Art Monk, the Redskins' first-round pick in the NFL draft, will receive $500,000 in bonuses from a contract with the team that should earn him more than $1.2 million over the next six years. The Washington Post has learned.

Monk, a wide receiver from Syracuse, received a $200,000 bonus to sign a six-year pact with the Redskins, according to league sources.

He will get a $300,000 bonus once his career ends.That bonus will be handed out in $75,000 increments over a four-year period.

The large amount of bonus money was one reason Monk and his agent, attorney Richard Bennett, compromised with the club on their salary demands.

Bennett had wanted a yearly figure in the $150,000 to $200,000 range. Instead, sources said, Monk will receive $90,000 his rookie season, a figure that does no include any possible incentive bonuses he might earn during the year.

Over the remaining five years of the pact, Monk's salary will escalate by $10,000 to $20,000 a season. He will earn $150,000 to $175,000 a year by his sixth season.

Monk is the club's first opening-round draft choice since 1968. That unique status easily qualified him for becoming the highest-paid rookie in Redskin history.

But leauge sources say his overall contract is well within present money figures for NFL first-round picks. It is less than the $2 million contract the New York Jets gave Lam Jones, another wide receiver, but Jones was the second player chosen in the draft. Jones also received considerable bonus money, some of which the team reportedly can pay off within the next three years at a reduced rate.

Fullback John Riggins currently is the highest-paid Redskin, at $300,000 a year. He received that lucrative pact when George Allen was both coach and general manager of the team.