Coming out of college, Olsen had offers from both the Los Angeles Rams of the National Football League and the Denver Broncos of the rival American Football League. He chose the security of the NFL and signed with the Rams. Olsen's first contract was for around $50,000 for two years, plus a signing bonus. It was 1962, and the average football player salary at the time was around $12,000 a year. He was the first USU Aggie to be drafted in the 1st round of the NFL draft.