Barbour - over $1 Million per year.

[stormingnorm]

Insane?
Without question.

Par for the course at PSU?
Absolutely

https://www.centredaily.com/site-se...ng_Newsletter&id=YmZlbmNoYWtAY29tY2FzdC5uZXQ=

https://barryfenchak4trustee.wordpr...llegiate-athletics-financial-data-pro-formas/

PSU hired the AD who was ridden out of town on a rail at her previous two stops (Including Cal - where she put the Cal ICA into a 100-year debt hole)

But they are now paying here THREE TIMES what she was paid at Cal - to establish the same "orgy-spending" mentality at Penn State

 

[bwifan]

Her salary will be $1,169,000 for 2018-19 and will increase in its base by $50,000 each year thereafter. In addition, she will earn a $20,000 per month contribution to a 401k, and her yearly performance bonus has been modified to a maximum of $260,000 per year.

 

[cool1099]

A bargain at one-tenth the price.
Could at least use that money to buy a basketball coach.

 

[bwifan]

1 helluva 401k contribution each month yeesh....

 

[bwifan]

Pissing away $10,000,000 is bad enough.

But that is NOT what is going on here.

What is going on here is:
Pissing away $10,000,000..... in order to buy someone who will piss away ANOTHER $100,000,000.


Words fail.

And not one peep from any of those who are duty-bound to serve as fiduciaries of the University.

Well they did cap her performance bonus...

 

[bkmtnittany1]

Plus unlimited onion dip and chips...a hulluva perk!

 

[RU31trap]

Wow!!!!!!!!!!!!!! Is she the highest paid AD in the country?? Her fund raising skills must be phenomenal.

 

[Sharkies]

I just don't f*ckin understand....?

 

[fairfaxlion2]

I don't quite get this one.

But if she is ever going to make a move on men's basketball, it will be now.

 

[Meteor-Lion]

Waiting for Art. Hell, I want Art to be the new AD at 750,000 per annum. She is over paid and just another reason why costs are out of control at PSU.

 

[PearlSUJam]

Pissing away $10,000,000 is bad enough.

But that is NOT what is going on here.

What is going on here is:
Pissing away $10,000,000..... in order to buy someone who will piss away ANOTHER $100,000,000.


Words fail.

And not one peep from any of those who are duty-bound to serve as fiduciaries of the University.

Gotta spend money to make the graft Norm.

 

[uhlerlion]

1 helluva 401k contribution each month yeesh....

Well the 401k limit is 19k per year and since shes older than 50. (insert wisecracks here) she gets up to 6k in catchup. So really she gets her 401k max by Februrary. She wont get it per month for the whole year

 

[fairfaxlion2]

Well the 401k limit is 19k per year and since shes older than 50. (insert wisecracks here) she gets up to 6k in catchup. So really she gets her 401k max by Februrary. She wont get it per month for the whole year

That is max individual contributions. I think your employer can put in whatever they want

 

[Lionfan01]

Am I reading this right? Her annual raise is on par with the median household income in the USA? And the school contributes more to her 401k in a month than I can contribute in a year?

 

[fairfaxlion2]

Its not a 401k

See above

Same difference. The point is that individual contributions are capped but this is not the same thing as employer contributions, whether it's under 401(k) or whatever.

 

[bwifan]

It's Penn State..... so it's not a "401k" (though I am sure the OP who used that term was using it as short-hand for her "Retirement Account")

I cut and pasted what BWI had on their front page... Here is the cut and paste of what was released officially...See Point 5

TERM SHEET FOR AMENDMENT OF BARBOUR EMPLOYMENT CONTRACT The following terms are reflected in a mutually agreed Amendment to existing Employment Contract. Amended Terms

1. Contract term extended from August 31, 2019 to August 31, 2023.

2. Title to be changed to Vice President for Intercollegiate Athletics.

3. Cash Compensation in each contract year (CY) ending August 31, as follows: CY 18-19 $1,169,000 CY 19-20 $1,219,000 CY 20-21 $1,269,000 CY 21-22 $1,319,000 CY 22-23 $1,369,000

4. Annual $100,000 retention bonus will be eliminated.

5. University contribution of $20,000/month into a 401(a)/415(m) defined benefit plan (or other mutually agreed tax-favored plan).

6. Performance bonus opportunities have been modified, with a maximum performance bonus of $260,000 in any Contract Year.

7. Liquidated damages in the event of a termination by the University without cause are equal to Annual Cash Compensation, plus the retirement contributions for the remainder of the term of the Agreement. (AD has affirmative obligation to mitigate damages by seeking other similar employment.)

8. Financial terms are retroactive to July 1, 2018. Except as modified to reflect the above terms, all other terms and conditions of the existing

 

[uhlerlion]

It's Penn State..... so it's not a "401k" (though I am sure the OP who used that term was using it as short-hand for her "Retirement Account")

ok just stating the regs per "401k" language

 

[fairfaxlion2]

Am I reading this right? Her annual raise is on par with the median household income in the USA? And the school contributes more to her 401k in a month than I can contribute in a year?

Yes, but she has the same limits on individual contributions as you do

 

[uhlerlion]

That is max individual contributions. I think your employer can put in whatever they want

yes employer can match whatever they want

Agreed.

I was just clarifying the type of plan (because there are differences... especially wrt highly compensated employees)

and non profits and for-profits and corporations ........many types out there

 

[Lionfan01]

It must be nice to step into a job with a winning culture (basketball excluded...not that I expect any changes there), spend a bunch of money, and claim enough success to get paid like that.

 

[loosey goosey]

What was curly making?

 

[psuro]

Meh. I don't go to games, so I don't care about costs of tickets, parking lodging. So, I don't really care.

Besides, there is so much more to get enraged about - like the onion dip shortage of '16 or the 5 days off in the first two month of Spring Semester '19....things that really matter.

 

[Kmase21]

BUT WHAT ABOUT THE FACILITIES

 

[Sharkies]

This contract is absolutely insane. Just insane.

 

[psuro]

In case you were wondering, here is some salary information for ADs - 2017/2018

Even if you were not wondering.....here it is...

http://www.sportsinfo.pro/AthleticDirector2018.html

 

[Nitwit]

It’s about 1/30th what Harper is going to get paid. Toto you’re not in Kansas anymore. Looks like there are lots of ADs in a similar range, including Northwestern, Kentucky, Alabama, Texas Tech, OSU, and others.

 

[fairfaxlion2]

What was curly making?

Too much if it was north of minimum wage

 

[BBrown]

I don't want to get into a "point-by-point" wrt this contract.... or I might have to get a LISINOPRIL scrip ….. but this contract is f^cking insane - - - - - and even worse than I anticipated.

Any idea how this compares to other B1G schools or nationally?

 

[MJG-90]

What is going on here is:
Pissing away $10,000,000..... in order to buy someone who will piss away ANOTHER $100,000,000.

That's it? Just another $100 million? Heck, the stadium renovations alone will probably be at least 5 times that number.

 

[MJG-90]

Her fund raising skills must be phenomenal.

Any word on when fundraising for these new projects is scheduled to begin?

 

[Art]

Pissing away $10,000,000 is bad enough.

But that is NOT what is going on here.

What is going on here is:
Pissing away $10,000,000..... in order to buy someone who will piss away ANOTHER $100,000,000.


Words fail.

And not one peep from any of those who are duty-bound to serve as fiduciaries of the University.

Pissing away $100mm? PSU should be so lucky if it's capped at that.

 

[BBrown]

In case you were wondering, here is some salary information for ADs - 2017/2018

Even if you were not wondering.....here it is...

http://www.sportsinfo.pro/AthleticDirector2018.html

Thanks. just asked that.

 

[ST8FAN]

I've heard repeatedly that Barbour is an ineffective fund raiser which is a damn important part of an AD's job. Looks like the other boxes she checks outweighs that flaw.

 

[psuro]

I've heard repeatedly that Barbour is an ineffective fund raiser which is a damn important part of an AD's job. Looks like the other boxes she checks outweighs that flaw.

Is an AD really supposed to be the prime fundraiser?

You want alumni to hand over money? You trot out the big name coach (if you have one), and then get out of his (or her) way.

old Penn State - Joe
Duke - Coach K
Bama - Nick Saban
old F$U - Bobby Bowden
so on and so forth.....

 

[Art]

Waiting for Art. Hell, I want Art to be the new AD at 750,000 per annum. She is over paid and just another reason why costs are out of control at PSU.

Would that mean I get one-on-one meetings with Indiana Fats? For that, I'd work for free. Okay, the cost of hazmat gear and clothing.

 

[The Song Remains the Same]

I don't know if PSU ever officially released that info...… but it appears that it was in the $300-350,000 range.

FWIW - Uncle Fester was paid right around $400,000.....
So Barbour is making 4 times as much - just five years later.

But Sandy doesn't get free basement lodging.

 

[psuflipoh]

A PC move by the elites at PSU.
Nothing has changed!

 

[cool1099]

Pissing away $100mm? PSU should be so lucky if it's capped at that.

Last numbers I saw (2017), support staff/administration expenses were the fastest increasing line items over the last few years, well over 50% since she took over. Would be interesting to see the latest.

 

[ST8FAN]

Is an AD really supposed to be the prime fundraiser?

You want alumni to hand over money? You trot out the big name coach (if you have one), and then get out of his (or her) way.

old Penn State - Joe
Duke - Coach K
Bama - Nick Saban
old F$U - Bobby Bowden
so on and so forth.....

Forbes article:

With the continuous escalation of the facilities arm race, Big 5 athletic directors are often responsible for the planning, fundraising and oversight of substantial capital projects that often reach similar investment levels to those seen in professional sports. Balancing an athletics budget is one thing, insuring that one can do so while simultaneously investing hundreds of millions more into facilities requires a far more advanced ability to manage cash flow.

 

[Art]

Is an AD really supposed to be the prime fundraiser?

You want alumni to hand over money? You trot out the big name coach (if you have one), and then get out of his (or her) way.

old Penn State - Joe
Duke - Coach K
Bama - Nick Saban
old F$U - Bobby Bowden
so on and so forth.....

AD has overall responsibility for athletic department fundraising and trots out the big guns when necessary and appropriate.
Expect the AD to spend far more time fundraising than any big name coach.