NC State Men’s Basketball Head Coach Candidate: Unpacking Will Wade’s Contract at McNeese St.

Much has been written about Wade’s resume, highlighting how he would be a perfect fit for the Wolfpack. In this piece, we will break down his contract situation at McNeese St.

Back on March 14, 2023, the Cowboys announced Wade as their new Head Coach, signing him to a five-year contract worth $1.75 million. Here’s a breakdown of what his salary was set to be annually for all five years in the original contract:

2023-24: $200K
2024-25: $225K
2025-26: $250K
2026-27: $250K
2027-28: $250K
Below is the bonus structure of his original contract with McNeese St.:

Southland Regular Season Conference Championship: $5,000
Southland Conference Tournament Finals Appearance: $5,000
Southland Conference Tournament Championship: $15K
Each win at the NCAA tournament: $25K
NIT tournament appearance: $2,500
Each win at the NIT tournament: $1,000
Southland Conference Coach of the Year: $10K
National Coach of the Year (limit of one): $20K
The coach shall receive a financial incentive award for each team with an NCAA Single Year Academic Progress Rate (APR) score that is at or above 985: $1,500
The coach shall receive a financial incentive for each team with an NCAA Multi Year Academic Progress Rate with a score at or above 975: $1,500
In Year 1 in Lake Charles, Wade made a base salary of $200K and earned at least $35K in bonuses (I’m not sure about the academic bonuses), after leading the Cowboys to the Southland Regular Season and Conference Tournament Championship, as well as being named the Southland Conference Coach of the Year.

On February 6, 2024, McNeese St. signed Wade to a new five-year contract, which included a significant raise and a one-year extension. The new annual salary was bumped up to $700K. While the exact layout of the bonus structure in Wade’s new contract has not been detailed, after winning the Southland Regular Season and Conference Tournament Championships, as well as the Conference Coach of the Year Award again, he has already earned $55K in bonuses this season.

McNeese State men’s basketball coach Will Wade picks up $25,000 bonus as Cowboys win Southland Conference tournament final over Lamar. He now has $55,000 in bonuses so far.

— Steve Berkowitz (@ByBerkowitz) March 12, 2025

If NC State were to hire Wade, the buyout of his contract would be $1 million.