Many people ask just how much a Division I coach makes in a year while coaching men’s basketball. Well, it depends on how successful both the team and the coach are. The average collegiate men’s basketball coach makes around $400,000 a year. Successful coaches who advance to the NCAA Tournament average around $1.3 million. Head coach Mark Gottfried of the Wolfpack can now add his name to the list of one of the highest paid coaches in the NCAA.

According to an article in The News & Observer, coach Mark Gottfried has received a six-year extension, worth $1.2 million per year. Wolfpack fans can rest assuredly knowing that Gottfried will be returning as the head coach for N.C . State until at least April of 2018. In addition to the extension, Gottfried will also receive an additional stipend depending on just how far the Wolfpack goes throughout the remainder of the tournament. If State’s road ends in the Sweet Sixteen, Gottfried will receive a bonus of $62,500. His bonus will increase as each round progress. If the Pack can win the national championship, Gottfried will receive $437,500.

Along with the per round bonus of the NCAA championship, Gottfried could also receive a little more extra cash due to a new media deal. State will now pair with media companies Capitol Broadcasting and Learfield Sports. The new deal means major cash for N.C . State athletics, as the deal is worth no less than $49 million over the next ten years.

With all the financial benefits of being a successful Division I head basketball coach, many people impose the question, “Can I be head coach?” Making all this money brings in some major assets. Let’s look at Coach Gottfried , for example.

If I was in Gottfried’s shoes and made $1.2 million annually to coach the game I love, the first thing I would do is buy a new car. There is no way I would come rolling up to the PNC Center in anything less than a brand new Mercedes. Gas prices may be on the rise, but does it really matter if I am loaded? Sorry Toyota Prius , but you are out.

Secondly, how about a brand new Armani suit? For only a small setback of $2,000 dollars, coaching the sidelines in an Armani suit means only one thing — swag. With a new suit comes some new shoes. Spending $300 on some custom fit Rockports is similar to pocket change when I bring in over a million dollars a year.

Lastly, to complete my appearance, I may need some ring polish for my championship ring, or in Gottfried’s case, two rings. I have to be sure that when the camera is on me, my rings shine so bright they glow.

I guess being a successful head coach does have its benefits. Putting the kind of money schools do into their respective coaches shows exactly what an investment those coaches. As the Pack continues to work its way up in the tournament, to some, it means more money for Coach Gottfried . To Coach Gottfried , it means another win, another game and one step closer to the national championship. With such a successful year from Gottfried’s first year at N.C . State, we can honestly say, “$1.2 million, well worth it.”