Indiana Basketball Coach Mike Woodson Earns $1 Million Annual Raise

Indiana announced Friday that coach Mike Woodson has received a $1 million annual raise to the contract he signed in 2021. This makes Woodson the Big Ten's third-highest paid coach.

BLOOMINGTON, Ind. – Entering his third year, Indiana coach Mike Woodson received a $1 million annual raise, the school announced Friday.

Woodson will earn $4.2 million per year on the remaining four years of his contract, which he signed in 2021. As a result, Woodson is now the Big Ten's third-highest paid coach, behind Michigan State's Tom Izzo and Illinois' Brad Underwood.

“Upon his arrival, Coach Woodson immediately re-inserted our program into the national conversation both in terms of an elevated level of success on the court and in recruiting,” Scott Dolson, IU Vice President and Director of Athletics said. 

“I knew that returning our program to the level that Hoosier fans rightfully expect would be a process that wouldn’t happen overnight. I have been extremely pleased with the steps we have taken during the last two years. I believe under Coach Woodson’s leadership, we have positioned the program to compete at the highest levels in recruiting, which in turn will enable us to compete at the highest levels within the Big Ten and in the NCAA Tournament.” 

Indiana Head Coach Mike Woodson speaks during Senior Day activities at Simon Skjodt Assembly Hall on Sunday, March 5, 2023.

Rich Janzaruk/Herald-Times / USA TODAY NETWORK

Across the first two seasons coaching his alma mater, Woodson holds a 44-26 record and a 21-19 mark in Big Ten play. The Hoosiers finished ninth in the Big Ten during Woodson's first season, but improved to finish tied for second in the conference in 2022-23. 

Woodson led Indiana to the NCAA Tournament in each of his first two seasons, representing the program's first back-to-back tournament appearances since the 2014-15 and 2015-16 seasons under coach Tom Crean. The Hoosiers earned No. 12 and No. 4 seeds under Woodson, who holds a 2-2 record in March Madness.

Two Hoosiers became NBA Draft picks after playing for Woodson, with Jalen Hood-Schifino going No. 17 overall to the Los Angeles Lakers and Trayce Jackson-Davis being selected No. 57 overall by the Golden State Warriors. Hood-Schifino won Big Ten Freshman of the Year in his lone season at Indiana, and Jackson-Davis was named a consensus first-team All-American as a senior.

With Indiana's top scorers off to the NBA, Woodson was forced to overhaul Indiana's roster heading into his third season at the helm. Indiana lost Hood-Schifino, Jackson-Davis, Race Thompson, Miller Kopp, Tamar Bates, Jordan Geronimo and Logan Duncomb from last year's roster, but replaced them with transfers Kel'el Ware, Payton Sparks and Anthony Walker, as well as incoming freshmen Mackenzie Mgbako, Gabe Cupps and Jakai Newton. Altogether, the class ranks 10th in the nation, per 247 Sports.

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