Along with the centrally contracted players, 72 semi-professionals in the trade will also get a major boost in their pay cheques amounting to a 40 per cent hike.
The Herald today reported the increase, facilitated by the US$50 million broadcasting deal with Sony India Television last year, amounted to a 40 per cent pay hike.
The new pay scales will be applicable with retrospective effect from June 1, 2006, which would mean any player contracted to NZC will receive a huge amount within the next month.
The new scale will see the top-ranked NZC-contracted player earn $174,000 as a retainer fee. However, players ranked 18 to 20 will receive an annual retainer of $72,000.
NZC is looking to provide it's players to the BCCI backed IPL for it's next edition.
However, NZC's new stance comes in a bid to please BCCI and make the unsanctioned ICL look less appealing as it has already lost ten players to the rebel league including star bowler Shane Bond.
''We're trying to get an understanding from the BCCI on whether there might be more opportunities freed up for New Zealand players,'' NZC chief executive Justin Vaughan said.
''It's hard to compete with the chequebook numbers of the ICL but it is god,'' Vaughan told the Herald today.
''If you're playing most of the games for the Black Caps you're doing very well. If you add on the potential to pick up IPL contracts, or play a stint in (English) county cricket, the compensation is very good."
Five New Zealand players were included in the first round of IPL contracts - Vettori, McCullum, Jacob Oram, Scott Styris and Stephen Fleming and could well bag a six-figure payment.