Jonathan Smith’s net worth is likely to hike exponentially with his seven-year contract as the head football coach at Michigan State University.
Smith left his running deal with Oregon State to sign with the Michigan State Bears in November 2023.
Under his current contract terms, the California native’s 7 figure salary gets a raise of $100K every year. By the end of his contract in the 2030 season, he could sum up more than $50 million.
Aside from career perks, he enjoys a blissful married life with his wife, Candice Huddle.
Jonathan Charles Smith, born on January 18, 1979, is an American college football player-turned-coach who played quarterback at Oregon State (1998-2001).
Subsequently, after graduation, he worked as an assistant coach at his alma mater, Oregon State University. There, Smith served under the head coach, Dennis Erickson, from 2002 to 2003.
He would spend more than a decade as quarterbacks coach at colleges: Montana, Idaho, Boise State, and Washington.
Later, he became the head coach of the Oregon State Beavers (2018-23) and coached future NFL players like Luke Musgrave, Isaiah Hodgins, and Nahshon Wright.
Nearing the end of 2023 NCAA football, Smith joined as the head coach of Michigan State Spartans, filling the vacant place of Mel Tucker.
Jonathan Smith Net Worth: Michigan Contract And Salary
As of 2024, the newly appointed MSU Spartans coach Jonathan Smith has an estimated net worth of $8 million.
Having worked as an assistant coach for 16 years (2002-2017), Smith’s stint as head coach came in 2018 for his alma mater, Oregon State.
After six seasons at Oregon, he became the head coach of Michigan State on November 25, 2023.
Thanks to his seven-year multi-million dollar contract with the Spartans, Smith’s net worth will skyrocket by the end of the deal on January 31, 2031. As reported, he will earn $52.85 million in total.
Jonathan’s salary in 2023 is $7.25 million (inclusive of $6 million base salary & $1.25 million in supplement income).
This paycheck is $2.4 million more than he was getting at Oregon State Beavers before making the move.
Smith’s new contract offers him a payroll rise of $100K each year. So, by the end of his contract (in his 7th season), his salary will be $7.85 million.
The 2022 Co-Pac-12 Coach of the Year joins the list of highest-paid college coaches; the top three earners are Nick Saban ($11.407 million), Kirby Smart ($10.706 million), and Brian Kelly ($9.975 million).
Other Perks Of His Deal With Michigan State
Jonathan’s contract with Michigan is 85% guaranteed should the college fire him without a cause.
Moreover, if he opts to leave in the middle of the contract, he will have a buyout contract of $7 million, starting in December 2024. It will then drop $1 million each year until his seven-year deal runs out.
On the other, if Smith manages to reach some designated targets, he has an opportunity to make $1.96 million annually (if he reaches all 12 categories). It includes:
- $150,000 for reaching the 12-team College Football Playoffs
- $400,000 for winning a national title
- $200,000 for reaching the Big Ten championship game
- $200,000 for winning a conference title.
Moreover, he has authority for the pool of $10.75 million for 10 assistant coaches and support staff.
Jonathan’s Earnings At Oregon State: Contract Details
When Smith joined Oregon State Beavers as its head coach in November 2017, he was earning an annual salary of $1.9 million from his five-year contract.
It also included a one-year extension after every six-win season.
In the 2021 season, Jonathan led the team to the LA Bowl (though they lost to the Utah State Aggies).
As a result, he got a restructured six-year contract, which saw him a salary of $3.25 million in 2022, totaling a pay of $22.6 million.
But again, after a historic 10-3 record in 2022, the Oregon State Beavers offered him a revised six-year contract with $4.85 million for the 2023 season. It placed him at fifth in the Pac-12 in compensation.
Nearing the end of 2023, Michigan State got him to sign with them, offering a yearly payroll of around $7 million.
