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Indiana men’s basketball: Mike Woodson receives $1 million raise

The Hoosiers’ head coach has secured A Bag.

Miami v Indiana Photo by Rob Carr/Getty Images

Indiana Athletics announced Friday afternoon that men’s basketball head coach Mike Woodson was receiving a raise to his yearly salary.

When he was hired back in 2021, Woodson’s salary averaged about $3 million on a yearly basis between his official salary and marketing/promotional income. Friday’s announcement bumps that up to $4.2 million in light of his accomplishments in two years on the job.

“Upon his arrival, Coach Woodson immediately re-inserted our program into the national conversation both in terms of an elevated level of success on the court and in recruiting,” Athletic Director Scott Dolson said in a statement. “I knew that returning our program to the level that Hoosier fans rightfully expect would be a process that wouldn’t happen overnight. I have been extremely pleased with the steps we have taken during the last two years. I believe under Coach Woodson’s leadership, we have positioned the program to compete at the highest levels in recruiting, which in turn will enable us to compete at the highest levels within the Big Ten and in the NCAA Tournament.”

Woodson has led Indiana to back-to-back appearances in the NCAA Tournament for the first time in a decade. His initial salary was low for a job with a profile like Indiana, which was to be expected given Woodson’s lack of experience with the college game at the time he was hired.

Now he’s the third highest-paid coach in the Big Ten, outpacing in-state rival Purdue’s Matt Painter ($3.67 million) and behind Illinois’ Brad Underwood, who earns a sum each time he beats Indiana, (yearly salary of $4.6 million) and Michigan State’s Tom Izzo ($6.2 million).

He’s not alone in the raise department either. Teri Moren received one in a contract extension in June.