James Franklin is entering his 11th season as the head coach of the Penn State Nittany Lions in 2024 and much of the fanbase views it as a make-or-break year with the growth of the Big Ten and the expansion of the College Football Playoff.
Franklin was able to rebuild the program into a national contender after Bill O’Brien resuscitated it, and led the Nittany Lions to the Big Ten title in 2016. His early success in Happy Valley earned him a 10-year contract extension in 2021.
Franklin has won at least 10 games five times since taking over and his teams would have qualified for a 12-team CFP six times. Yet, with his big contract, if Franklin doesn’t get it done this season with former five-star quarterback Drew Allar, then his substantial salary will come into question.
That 10-year contract extension was worth a base of $75 million.
How much does James Franklin get paid per year?
James Franklin makes a base salary of $7.5 million each season with additional incentives built into his contract. Franklin will make an additional $350,000 for winning the Big Ten championship game, $400,000 for making the College Football Playoff, and $800,000 for winning a national championship.
His base salary of $7.5 million is also supplemented by a $500,000 annual retention bonus and a $1 million life insurance policy. So some reports consider his yearly salary to be $8.5 million. That total ranks him 12th nationally, just behind Lane Kiffin, Josh Heupel, and Mark Stoops.
His contract carries a $2 million buyout in 2024 and 2025 which drops to $1 million for the remaining years of the deal.