Earning The Big Bucks

In today's L.A. Times, Gary Klein points out that USC's next opponent, Nebraska, just gave Coach Bill Callahan an extension which will bump his compensation package to about $2 million per year. And USC's coach?

Carroll, who signed a five-year contract worth approximately $1 million annually when he was hired by USC to replace Paul Hackett in December 2000, earned nearly $3 million in 2004 when the Trojans won their second consecutive national title, according to sources. In December 2005, Carroll said he had finalized a contract extension that would keep him at the school "for the long haul."

As a private institution, USC is fairly guarded about how it spends its money. But as a nonprofit, it has to file tax returns that disclose its five "highest paid employees" (outside compensation is another matter). Sitting at #1 for at least three years in a row -- by a large margin -- is Pete Carroll. Here's the "Top 5" page taken from the three most recent available returns:

USC 2004 Tax Return (PDF)

USC 2003 Tax Return (PDF)

USC 2002 Tax Return (PDF)

Yes, it looks like the 2003 form is missing a zero. We're checking on it.

UPDATE (Friday, September 7): The 2003 return is accurate, but omits actual salaries (the number in that column is deferred compensation). Carroll made $1,844,231. Bibby made $470,500. Westerfield made $412,000. Huffman made $405,708. Garrett made $400,000.