'Young Sheldon' Star Iain Armitage Projected to Reach Millionaire Status After Season 2

The star of CBS spinoff hit Young Sheldon is reportedly one season away from becoming a young millionaire.

Iain Armitage, the young actor who plays the young version of The Big Bang Theory character Sheldon Cooper is set to receive a sizable bump to his bank account due to the success of the spinoff series.

According to the actor's contract, obtained by TMZ, the young actor was paid $30,000 for every episode of season 1, total of $660,000 for 22 episodes.

With the series set to return in September, also at 22 episodes, Armitage will reportedly receive a pay bum of $31,200 per episode. The increase comes out at a more than $26,000 raise.

Overall for just the first two seasons of the series, Armitage is set to earn a total of $1.35 million, and that doesn't include his earnings for his role on the critically-acclaimed HBO series Big Little Lies.

The outlet also reports that in the event the series gets renewed for a third season, Armitage will again receive a pay bump.

Young Sheldon — executive produced by Chuck Lorre, Steve Molaro, Jim Parsons and Todd Spiewak — was the No. 1 new comedy in viewers, adults 18-49 and adults 25-54 and the No. 2 comedy in all of television, behind its predecessor The Big Bang Theory, for the majority of its first season run. The series was bumped to No. 2 with the premiere of the Roseanne reboot.

The spinoff series secured a second season back in January, thanks to its massive success in the ratings.

"Young Sheldon has made a huge impact on our schedule in the short time it's been on the air," CBS Entertainment President Kelly Kahl said. "While the show's DNA is clearly rooted in The Big Bang Theory, Young Sheldon has staked out its own place in the TV universe with a unique creative tone, brilliant writing and a gifted multi-generational cast."

He added, "We can't wait to see Chuck (Lorre), Steve (Molaro), Jim (Parsons) and Todd (Spiewak)'s vision for how the Cooper family deals with Sheldon growing a year older... and smarter."

Along with Armitage, the series stars Zoe Perry, Lance Barber, Annie Potts, Raegan Revord and Montana Jordan. Parsons also serves as the narrator for the series.

The series, along with its flagship show Big Bang Theory, will have a special premiere Monday, Sept. 24 — Big Bang at 8 p.m. ET followed by Young Sheldon at 8:30 p.m. — and then air a second episode on its normal day and time on Thursday, Sept. 27.