

Jordan’s salary was 308th in the league in his final season. Jordan spent the season as a farewell and accomplished multiple records. That included passing Kareem Abdul-Jabbar in scoring in All-Star games. He was the only player on the Wizards to play in all 82 games, where he made 67 starts.

With his season-high 43 points, he became the first 40-year-old to tally 43 points in an NBA Game. The Wizards missed the playoffs, which included Jordan criticizing multiple members of the team for their lack of focus. In his final appearance, he received a standing ovation from the 21,000 fans in attendance. 

Career Earnings – $93,772,500

With the salaries in the NBA today, it’s unfair to compare his salary to those in NBA history, but he was never hurting for money. Jordan was getting endorsement deals that helped him become a billionaire. Between his shoe deal and his time with Nike, Jordan generated enough money to one day become the owner of the Charlotte Hornets, a position where he remains today.

If we compare his single salary to those around the league, we could talk about how Patrick Ewing often made more money than Jordan. Had Jordan played in New York, could we be talking about a salary that doubled his worth? Instead, Jordan’s main focus was winning in the beginning. He was supplemented with two great single-season salaries; however, with six titles, Jordan’s worth was worth more.  

If you are interested in more NBA news, follow us on Google News for the latest updates. 

Next

Michael Jordan’s MVP Points Per Season: The GOAT Won 5 MVP Awards And Came Second 4 Times

The NBA Players Who Have Won The Most Finals MVP Awards: Michael Jordan Is The Real GOAT With 6 Trophies

Magic Johnson’s Contract Breakdown: From $460,000 As A Rookie To A 25-Year And $25 Million Contract Extension

Charles Barkley’s Contract Breakdown: From $307,000 As A Rookie To $9,000,000 In His Last Season With The Rockets

Kevin Garnett’s Contract Breakdown: From High School To $343 Million In His NBA Career