Confirmed with Link: Sheldon Keefe to be named the next head coach of the New Jersey Devils

[My3Sons]

Perhaps I'm overestimating here, but I'd think he's probably getting paid anywhere between $500-$800k a year as a college head coach. Maybe $800k is probably more than what he makes? I'd have to assume it's at least $500k for a school with a prestigious hockey program like BU.

Probably not in the million dollar range though.

I'd say the minimum wage for an NHL head coach these days/entry level NHL head coach probably starts around a million per.

Pando is probably making more money as the BU head coach than he would be as an NHL assistant coach. Some of them get paid less than half a million per, especially if they're not very experienced/in their first gig in the league.

He actually was an assistant coach for the Bruins for quite a while before switching to college hockey.

Maybe someone like Red Berenson who was a college head coach for like 50 years was in the million dollar a year range.

I think for any public university the coach's salary is public record? I've got to finish a Bates stamping dispute so I won't bother to look but anyone interested can probably find this stuff with a bit of digging. It won't cover the secondary money from booster clubs or outside clinics or speaking or camps or local media but it will at least let you know what the school pays.

 

[Bleedred]

I think for any public university the coach's salary is public record? I've got to finish a Bates stamping dispute so I won't bother to look but anyone interested can probably find this stuff with a bit of digging. It won't cover the secondary money from booster clubs or outside clinics or speaking or camps or local media but it will at least let you know what the school pays.

I was unable to find it with just one simple search, but may be able to if I dig around a bit.

Maybe it's like the NHL, where cap friendly has most of the coaches salaries and contract term listed, but not all of them?

 

[Billdo]

I think for any public university the coach's salary is public record? I've got to finish a Bates stamping dispute so I won't bother to look but anyone interested can probably find this stuff with a bit of digging. It won't cover the secondary money from booster clubs or outside clinics or speaking or camps or local media but it will at least let you know what the school pays.

I could've sworn BU was private.

 

[forceten]

Boston University, like Boston College, is private. Unlike Boston College, Boston University is actually in Boston and is a University. Boston College is neither in Boston or a College.

$13M gross earnings is probably not enough to be "set for life" from a NHL player perspective in the sense that what he used to earn is where he wants his lifestyle to be, but earning $500-800k as a college coach allows him to sock away what he didn't spend from that $6-7M net post-tax he earned and have it double every 7-10 years.

 

[Bleedred]

Boston University, like Boston College, is private. Unlike Boston College, Boston University is actually in Boston and is a University. Boston College is neither in Boston or a College.

$13M gross earnings is probably not enough to be "set for life" from a NHL player perspective in the sense that what he used to earn is where he wants his lifestyle to be, but earning $500-800k as a college coach allows him to sock away what he didn't spend from that $6-7M net post-tax he earned and have it double every 7-10 years.

My friend and I were just talking about this recently. His lifetime earnings are about $5 million or thereabouts. And he's 53. He's a musician, but he's also not in anything that's made him millions and millions. That's also including the money he's made in non-music industry jobs, which he hasn't really had since he was in his early 20s. So that comes out to $142k-something per year on average for 35 years since getting out of high school.

His net worth is about $1.4-$1.5 million, but that's strictly just off his assets. He doesn't have anywhere near that in the bank. That's a house in Jersey that he owns, a mobile home in Florida and a couple of cars/a bike/jet ski. He says that he's told people his net worth and they're like ''WOAH! DAYUMMMM!!!1 DAT'S A LOTTTTTT!!!''as if he can actually go draw $1.5 million dollars out of the bank right now. Which he cannot.

Between the pandemic shutting down touring for the better part of 2 years, with a very profitable 2022 when things were back to normal, but then a band member illness halting touring for most of 2023 for one of his acts, he's really been drained, but will be getting an huge infusion of cash in a couple of weeks from a tour he's done this Spring.

So $13 million is more than almost any of us will ever make, but when it all comes before you're 40 years old, it can get very fast if you have to live off of it for presumably the next 40 years of your life.

And even if you contributed the max to social security in your working years, like my friend has and like Pandolfo most certainly has, you can't even get your first check until you're 62.

My net worth is over half a million, but I certainly don't have much more than about $1k put away that isn't for this month's living expenses. My house is paid off and that's why I have a net worth at all.

 

[Ripshot 43]

My friend and I were just talking about this recently. His lifetime earnings are about $5 million or thereabouts. And he's 53. He's a musician, but he's also not in anything that's made him millions and millions. That's also including the money he's made in non-music industry jobs, which he hasn't really had since he was in his early 20s. So that comes out to $142k-something per year on average for 35 years since getting out of high school.

His net worth is about $1.4-$1.5 million, but that's strictly just off his assets. He doesn't have anywhere near that in the bank. That's a house in Jersey that he owns, a mobile home in Florida and a couple of cars/a bike/jet ski. He says that he's told people his net worth and they're like ''WOAH! DAYUMMMM!!!1 DAT'S A LOTTTTTT!!!''as if he can actually go draw $1.5 million dollars out of the bank right now. Which he cannot.

Between the pandemic shutting down touring for the better part of 2 years, with a very profitable 2022 when things were back to normal, but then a band member illness halting touring for most of 2023 for one of his acts, he's really been drained, but will be getting an huge infusion of cash in a couple of weeks from a tour he's done this Spring.

So $13 million is more than almost any of us will ever make, but when it all comes before you're 40 years old, it can get very fast if you have to live off of it for presumably the next 40 years of your life.

And even if you contributed the max to social security in your working years, like my friend has and like Pandolfo most certainly has, you can't even get your first check until you're 62.

My net worth is over half a million, but I certainly don't have much more than about $1k put away that isn't for this month's living expenses. My house is paid off and that's why I have a net worth at all.

Not for nothing Bleed, but you really need to learn to open up to us here on hfboards.

 

[forceten]

My friend and I were just talking about this recently. His lifetime earnings are about $5 million or thereabouts. And he's 53. He's a musician, but he's also not in anything that's made him millions and millions. That's also including the money he's made in non-music industry jobs, which he hasn't really had since he was in his early 20s. So that comes out to $142k-something per year on average for 35 years since getting out of high school.

His net worth is about $1.4-$1.5 million, but that's strictly just off his assets. He doesn't have anywhere near that in the bank. That's a house in Jersey that he owns, a mobile home in Florida and a couple of cars/a bike/jet ski. He says that he's told people his net worth and they're like ''WOAH! DAYUMMMM!!!1 DAT'S A LOTTTTTT!!!''as if he can actually go draw $1.5 million dollars out of the bank right now. Which he cannot.

Between the pandemic shutting down touring for the better part of 2 years, with a very profitable 2022 when things were back to normal, but then a band member illness halting touring for most of 2023 for one of his acts, he's really been drained, but will be getting an huge infusion of cash in a couple of weeks from a tour he's done this Spring.

So $13 million is more than almost any of us will ever make, but when it all comes before you're 40 years old, it can get very fast if you have to live off of it for presumably the next 40 years of your life.

And even if you contributed the max to social security in your working years, like my friend has and like Pandolfo most certainly has, you can't even get your first check until you're 62.

My net worth is over half a million, but I certainly don't have much more than about $1k put away that isn't for this month's living expenses. My house is paid off and that's why I have a net worth at all.

The general rule of thumb is money in the market can double in 7-10 years, lately more on the shorter term but it will swing the other way, it always does. You also can get to a certain point and trust that you'll get 3.5-4.5% per year in dividend/etc income from money. So let's say you DID have $5m in investable assets and you decided that was good enough (your house doesn't count, really). You could rely on making between $35-45k/year per $1M, so $5M would be $175k-$225k/year before tax from that $5M, without touching a penny of it, and presumably it may still grow (although not necessarily at index rates since you're preferring income-production over aggressive growth)

So Pandolfo probably paid max taxes on that money he earned while playing so assume he kept about 55-62% of it. And then he bought stuff... probably early on, not saving a super amount. It's reasonable to assume that he has 2-3M left, which isn't an awful lot.

 

[MadDevil]

 

[Guadana]

My net worth is over half a million, but I certainly don't have much more than about $1k put away that isn't for this month's living expenses. My house is paid off and that's why I have a net worth at all.

Why you cant live for 4-10K per month and put other money in bank for future? Sounds like a good situation on paper.

 

[Saugus]

I had to check that I’m in the coaching hire thread and didn’t somehow accidentally click on the personal finance advice thread.

 

[My3Sons]

I could've sworn BU was private.

BU might be. I just meant in general. Gives you an idea of the salary range. Like what does the guy at Michigan make for comparison?

 

[Cheddabombs]

Me reading this thread as someone with little financial literacy

 

[MadDevil]

I had to check that I’m in the coaching hire thread and didn’t somehow accidentally click on the personal finance advice thread.

My personal financial advice is to completely ignore my personal financial advice. In fact, do pretty much the opposite.

 

[Ripshot 43]

Me reading this thread as someone with little financial literacy

View attachment 877173

Shhhhh…. You’re still in consideration for assistant to the associate coach.

 

[Billdo]

BU might be. I just meant in general. Gives you an idea of the salary range. Like what does the guy at Michigan make for comparison?

I'm assuming the top tier schools have a base of maybe 700k with bonuses totaling over a mil but that's probably it.

 

[BurntToast]

Not to trying to get this thread further off topic but being a coach of a NCAA division 1 school is like being on an All-Inclusive vacation.

They probably got a house that would be a hipsters dream. The home is from the Colonial times but with modern amenities. His family probably also gets a food allowance and travel expenses paid. Plus, If you do well you get job security for life.

 

[Guttersniped]

Perhaps I'm overestimating here, but I'd think he's probably getting paid anywhere between $500-$800k a year as a college head coach. Maybe $800k is probably more than what he makes? I'd have to assume it's at least $500k for a school with a prestigious hockey program like BU.

Probably not in the million dollar range though.

I'd say the minimum wage for an NHL head coach these days/entry level NHL head coach probably starts around a million per.

Pando is probably making more money as the BU head coach than he would be as an NHL assistant coach. Some of them get paid less than half a million per, especially if they're not very experienced/in their first gig in the league.

He actually was an assistant coach for the Bruins for quite a while before switching to college hockey.

Maybe someone like Red Berenson who was a college head coach for like 50 years was in the million dollar a year range.

This is from an Nov 2019 Athletic article. (So a while ago but pre-COVID.)

The changing dynamic in contract negotiations for NHL coaches

Even with the increasing salary for NHL coaches, most do not have an agent. But that is starting to change.

www.nytimes.com

This March 24 article (link at the end) has details of Adam Nightingale’s 5 year extension with Michigan State, which he got after two years (EP entry link).


link to article on Naurato.



What does that mean (according to the writer)?

This sent me down the path to learn more about coaching salaries, and try to contextualize just how good it is to be a college hockey coach.

A college hockey source told me both of these deals are pretty typical for the top programs, and they specifically mentioned David Carle has a similar base salary and compensation structure at Denver.

Financially speaking, this is why it can take some heavy convincing to get a college hockey coach to leave for the NHL.

For example, at some point, we all know the NHL will come calling for Carle. He’s already won a World Junior Championship and a national title, and he’s younger than I am (I’m 34, FWIW).

But for now, he has a high-paying job, great security and University benefits. Those benefits can also potentially include free education for a coach’s children, which isn’t cheap.

And that isn’t necessary just college. For example, BU has Boston University Academy for grades 9-12.

<cut>
College hockey coaches also make, on average, more than AHL and CHL counterparts.

According to a couple sources, the typical AHL coach makes $200,000 to $225,000 per season. A typical CHL coach, even the most veteran ones, are making close $250,000 Canadian per season — which is closer to $185,000 in USD.

While I don’t have his exact contract details, one source noted that it’s highly likely that Nightingale is making almost triple this season to what Grand Rapids Griffins coach Dan Watson is making.

And Nightingale only has to coach around 40 games per season, roughly half that of an AHL coach. The travel is easier — games are only on Friday and Saturday — and while recruiting can be a bear, the accommodations don’t include bus trips from Grand Rapids to Milwaukee to complete a 3-in-3 weekend.

This is why you hardly ever see NCAA coaches move to the AHL or the CHL. It doesn’t make much sense to move to the pro ranks, unless it’s coming at the highest level in the NHL.

It's a pretty good gig to be a college hockey coach

A look at the financial structure and benefits for NCAA coaches compared to those in the AHL and CHL.

www.shapshotshockey.com

 

[forceten]

Thank you - we can always count on you for seriously researched posts. I wish you had political blogs somewhere else to follow!

 

[MasterofGrond]

College sports is such a f***in scam

 

[devilsblood]

This is from an Nov 2019 Athletic article. (So a while ago but pre-COVID.)

View attachment 877225

The changing dynamic in contract negotiations for NHL coaches

Even with the increasing salary for NHL coaches, most do not have an agent. But that is starting to change.

www.nytimes.com

This March 24 article (link at the end) has details of Adam Nightingale’s 5 year extension with Michigan State, which he got after two years (EP entry link).

View attachment 877227
link to article on Naurato.

View attachment 877228

What does that mean (according to the writer)?



And that isn’t necessary just college. For example, BU has Boston University Academy for grades 9-12.

It's a pretty good gig to be a college hockey coach

A look at the financial structure and benefits for NCAA coaches compared to those in the AHL and CHL.

www.shapshotshockey.com

There are NHL head coaches making around $1mil? Seems low.

Was listening to ESPN radio last night and they said Steve Kerr makes $35mil. Thought that was crazy. Next guy was Popovich at $16m.

 

[JimEIV]

College sports is such a f***in scam

Not in hockey...Kids have so many alternatives.

It's not like football where if you don't go to college there basically zero chance of making it to the NFL

I mean kids get drafted out of highschool in hockey...kids can go anywhere CHL, USHL or even overseas.

I love college sports and prefer to watch them over pro's in most instances except for the Devils and NHL playoff hockey

 

[MasterofGrond]

There are NHL head coaches making around $1mil? Seems low.

Was listening to ESPN radio last night and they said Steve Kerr makes $35mil. Thought that was crazy. Next guy was Popovich at $16m.

I think it’s 35M over two years so 17.5.

But Kerr has made so much money off a roster even I could win with. Don’t get me wrong, he’s not a bad coach, but Pop earned that check.

 

[devilsblood]

I think it’s 35M over two years so 17.5.

But Kerr has made so much money off a roster even I could win with. Don’t get me wrong, he’s not a bad coach, but Pop earned that check.

That would make more sense. The ESPN radio were clearly talking about things they didn't know about, but I believed them on that, what a bunch of duds.

But winning is winning. And winning requires good players. Pop had em, as did Kerr.

 

[devilsblood]

Not in hockey...Kids have so many alternatives.

It's not like football where if you don't go to college there basically zero chance of making it to the NFL

I mean kids get drafted out of highschool in hockey...kids can go anywhere CHL, USHL or even overseas.

I love college sports and prefer to watch them over pro's in most instances except for the Devils and NHL playoff hockey

Ya I try not to focus on all the other stuff. On the field/court/ice college sports is good stuff.

 

[Devilsfan118]

Not to trying to get this thread further off topic but being a coach of a NCAA division 1 school is like being on an All-Inclusive vacation.

They probably got a house that would be a hipsters dream. The home is from the Colonial times but with modern amenities. His family probably also gets a food allowance and travel expenses paid. Plus, If you do well you get job security for life.

Except that you're having to constantly deal with recruiting teenagers and the complete chaos that is NIL.

Tbh, I think a pro job sounds more appealing.