Being a college football or basketball coach has to be stressful.
There are many late nights in the office studying tape. There are the road trips that take multiple days. And then there are the 17-year-old recruits who can’t decide where they want to go to college. With all of this, a college coach’s lifestyle has to take a toll on his or her family.
Trust me, I know. Long hours of NCAA Football 07 (and soon to be 08) have taught me a lot about what it’s like to be a college football coach.
All kidding aside, it just simply isn’t as glorious of a job as many people think it is. I’m sure it can be fun and it has its benefits, but the job security is low and the stress level is high.
With that said, the salary of college football and basketball coaches is outrageous.
College coaches are overpaid — vastly overpaid.
However, even though some believe it can and should change, it never will. While I do believe they are overpaid for the work they do, their salary has some merit. The number one reason is that college coaches bring in millions of dollars to the University.
And whether a team wins or loses has a huge impact on the University as a whole.
According to a press release from George Mason nearly three months ago, applicant, alumni and fundraising numbers saw a stunning increase after the men’s basketball team had its run to the Final Four.
Freshman applications increased nearly 20 percent, campus tours from students and parents nearly tripled, donations to athletic programs increased almost 25 percent, general scholarship support nearly tripled, unrestricted gifts to the University increased almost 45 percent and there was a 25 percent increase in active alumni. This list goes on.
You can thank the players, but George Mason coach Jim Larranaga deserves a huge pat on the back for that run.
Larranaga had an impact — one that no chancellor could match.
While it’s understandable that coaches play a huge role in the university, most Americans believe college football and basketball coaches are overpaid.
According to a study named the Knight Commission, nearly 75 percent of Americans in the survey disagree that “successful college football and basketball coaches deserve to earn millions of dollars.” Moreover, nearly 80 percent of the people polled said they are “concerned that football coaches are often the highest paid person at a school participating in big-time college sports.”
I’m in the majority. It doesn’t make sense that the chancellor makes less money than the football coach — same for the top researchers or professors at a particular university. Heck, assistant coaches make more than nearly anyone else on campus.
But this is where economics comes into play: there is a high demand for great coaches, but the supply isn’t there. It’s mathematically impossible for there to be a ton of great coaches — every coach can’t win every game. So, the coaches that are winning can name a price.
Who is out there bargaining for researchers and top professors? Well, on second thought, I’m sure there are people out there. But there aren’t hundreds of rabid fans and message board junkies arguing over who deserves $1 million dollars to come research a new plant.
But at every college, there are fans arguing over who deserves to be the next football or basketball coach. Sadly, that’s what’s more important to most people (myself included).
State got a “deal” with Tom O’Brien and Sidney Lowe. Both make just less than a quarter million in base salaries. Add in the endorsements and the two coaches sit at about $1 million a year each.
While that’s a lot of money, it appears to be a bargain when compared to other coaches across the country — Alabama football coach Nick Saban makes at least $4 million guaranteed a year while Florida basketball coach Billy Donovan is guaranteed at least $3 million this season.
Supply and demand. Donovan and Saban have both won national titles and in today’s sports world, that’s worth millions. I disagree that a coach is “worth” more than $3 million dollars a year, especially a college coach.
But if they are bringing millions to the University and the fans and alumni continue to spend money, salaries aren’t going to come down anytime soon.