Wichita State men’s basketball coach Gregg Marshall took his team to the Final Four. His most recent reward is a salary increase that boosts him closer to the top of his profession.
Marshall’s base salary will rise to $1.6 million in November and $1.75 million in April under terms of a contract amendment announced Monday. His previous base salary was $1.03 million, without incentives. In 2012-13, a salary of $1.6 million would rank among the top 25 of all college basketball coaches in a comparison with a USA Today database of salaries.
While Marshall’s raise gives him a salary comparable to coaches at schools such as Gonzaga, Missouri and Kansas State, athletic director Eric Sexton said the goal is to find the right number, not the right ranking.
“We’re working with him on what is a fair compensation with a program that is of national prominence,” Sexton said. “That’s the focus. How do we fairly compensate, within what is reasonable for Wichita State University, to support a first-class, national-level program?”
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On Monday evening, Marshall posted a video on Instagram thanking fans.
“Letting you know I really appreciate the contract extension,” he said. “We’re ready for an exciting year and look forward to seeing you in the new-and-improved Koch Arena real soon.”
According to the USA Today database, 10 coaches made between $1.5 million and $2 million last year. Michigan coach John Beilein, who also coached in the 2013 Final Four, received a raise from $1.8 million to $2.45 million, according to the Associated Press.
Sexton said Marshall’s raise will grow from November to April as the athletic department raises money.
“We are, over this period of time, putting together the compensation package,” he said. “That’s how we are going to ramp up to what that total amount is. It is all private dollars, either fundraising or revenue generation.”
Marshall, who signed the amendment last week, works with a seven-year rolling contract and is under contract until 2020. He is in his seventh season at WSU and has compiled a 139-70 record. Last season, he guided WSU to its first Final Four since 1965.
Sexton said the parties worked agreeably on the contract changes.
“There was never any jeopardy,” he said. “It took us a little extra time, more than what we wanted to. I wasn’t because of anything other than trying to do the right thing. Gregg’s made a huge commitment. We are both making large commitments to each other.”
The contract also gives Marshall a pool of $501,000 to pay three assistants and a director of basketball operations, up from $376,000. Marshall’s incentive clauses for winning the Missouri Valley Conference and keeping a team academic rate above an NCAA minimum will rise from $20,000 to $35,000 annually, but his NCAA Tournament and National Invitation Tournament incentives do not rise.
“I want to thank our administration for the tremendous commitment they have shown to our entire basketball program,” Marshall said in a news release. “From our enhanced amenities in Koch Arena and our renovated locker room to improved compensation to all our coaches, Wichita State University has shown great appreciation for what we do.”
Marshall will also receive a $125,000 payment that was part of the first year of an annuity agreement. The annuity has been deleted from the amended contract.