They are paid considerably less than active squad players ($4700 per week or $80,000 per season, in comparison to the NFL minimum rookie salary of $285,000).
the general manager
To try out for the practice squad, players cannot have more than one year of NFL experience. Playing on the practice squad for a total of three weeks counts as one season. A player can be on the practice squad for two seasons. The practice team is made up of players cut from the regular NFL active roster.
53 players can be on the active roster. The amount of players on IR and the Practice squad can vary from team to team
Yes. All NFL salaries are paid over the regular season. There is a small amount of extra pay that NFL players get for the postseason but it is a pittance next to their regular compensation.
Each NFL team has 53 players plus the five extra for a practice squad, there are 1,696 players in the NFL. There are 32 teams in the NFL.
In the new NFL collective bargaining agreement, for the 2011 and 2012 seasons, the league minimum for the practice squad was $5,700 per week.