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These are the 15 highest-paid coaches in March Madness

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Every spring, college basketball fans across the country fill out their March Madness brackets and make bids on which team will win the NCAA tournament. And while the debate continues around whether or not student athletes should be paid for their participation, the coaches who help guide them are raking in some of the top salaries on campus.

A recent report from personal finance site GOBankingRates used data from USA Today to determine which 68 coaches participating in the NCAA tournament earn the most throughout the season. When factoring in base salary from the school and total pay, which includes base salary plus any outside income a coach has reported, Duke University head coach Mike Krzyzewski comes out on top with earnings of nearly $9 million a year.

But unlike Krzyzewski, who doesn't have any reported potential for a bonus, some coaches on the list can easily spike their seven-figure salary by as much as $1.4 million if they hit NCAA tournament goals, win regular season and/or conference championships, as well as hit academic and player conduct goals.

See below for the full details on salary and bonus potential of the highest paid NCAA tournament coaches in 2018.

1. Mike Krzyzewski, Duke University

Mike Krzyzewski
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Mike Krzyzewski

School pay: $8,982,325

Total pay including outside income reported: $8,982,325

Max bonus that can be earned: N/A

2. John Calipari, University of Kentucky

Head coach John Calipari of the Kentucky Wildcats during the championship game of the 2014 NCAA men's basketball tournament against the Connecticut Huskies in Arlington, Texas.
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Head coach John Calipari of the Kentucky Wildcats during the championship game of the 2014 NCAA men's basketball tournament against the Connecticut Huskies in Arlington, Texas.

School pay: $7,450,000

Total pay including outside income reported: $7,994,147

Max bonus that can be earned: $50,000

3. Chris Holtmann, Ohio State University

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School pay: $7,149,849

Total pay including outside income reported: $7,149,849

Max bonus that can be earned: $390,000

4. Bill Self, University of Kansas

Head coach Bill Self of the Kansas Jayhawks signals a play from the bench in the first half of play against the Iowa State Cyclones at Hilton Coliseum on January 25, 2016 in Ames, Iowa.
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Head coach Bill Self of the Kansas Jayhawks signals a play from the bench in the first half of play against the Iowa State Cyclones at Hilton Coliseum on January 25, 2016 in Ames, Iowa.

School pay: $4,779,877

Total pay including outside income reported: $4,954,877

Max bonus that can be earned: $525,000

5. Bob Huggins, West Virginia University

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School pay: $3,750,000

Total pay including outside income reported: $3,760,000

Max bonus that can be earned: $640,000

6. Sean Miller, University of Arizona

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School pay: $3,654,853

Total pay including outside income reported: $4,054,853

Max bonus that can be earned: $1,260,000

7. Tom Izzo, Michigan State University

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School pay: $3,652,979

Total pay including outside income reported: $4,359,979

Max bonus that can be earned: $350,000

8. John Beilein, University of Michigan

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School pay: $3,370,000

Total pay including outside income reported: $3,370,000

Max bonus that can be earned: $250,000

9. Shaka Smart, University of Texas

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School pay: $3,100,000

Total pay including outside income reported: $3,100,00

Max bonus that can be earned: $1,045,000

10. Gregg Marshall, Wichita State University 

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School pay: $3,000,000

Total pay including outside income reported: $3,044,000

Max bonus that can be earned: $813,000

11. Tony Bennett, University of Virginia 

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School pay: $3,000,000

Total pay including outside income reported: $3,000,000

Max bonus that can be earned: $1,450,000

12. Avery Johnson, University of Alabama

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School pay: $2,899,497

Total pay including outside income reported: $2,899,497

Max bonus that can be earned: $450,000

13. Frank Martin, University of South Carolina

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School pay: $2,850,000

Total pay including outside income reported: $2,850,000

Max bonus that can be earned: $735,000

14. Buzz Williams, Virginia Tech 

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School pay: $2,750,000

Total pay including outside income reported: $2,750,000

Max bonus that can be earned: $290,000

15. Cuonzo Martin, University of Missouri 

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