Matt Painter, former player turned coach, is the current 19th leader of the Purdue Boilermakers basketball team. His career spans many years, marked by success both on and off the field. From 1989 to 1993, Painter honed his basketball talent at Purdue College. He later swapped his career as a coach, and his journey started at Washington & Jefferson College.
With Matt Painter as a Coach, Purdue's basketball team saw notable achievements. The Boilermakers have reached up 14 times in the NCAA Tournament including the Sweet-16 appearance six times and made an Elite Eight appearance once.
| Name | Matt Painter |
| Net Worth | $10 Million |
| Age | 53 years old (born on August 27, 1970) |
| Residence | West Lafayette, Indiana (IN), US |
| Position | Head coach |
| Marital Status | Married |
| Source of Wealth | Basketball coach |
| Salary | $3.58 million annually (as of 2024) |
| Endorsements | N/A |
| Endorsement Earnings | N/A |
Matt Painter’s Net Worth
As of 2024, Matt Painter's net worth is expected to be around $10 million. Matt, the head coach of the Purdue Boilermakers men's basketball team since 2005, has built quite a successful career for himself. This staggering net worth is attributed not only to his top underlying earnings, but additionally to additional earnings from overall performance bonuses and compensation.
During his time at Purdue University, Painter signed several contracts with the college. These contracts assured a yearly base salary, and also allowed him to receive extra compensation based on the team's performance.
Matt Painter’s Career Earnings
Currently, there is no available information on Matt Painter's career earnings. Yet, he's built up a hefty net worth of $10 million. Matt Painter, the head Purdue Boilermakers men's basketball coach, earns about $3.58 million annually. Notably, his university pay has consistently risen year by year.
Matt Painter’s Salary
By the year 2024, Purdue Boilermakers men's basketball team's coach Matt Painter's average yearly salary is $3.58 million. During August of 2022, the University approved the increase of Matt Painter's income from $3.2 million to $3.55 million for that year's season. They also promised an extra $100,000 increase for the following two years. That's why in 2023, his salary was $3,580,000, while in 2022, it was $3,225,000.
Previous to Purdue Boilermakers, Matt Painter was the coach of Southern Illinois men's basketball team. Back then, his pay was around $720,000. Now, his salary is much more, reflecting his achievements and value to the Purdue basketball program.
Matt Painter’s Contract
Back in 2018, Purdue University confirmed that Matt Painter, the men's basketball team's head coach, signed a five-year contract extension. This stretched his agreement till the 2023-24 season. Beginning from July 1, 2019, Painter's contract moved to a five-year duration with auto one-year extensions. This extension hiked his paycheck to roughly $2.8 million.
But, in August 2022, the university amended Matt Painter's contract. They added in a $350,000 raise ahead of the season. Matt Painter earned $3,580,000 in the 2023 season.
Looking ahead, Painter gets a larger base salary, up to $3.67 million in the 2023-24 season, then $3.75 million in the 2024-25 season. Purdue University also includes a special offer. If Painter keeps his role as a basketball coach up until September 1, 2024, he will earn a $450,000 bonus. With all this, his total earnings in 2024-25 will be $4.2 million.
Back in July 2016, Painter's pay increased in his contract. He had an improvised contract that promised $3 million for the 2019-20 season, $3.1 million for 2020-21, and $3.2 million for 2021-22. But, in 2018, he got an increase, an extra $25,000. And in 2022, his base salary went even higher according to the changes made to his contract.
Matt Painter Contract Breakdown
| Year | Base Salary | Signing Bonus | Cap Hit | Dead Cap | Yearly Cash |
| 2011 | $1,290,284 | - | $1,290,284 | - | $1,290,284 |
| 2012 | $2,325,000 | - | $2,325,000 | - | $2,325,000 |
| 2015 | $2,428,795 | - | $2,428,795 | - | $2,428,795 |
| 2016 | $2,428,795 | - | $2,428,795 | - | $2,428,795 |
| 2017 | $2,453,795 | - | $2,453,795 | - | $2,453,795 |
| 2018 | $2,478,795 | - | $2,478,795 | - | $2,478,795 |
| 2019 | $2,825,000 | - | $2,825,000 | - | $2,825,000 |
| 2020 | $3,025,000 | - | $3,025,000 | - | $3,025,000 |
| 2021 | $3,125,000 | - | $3,125,000 | - | $3,125,000 |
| 2022 | $3,225,000 | - | $3,225,000 | - | $3,225,000 |
| 2023 | $3,580,000 | - | $3,580,000 | - | $3,580,000 |
Matt Painter’s Contract History
Back in 2004, Purdue University brought on Matt Painter as their men's basketball team's new coach. This happened after Gene Keady retired. They gave Painter a six-year deal, making him the Purdue Boilermakers men's basketball official head coach.
Over time, they expanded his contract more than once. demonstrating the belief in his coaching skills. Fast forward to 2018, the university announced Painter's deal was extended for another five years, which came with a substantial paycheck of approximately $2.8 million.
However, in 2022, the university made the decision to increase Painter's salary even further. Starting in the 2023-24 season, his annual pay was raised to $3.67 million. In the following season, 2024-25, his base salary was further raised to $3.75 million, solidifying his position as one of the highest-paid coaches in college basketball.
FAQ's On Matt Painter Net Worth, Salary and Contract
A. Matt Painter was born on August 27, 1970, in Fort Wayne, Indiana, U.S.
A. Matt Painter attended Delta High School in Muncie, Indiana.
A. Matt Painter played college basketball for Purdue University.
A. As of 2024, Matt Painter is currently the head coach of the Purdue Boilermakers men's basketball team.
A. The net worth of Matt Painter is around $10 million as of 2024.
