What the heck is "first round money"?
The value of the contracts are determined by draft order and player position. A player selected 32nd overall will get a slightly worse deal than the 31st selected overall and a better deal than the 33rd overall. The fact that it happens to be the FIRST ROUND doesn't come into play.
In the end, the agents wait until the market has been established by one of the top 5 signing, then it trickles down until they feel pretty confident about what the number should be for their client. Agents are in no hurry because they really want to wait as much as possible for the market to establish itself.
Plus, having a client sign too soon and then get an undervalued contract means that next year's draft class will avoid you like the plague so, it's important to get the right value for the player.
Our 32nd player overall will make pick 32 money, not "first round money".
GO PHINS!