Prior to the carnival that was Syracuse's 2011-12 season, Jim Boeheim got a big raise
The market drives what the market drives, but I was a little surprised when I saw the bottom line on Jim Boeheim's tax return. One of the most recognizable faces in college basketball, a guy who's dedicated 99 percent of his basketball life to Syracuse, won a national championship in the past decade and is closing in on 900 wins, didn't even make $2 million last year.
Mike Krzyzewski? Easily clearing $7 million every 12 months.
What's more remarkable is, prior to mid-2010, Boeheim wasn't even making $1.5 million per year. That kind of acceptance of salary speaks to Boeheim's character and comfort with the school, sure, but also reminds me about learning that Joe Paterno and John Wooden, decades into their career, were making thousands and/or millions less than their less-accomplished contemporaries. It's a mindset from an era that's about expired.
But thanks to a big ol' raise -- 33 percent -- which grossed him $1.9 million between July 1, 2010 and June 30, 2011, Boeheim became the university's top-paid employee, a spot reserved for the football coach at most BCS schools.
The Post-Standard reported the numbers over the weekend.
As a comparison, SU football coach Doug Marrone earned $1.1 million, which further goes to show what I've always believed: Syracuse is a basketball school, not a football one. A few Syracuse grads have debated this with me over the years, but another example of proof -- outside of the general perception that Syracuse is known more for its hoops than pigskin -- can come in a university's dedication to its coaching by way of its funding. Boeheim's tenure and loyalty aside, the school still isn't willing to fork over big money to lure in a big-time football coach.
Though it does present an interesting question. When Boeheim's successor is hired -- and right now, assistant coach Mike Hopkins is the choice-in-waiting -- what will the pay be? And how will that compare to other top-10 national programs? Is it likely that a private institution like SU will be giving out lighter checks than the others?
Mike Krzyzewski? Easily clearing $7 million every 12 months.
What's more remarkable is, prior to mid-2010, Boeheim wasn't even making $1.5 million per year. That kind of acceptance of salary speaks to Boeheim's character and comfort with the school, sure, but also reminds me about learning that Joe Paterno and John Wooden, decades into their career, were making thousands and/or millions less than their less-accomplished contemporaries. It's a mindset from an era that's about expired.
But thanks to a big ol' raise -- 33 percent -- which grossed him $1.9 million between July 1, 2010 and June 30, 2011, Boeheim became the university's top-paid employee, a spot reserved for the football coach at most BCS schools.
The Post-Standard reported the numbers over the weekend.
In general, the document shows an institution continuing to recover from the global recession that sent the stock market — and the university's investments — plummeting. Investments through SU's endowment fund, for example, earned nearly $120 million in the fiscal year ending last June, compared to a gain of $106 million the previous year and a loss of nearly $239 million the year before that. ...The report also states Boeheim gets nearly 200 Gs off the Syracuse basketball camp, an event he normally spends little-to-no time at. What a gig.Boeheim's 2010 earnings topped them all. They included an increase in his base pay from $1,186,225 to $1,577,523. He also received a $130,000 bonus — as he did the previous year, for advancing the team in the NCAA Tournament. And he received about $77,000 in insurance and a vehicle allowance and $40,000 in deferred compensation.
Most of Boeheim's base salary was not paid directly by the university. Nearly two-thirds — $1 million —was paid by IMG Worldwide. IMG, a global sports, fashion and media business, contracts with SU for the rights to market its sports teams through radio play-by-play programming, coaches' shows on radio and television, event marketing, game-day promotions, publications and Internet sponsorship, among other things.
As a comparison, SU football coach Doug Marrone earned $1.1 million, which further goes to show what I've always believed: Syracuse is a basketball school, not a football one. A few Syracuse grads have debated this with me over the years, but another example of proof -- outside of the general perception that Syracuse is known more for its hoops than pigskin -- can come in a university's dedication to its coaching by way of its funding. Boeheim's tenure and loyalty aside, the school still isn't willing to fork over big money to lure in a big-time football coach.
Though it does present an interesting question. When Boeheim's successor is hired -- and right now, assistant coach Mike Hopkins is the choice-in-waiting -- what will the pay be? And how will that compare to other top-10 national programs? Is it likely that a private institution like SU will be giving out lighter checks than the others?
