The No. 32 overall pick signed his rookie contract Tuesday, the team announced. The deal, according to NFL Network Insider Ian Rapoport, pays out $9.47 million with a $4.97 million signing bonus.
As with all first-round picks, the four-year deal comes with a team option for a fifth season.
The Ravens traded into the final pick of the first round to swipe Jackson, sending second- and fourth-round picks to Philadelphia for the No. 32 selection and a later fourth rounder.
Jackson, a Heisman Trophy winner out of Louisville, was a polarizing draft prospect. Scouts either loved his tremendous upside or downgraded him severely, questioning his transition to the pro level.
Thus far we've only heard glowing reviews about the rookie during offseason workouts. Coach John Harbaugh said Jackson impressed with his accuracy. Veteran safety Eric Weddle told Good Morning Football last week that Jackson was "as talented of a player that I've seen coming into my 12th year."
With Joe Flacco remaining the starting quarterback, the Ravens have the luxury of bringing Jackson along slowly this summer and into the fall. If Baltimore's offense remains an inefficient, frustrating operation as it has the past few years, however, the calls for Jackson to take over the gig will become loud in the Charm City.