Penn State's James Franklin Ranks 11th on Coaching Salaries List

Franklin signed a 10-year contract in 2021 that made him among the nation's highest-paid college football coaches.

Penn State's James Franklin is the second-highest paid active coach in the Big Ten Conference, according to USA Today, which released its annual database of college football coaching salaries Tuesday. Franklin ranks No. 11 nationally, about $500,000 outside of the top 10.

Franklin makes $8.5 million per year in total guaranteed compensation that includes a $500,000 annual retention bonus and a $1 million annual loan for life insurance. The Penn State coach also can make up to $1 million per year in incentives, which includes $800,000 for winning the College Football Playoff national championship.

Penn State's James Franklin ranks 11th nationally among the highest-paid college football coaches, according to USA Today :: Dan Rainville/USA Today Sports

According to the USA Today database, Franklin ranks No. 2 in Big Ten compensation behind Ohio State's Ryan Day ($10.3 million). Former Michigan State coach Mel Tucker had been No. 2 at more than $10 million per year. Michigan State fired Tucker in late September. Michigan coach Jim Harbaugh ranks 12th nationally ($8.25 million) behind Franklin, followed by Wisconsin first-year head coach Luke Fickell ($7.6 million).

Penn State and Franklin agreed to a new contract in November 2021 that guaranteed Franklin $70 million over 10 seasons before the retention bonus and life insurance loan. Among the incentives Franklin can earn are $500,000 for reaching the College Football Playoff championship game, $400,000 for reaching the playoff and $350,000 for winning the Big Ten title.

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