Barbour - over $1 Million per year.

[stormingnorm]

Last numbers I saw (2017), support staff/administration expenses were the fastest increasing line items over the last few years, well over 50% since she took over. Would be interesting to see the latest.

https://barryfenchak4trustee.wordpr...september-2018-athletics-department-finances/

https://barryfenchak4trustee.wordpr...llegiate-athletics-financial-data-pro-formas/

[FWIW: Your expectation is correct.
Through the last available Fed Report, Admin Expenses were up 63% under Barbour - in 3+ years. Since then, based on PSU's internal financial statements, that growth is now OVER 100% in Administrative expenses.... just since Sandy took over.
By FAR the fastest rising expense item (WAY more than Coaching Salaries or anything else)
Her new contract will only add to that..... maybe (STAY TUNED - I think one of the things they "slipped into" the contract is, among other things, an attempt to be able to create another lie, to reduce the expenses they show on the ICA financial statements) ]

 

[Art]

Last numbers I saw (2017), support staff/administration expenses were the fastest increasing line items over the last few years, well over 50% since she took over. Would be interesting to see the latest.

She's spending PSU into the 21st Century, or so I've been told.

 

[PSU_Nut]

Any idea how this compares to other B1G schools or nationally?

Based on 2017/2018 numbers she would be the 4th highest in the Big Ten and 10 nationally. So not completely out of line.

 

[Art]

Based on 2017/2018 numbers she would be the 4th highest in the Big Ten and 10 nationally. So not completely out of line.

What's in line?

 

[BBrown]

Based on 2017/2018 numbers she would be the 4th highest in the Big Ten and 10 nationally. So not completely out of line.

I wonder if those other AD's also have like 15+ Assts.?
Might be inline but IMO its out of whack.

 

[EPC FAN]

Insane?
Without question.

Par for the course at PSU?
Absolutely

https://www.centredaily.com/site-se...ng_Newsletter&id=YmZlbmNoYWtAY29tY2FzdC5uZXQ=

https://barryfenchak4trustee.wordpr...llegiate-athletics-financial-data-pro-formas/

PSU hired the AD who was ridden out of town on a rail at her previous two stops (Including Cal - where she put the Cal ICA into a 100-year debt hole)

But they are now paying here THREE TIMES what she was paid at Cal - to establish the same "orgy-spending" mentality at Penn State

Without getting into an insane argument, I found this from 2018. Use it as you will.
https://www.google.com/amp/s/247spo...ic-directors-in-college-sports-118239240/Amp/

 

[ralphster]

There are only two significant college sports, from a $ standpoint: men's basketball and football. Since we only have one of those at Penn State, she should logically make half of a normal AD salary, right?

 

[Art]

Without getting into an insane argument, I found this from 2018. Use it as you will.
https://www.google.com/amp/s/247spo...ic-directors-in-college-sports-118239240/Amp/

You're right, the argument is insane. When comparing ADs' salaries one also needs to compare accomplishments and scope. None of us are in a position to do that. Alternatively, one can move to the other extreme and posit that just because other universities are stupid enough to pay unmerited compensation PSU does not have to do the same. On further thought, forget that as a possibility.

So let's keep it simple and stick with what we know. When someone gets a substantial increase in compensation one expects that there are accomplishments to explain that. Who wants to start the list?

 

[Art]

What could happen if they offered her $100,000 per year?

Alternatively, do you think her phone rings off the hook with calls of the headhunting variety?

 

[PearlSUJam]

2. Title to be changed to Vice President for Intercollegiate Athletics.

So when are we going to hire an AD to fill that void?

 

[Art]

So when are we going to hire an AD to fill that void?

If what Barry suggests come to fruition PSU has taken "totally fvcked up" to a new level.

 

[Thomas1945]

Alternatively, do you think her phone rings off the hook with calls of the headhunting variety?

Strange as it may seem that’s a possibility. If a person is able to con some idiots into a seven figure compensation package, logic would dictate that even bigger idiots are waiting to be fleeced. We initially overpaid for someone with clearly demonstrated poor financial management skills. PSU doesn’t exist in a vacuum.

 

[Art]

Strange as it may seem that’s a possibility. If a person is able to con some idiots into a seven figure compensation package, logic would dictate that even bigger idiots are waiting to be fleeced. We initially overpaid for someone with clearly demonstrated poor financial management skills. PSU doesn’t exist in a vacuum.

Put it another way: Barbour was not considering other offers when PSU first came a callin'.

 

[PSU_Nut]

I wonder if those other AD's also have like 15+ Assts.?
Might be inline but IMO its out of whack.

actually they have far more than Penn State. People don’t understand that the title of assistant AD is given out like candy. PSU actually has few assistant ADs then most schools.

 

[Art]

Penn State's financial statements paint a far different picture

Since titles are not comparable from institution to institution, a better indicator would be total administrative cost and/or the ratio of administrative costs to total revenue. Since Nutter has his finger on the pulse of all things athletic he should be able to whip that stuff up in no time.

 

[ILLINOISLION]

But the most obvious question of all is will she be getting a bigger tax refund than Ranger Dan?

 

[BobPSU92]

She's spending PSU into the 21st Century, or so I've been told.

Sandy’s got this. Give early, often, and in large sums.

 

[Art]

Sandy’s got this. Give early, often, and in large sums.

You bet she's got it. Now we know exactly how much she's got.

 

[Crusher1950]

It’s now time for her to step up and take care of the two molting programs called, basketball. No excuses anymore. Pay the right people!!

 

[Nitwit]

I guess she wasn’t the Dumshit some proclaimed her to be. She’s figured out how to make a pretty good living.

 

[Art]

It’s now time for her to step up and take care of the two molting programs called, basketball. No excuses anymore. Pay the right people!!

Coquese is probably done. Whether Barbour gets a better coach remains to be seen. Odds are that Chambers is back next year.

 

[Art]

I guess she wasn’t the Dumshit some proclaimed her to be. She’s figured out how to make a pretty good living.

Only to the extent that she was able to find dummershits for whom to work. But to be accurate, they found her.

 

[fairfaxlion2]

Coquese is probably done. Whether Barbour gets a better coach remains to be seen. Odds are that Chambers is back next year.

I feel like Chambers is probably done as of right now, but may do enough save himself over the next few weeks

 

[LurkerLazarus]

Wish I hadn't already stopped giving them money, so I could stop giving them money.

 

[sluggo72]

Her salary will be $1,169,000 for 2018-19 and will increase in its base by $50,000 each year thereafter. In addition, she will earn a $20,000 per month contribution to a 401k, and her yearly performance bonus has been modified to a maximum of $260,000 per year.

HUH? $20k per month to a 401k? Max contribution for 2019 is $19,000.
https://www.irs.gov/newsroom/401k-c...to-19000-for-2019-ira-limit-increases-to-6000

 

[butchnitt]

Insane?
Without question.

Par for the course at PSU?
Absolutely

https://www.centredaily.com/site-se...ng_Newsletter&id=YmZlbmNoYWtAY29tY2FzdC5uZXQ=

https://barryfenchak4trustee.wordpr...llegiate-athletics-financial-data-pro-formas/

PSU hired the AD who was ridden out of town on a rail at her previous two stops (Including Cal - where she put the Cal ICA into a 100-year debt hole)

But they are now paying here THREE TIMES what she was paid at Cal - to establish the same "orgy-spending" mentality at Penn State

Insane?
Without question.

Par for the course at PSU?
Absolutely

https://www.centredaily.com/site-se...ng_Newsletter&id=YmZlbmNoYWtAY29tY2FzdC5uZXQ=

https://barryfenchak4trustee.wordpr...llegiate-athletics-financial-data-pro-formas/

PSU hired the AD who was ridden out of town on a rail at her previous two stops (Including Cal - where she put the Cal ICA into a 100-year debt hole)

But they are now paying here THREE TIMES what she was paid at Cal - to establish the same "orgy-spending" mentality at Penn State

Crazy, just F****NG Crazy. More than the Great Joe Paterno made.

 

[bwifan]

HUH? $20k per month to a 401k? Max contribution for 2019 is $19,000.
https://www.irs.gov/newsroom/401k-c...to-19000-for-2019-ira-limit-increases-to-6000

You are a page late... go back to the 1st page about mid way down...

 

[sluggo72]

yes employer can match whatever they want

and non profits and for-profits and corporations ........many types out there

employer can match whatever they want, provided they match all employees at the same ratio. So if PSU wants to match 401k to the tune 150% for Sandy then the Lasch janitors get matched the same.

 

[sluggo72]

What could happen if they offered her $100,000 per year?

she'd sue

 

[uhlerlion]

employer can match whatever they want, provided they match all employees at the same ratio. So if PSU wants to match 401k to the tune 150% for Sandy then the Lasch janitors get matched the same.

good point but it has to follow the plan requirements for non discrim testing. If the plan allows for company deposits into an executive retirement(golden parachute) not all employees are executives. I assume why she was anointed VP status

 

[Art]

I feel like Chambers is probably done as of right now, but may do enough save himself over the next few weeks

I'd be shocked if Chambers was gone..... especially after seeing Barbour's contract.

What are the odds they gave Chambers the same "We will pay you the entirety of your contract $$$, even if we fire your ass" deal that they gave Sandy?
My guess is fairly high.... in which case it could cost several MILLION to dump him.

For the three cents it's worth my feeling was that Chambers is back next year based simply on the fact that he got an extension. Only thing that would have thrown a wrench into that is if he major shit the bed e.g. 5-25 and/or ofer the Big Ten schedule. I think he's done enough to survive unless the team suffers a major collapse.

Also, I agree with Barry. His buyout is probably standard e.g. annual guaranteed comp times number of years remaining on the contract. That reinforces my opinion on why he's retained.

 

[fairfaxlion2]

For the three cents it's worth my feeling was that Chambers is back next year based simply on the fact that he got an extension. Only thing that would have thrown a wrench into that is if he major shit the bed e.g. 5-25 and/or ofer the Big Ten schedule. I think he's done enough to survive unless the team suffers a major collapse.

Also, I agree with Barry. His buyout is probably standard e.g. annual guaranteed comp times number of years remaining on the contract. That reinforces my opinion on why he's retained.

I disagree for two reasons. 1) I think Barbour and PSU probably decided to fire him on the same day they suspended him for shoving Dread. He is heading for a last place finish and I'm not sure he can recover from that. 2) I doubt that the buyout is favorable to him in any way whatsoever. The extension was granted for recruiting purposes. Everyone involved knew he had been to exactly zero NCAA tournaments in seven years.

If he gets up to 6 or 7 conference wins OR makes a huge run in the BTT (like reaching the finals) then he may save his job for one more year. But I seriously doubt that either of those scenarios are possible at this point.

 

[Art]

I disagree for two reasons. 1) I think Barbour and PSU probably decided to fire him on the same day they suspended him for shoving Dread. He is heading for a last place finish and I'm not sure he can recover from that. 2) I doubt that the buyout is favorable to him in any way whatsoever. The extension was granted for recruiting purposes. Everyone involved knew he had been to exactly zero NCAA tournaments in seven years.

If he gets up to 6 or 7 conference wins OR makes a huge run in the BTT (like reaching the finals) then he may save his job for one more year. But I seriously doubt that either of those scenarios are possible at this point.

Maybe, but I'm pretty sure his buyout is standard. Whatever it is will get out and PSU does not want to be in a position of hiring a coach with word on the street that it screwed Chambers over.

 

[uhlerlion]

good point but it has to follow the plan requirements for non discrim testing. If the plan allows for company deposits into an executive retirement(golden parachute) not all employees are executives. I assume why she was anointed VP status

also of note it appears its a combined deferred comp plan where the 401a qualified plan has a limit of 56k(total employee and employer contributions) and then the 415m kicks in with no limit but is considered a non qualified plan

 

[fairfaxlion2]

Maybe, but I'm pretty sure his buyout is standard. Whatever it is will get out and PSU does not want to be in a position of hiring a coach with word on the street that it screwed Chambers over.

Nobody would fault PSU for firing Chambers after this season. He was given more than an adequate chance here.

 

[Art]

Nobody would fault PSU for firing Chambers after this season. He was given more than an adequate chance here.

Not a question of firing him, it's how much money he gets on the way out. You'll find fewer candidates willing to work at PSU if they think the last guy was treated unfairly from a financial standpoint.

 

[PSUSignore]

1 helluva 401k contribution each month yeesh....

401k contributions for employers are capped at $37k in 2019. Either I'm missing something or that's a typo.

Edit - nevermind, caught up on the thread and saw it's not really a 401k.

 

[chrisrn1965]

I don't know if PSU ever officially released that info...… but it appears that it was in the $300-350,000 range.

FWIW - Uncle Fester was paid right around $400,000.....
So Barbour is making 4 times as much - just five years later.

Did Uncle Fester's compensation packet include free rent in Ira's basement? It is hard to put a price tag on that!

 

[91Joe95]

I don't want to get into a "point-by-point" wrt this contract.... or I might have to get a LISINOPRIL scrip ….. but this contract is f^cking insane - - - - - and even worse than I anticipated.

Yes, but its retroactive.

 

[91Joe95]

All part of the grand strategy to avoid paying the people who actually generate the revenue.