Matt Painter Salary: How much does the Purdue coach make?

Matt Painter has been at Purdue for nearly two decades. Painter has picked up 432 wins in West Lafayette and has led the Boilermakers to the Sweet 16 round of the NCAA Tournament six times.

That said, he is yet to take Purdue to a Final Four, much less to an NCAA title. But with Purdue ranked among the nation's top teams, let's look at Painter's contract details.

Matt Painter's salary at Purdue

According to Yahoo Finance, Painter will earn $3.67 million for the 2023-24 season. He is also set to collect an additional $450,000 retention bonus if he remains Purdue's head coach on September 1, 2024.

Painter's salary ranks toward the middle of the Big Ten, a far cry from the over $6 million per year earned by Michigan State boss Tom Izzo.

How much did Matt Painter earn before?

Purdue coach Gene Keady, waving on the right at the 2023 Basketball Hall of Fame Enshrinement Ceremony, recruited Painter to Purdue as a player and helped bring Painter back to replace him in 2005.

Given the length of his tenure at Purdue, it's probably not shocking that the school and Painter entered into a rolling contract of five years with one-year annual extensions. That arrangement began in 2019, and under the terms of that agreement, Painter earned $3.2 million in the 2021-22 season.

But in the fall of 2022, Purdue awarded Painter a raise of $350,000 per season, which pushed him to $3.55 million in 2022-23, with Painter's base steadily increasing to $3.75 million in the 2024-25 season (not counting the retention bonus mentioned ahead).

It's also surprising that Painter's earlier salaries were significantly smaller. In 2011, Painter received a million-dollar raise, jumping from $1.3 to $2.3 million annually.

Matt Painter's perks and buyouts

Among the details included in Painter's contract is a $30,000 annual allotment for apparel courtesy of Purdue sponsor Nike. That amount was increased from $25,000 in the 2022 raise. Despite the length and investment that Purdue has made in Painter's contract, his buyout figure remains at $1 million.

More about Matt Painter

The 53-year-old Painter is a native of Fort Wayne, Indiana. He played at Purdue, leading the team in assists in 1993. After a series of assistant coaching jobs, Painter landed at Southern Illinois for the 2003-2004 season. He led the Salukis to a 25-5 mark, and was the Missouri Valley Conference Coach of the Year.

After a year at Purdue as an associated head coach under outgoing legend Gene Keady, Painter ascended to the Purdue head coaching role in 2005. He's been at West Lafayette since then.