ACC Coaching Salaries
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Okay then. That makes Dino's bonus make more sense, though I am still a little bewildered about a $150 bonus for something being built into his contract.
That also clarifies why Reinemund isn't on there. Will be interested to see the 2010 990. When should that come out?
Wakelaw2006
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Thanks for the clarification - that would explain why Reinemund isn't listed. Also, is that typical for tax-exempt organizations on a FY? Just curious. Is it because it is easier to take W-2/1099 data that is obviously reported on a calendar year basis? I see a lot of 990s, but I don't prepare returns (and most of my tax-exempt clients are calendar year TPs that don't actually compensate anyone).
Colonel Angus
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Anybody who believes Jim Grobe makes $3M a year is an absolute idiot.
Uh, per the IRS his normal comp (aka: salary) was $2.367m for the 2008 calendar year.
This would put him at 3rd in the conference (and everyone even remotely close to him is at a public school the data is a lot easier to get/interpret). This seems about right.
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Colonel Angus
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The 2008 IRS "data" is an outlier.
His total compensation for that tax period was inflated due to deferred comp, performance incentives, etc.
Again... anyone who believes Jim Grobe makes $3M a year and is the highest paid coach in the conference is an idiot.
His total compensation for that tax period was inflated due to deferred comp, performance incentives, etc.
Again... anyone who believes Jim Grobe makes $3M a year and is the highest paid coach in the conference is an idiot.
KeEpEr
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agreed
You are wrong.
Base Compensation: $2,367,127
Bonus & Incentive Compensation: $528,197
Other Compensation: $11,852
Deferred Compensation: $17,250
Nontaxable Benefits: $14,319
Total: $2,939,475
I know sunshiners like you want to think that he has turned down big money because he likes Wake Forest so much, but the reality is he has turned down big money in part because he already makes big money.
Wakeforest22890
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This isn't true, his base comp without deferred comp and any other incentives or bonuses is over 2 million.
mebanedeac
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Coach Grobe is a very good man; but his compensation package was a gamble and on the surface it doesn't look to have been very wise. Before reaching that conclusion we must look at the over-all situation. In my years as a Wake fan there have never been the kinds of crowds at Groves that we have witnessed over his tenure. Also, there has been a level of respect for WF football that did not exist previously. Thus, the investment has been positive over-all................................until recently.
We are losing that respect. And, the attendance will decline unless the performance improves substantially. In other words, the gamble may yet prove to be a bust. I sincerely hope not. But things must improve substantially soon.
We are losing that respect. And, the attendance will decline unless the performance improves substantially. In other words, the gamble may yet prove to be a bust. I sincerely hope not. But things must improve substantially soon.
Wakelaw2006
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I'm not sure why you put "data" in quotes, as that was the first year that Wake filed with the new 990 that specifically includes deferred comp, bonus and incentive comp, etc. If you think 2008 is an outlier, what about 2007? That 990 reports total comp of over $3.4 million (of which some was deferred/incentive/bonus). I think the WaPo article of citing $2.9 million guaranteed is almost definitely off, but I don't think a number like $2.5 or $2.3 million, with a possibility over $3 million with incentives is all that hard to believe.
Latt Mamoureux
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Colonel Angus
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LMAO that some think The Colonel is a sunshiner.
I heard from someone who should know that the published compensation for Coach Grobe was WAAAYYY overstated.
Why? I have no idea. But I trust my source.
Feel free to believe whatever you want.
I heard from someone who should know that the published compensation for Coach Grobe was WAAAYYY overstated.
Why? I have no idea. But I trust my source.
Feel free to believe whatever you want.
Wakeforest22890
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I mean this is on the 990, how can it be overstated? Maybe I don't understand
So, let me get this right, you think Wake overstated Grobe's compensation to the IRS? Okay then...
And, yes, everything I have read that you have posted has been textbook sunshine stuff, including what you have said in this thread (and how you said it).
2004: $783k
2005: $815k
2006: $1.3m
2007: $3.4m ($900k marked as deferred)
2008: $2.9m ($500k marked as performance bonus)
So, what it looks like is that 2006 Grobe was under the old contract for about $800k a year but got a shitload of performance bonuses based on the Orange Bowl to bump him up to $1.3m. 2007 he signed an extension at the end of February. We can extrapolate that the base pay he received that year was about $2.1m ($3.4m-$900k (deferred) - $400k (est performance)) which works out to a new annual salary of $2.34m (($2.1m-$900k/6)/10*12). In short, per my calculations and the IRS numbers, Grobe has a guaranteed salary right around $2.3m, which makes him one of the top 15 highest paid coaches in the country per this database: http://www.usatoday.com/sports/college/football/2010-coaches-contracts-database.htm . And remember that this contract is 3 years old relative to those numbers; $2.3m would make him the 3rd highest paid coach in 2007 ( http://www.usatoday.com/sports/graphics/coaches_contracts07/flash.htm ). And, again, we're completely ignoring performance bonuses here.
In short Grobe is extraordinarily well paid.
2005: $815k
2006: $1.3m
2007: $3.4m ($900k marked as deferred)
2008: $2.9m ($500k marked as performance bonus)
So, what it looks like is that 2006 Grobe was under the old contract for about $800k a year but got a shitload of performance bonuses based on the Orange Bowl to bump him up to $1.3m. 2007 he signed an extension at the end of February. We can extrapolate that the base pay he received that year was about $2.1m ($3.4m-$900k (deferred) - $400k (est performance)) which works out to a new annual salary of $2.34m (($2.1m-$900k/6)/10*12). In short, per my calculations and the IRS numbers, Grobe has a guaranteed salary right around $2.3m, which makes him one of the top 15 highest paid coaches in the country per this database: http://www.usatoday.com/sports/college/football/2010-coaches-contracts-database.htm . And remember that this contract is 3 years old relative to those numbers; $2.3m would make him the 3rd highest paid coach in 2007 ( http://www.usatoday.com/sports/graphics/coaches_contracts07/flash.htm ). And, again, we're completely ignoring performance bonuses here.
In short Grobe is extraordinarily well paid.
The Stig
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Maybe it's just me but I hate this mentality. I think (for what little that's worth) that Wake should pour as much money into as many sports as we can for the returned revenue, the reputation and to support the student athletes. How many of you would have cut Field Hockey in favor of supporting the basketball team? They and Men's Soccer are about the only ones consistently worth a damn. I'd rather spend $3M on a football coach and expect 5-6 wins than $500,000 and hope for 1.
Sure, but I would rather spend $3m on a basketball coach and expect 25+ wins and $1m on a football coach and expect 4-5 wins then spend $3m on a football coach and expect 6-7 wins and $1m on a basketball coach and expect 18-20 wins.
I am of the opinion that Grobe's compensation limited our coaching search last April.
In other words, recognizing that we have a limited amount of funds, I think we should prioritize basketball.
