June Jones' Salary

[ponyup10]

it is also prorated...Jones was hired during 2008, so he didn't get a full year's salary.

[RGV Pony]

what are state income taxes like in Hawaii?

[SMU 86]

it is also prorated...Jones was hired during 2008, so he didn't get a full year's salary.

He was hired in January 2008 so it is not prorated very much. Heck, they may have added the 1 and a half weeks difference in as part of the signing bonus.

[ponydawg]

Kate knows all....
"Sure seems that way with SMU poised to make a bowl breakthrough, though Jones said today that Saturday's opponent, UTEP, is the best team SMU has played this season besides TCU. He's worried about their schemes and athletes on both sides of the ball.

I bring up money because I've received a couple of e-mails today asking about a good story in the SMU Daily Campus that list Jones' salary at $1.2 million, according to 990 tax forms for the 2008 fiscal year. I've reported since Jones was hired that he was making almost $2 million a year - which came straight from Jones' longtime agent, Leigh Steinberg.

It's important to point out that the $1.2 million in the student paper's story accounts for only the first five months of 2008 because we are going by fiscal years for tax purposes (June 2007 to May 31, 2008).

Jones was only hired in January of 2008 and the figure includes some relocation fees from Hawaii, the higher-ups at SMU confirm.

That would seem to keep Jones on track for about a $2 million annual salary."

[ponyscott]

Do we really care here? Private benefactors are paying for this salary total and not the University anyway so if that what's they want to spend their money on...so be it, and thank heaven we have people that are willing to scratch out big checks like this.

[huskerpony]

I read the following quote from the article to mean his total compensation from the school, including all the benefits from above.

This form is a public record. The data for SMU's 2008 fiscal year represent the time period between June 1, 2007, and May 31, 2008. All pay figures represent salary plus the cost of benefits

However, I do not know how benefits such as cars, housing or sweet deals on mortgages, etc are reported. I'm sure the IRS wants to collect on that. Again, not an expert.

Yeah--not an expert either--but I am guessing that is still only benefits that the university is paying for (health care, cars, country club membership, etc.) Things that would fit under "additional compensation" not paid by the university such as endorsements and camps would not be included.

If Jones did a commercial for, let's say ESPN, it wouldn't make sense for the university to take in the revenue and then pay Jones. But that is a part of nearly every contract for a head coach--the university guarantees to find you a specific amount of endorsement money--and is included when they say "Nick Saban got an $8 mil/yr contract" or whatever ridiculous amount he is getting.

Remember that story about Joe Pa's salary getting released? He was only getting about $500,000 from Penn State. But that is just the direct payment from the school. No way Joe Pa's contract is only half a million.

[Dooby]

Kate knows all....
"Sure seems that way with SMU poised to make a bowl breakthrough, though Jones said today that Saturday's opponent, UTEP, is the best team SMU has played this season besides TCU. He's worried about their schemes and athletes on both sides of the ball.

I bring up money because I've received a couple of e-mails today asking about a good story in the SMU Daily Campus that list Jones' salary at $1.2 million, according to 990 tax forms for the 2008 fiscal year. I've reported since Jones was hired that he was making almost $2 million a year - which came straight from Jones' longtime agent, Leigh Steinberg.

It's important to point out that the $1.2 million in the student paper's story accounts for only the first five months of 2008 because we are going by fiscal years for tax purposes (June 2007 to May 31, 2008).

Jones was only hired in January of 2008 and the figure includes some relocation fees from Hawaii, the higher-ups at SMU confirm.

That would seem to keep Jones on track for about a $2 million annual salary."

Everyone confused by the $1.2M figure, please re-read this quote, in particulare, the part that I put in bold.