MLB Draft slot values: Here's how much money each pick is worth in 2024

In most drafts, teams only have to decide which prospects they like the most and how they fit in with the team. Baseball teams have to consider that, as well as the amount of money they have available.

The most complicated aspect of the MLB Draft is the bonus pool system. The signing bonuses are how teams convince players to sign with them rather than go to or return to college. Teams are allotted only a certain amount of money to spend on the players they select in the draft without incurring penalties.

Every pick in the first 10 rounds of the draft has a slot value that is pre-determined by MLB in order to develop a team's bonus pool. Teams do not have to adhere to the exact amount of a slot value, and often, the goal is to spend either more or less depending on the intentions of the player drafted.

Some teams will draft a player above where that player is expected to be selected and sign him to a bonus that might be under the original pick value but above that player's expectations. That could then allow that team to spend more on a later pick where a player might desire a larger bonus to turn down going to college.

All of that is why throughout the three-day MLB Draft, there will be plenty of strategizing going on as teams navigate their bonus pools to maximize value in the draft.

Here's what you need to know about the value of 2024 MLB Draft picks.

What are MLB Draft slot values?

Baseball teams have only a certain amount of money they can spend on signing bonuses to convince players to sign with the teams that draft them. That is called their bonus pool.

Teams can spend up to their allotted bonus pools on prospects. There are certain dollar amounts that are assigned to each pick. Teams can go over or under the slot value for draft picks, and there is often plenty of strategizing that goes into the decision making. For example, teams will often try to save bonus pool money early and give larger bonuses later in the draft to high-school prospects who might otherwise go to college.

Occasionally, teams will spend more than their bonus pool, which can result in penalties. Teams that spend 0-5 percent over their pool will face a 75-percent tax on the amount overspent. Teams can lose a first-round pick and incur a 75-percent overage tax by spending 5-10 percent over the pool. Additionally, teams can lose a first- and second-round pick and incur a 100-percent overage tax by spending 10-15 percent over the pool. Finally, teams can lose two first-round picks and incur a 100-percent tax for anything over 15 percent.

MLB Draft bonus pools

The Guardians have the largest bonus pool of any team in the 2024 draft at just over $18 million. The Astros, who have the smallest bonus pool, have just under $6 million to spend across their picks.

MLB Draft slot values

Slot values are courtesy of MLB.com.

Round 1

Prospect promotion incentive picks

Compensation picks

Competitive Balance Round A

Round 2

Competitive Balance Round B

Compensation picks

Round 3

Round 4

Compensation picks

Round 5

Round 6

Round 7

Round 8

Round 9

Round 10