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Considering only coaches who are active today, it is possible to objectify the question pretty easily. How they're "rated" can be based on how much a school sees fit to pay them, and whether or not they're worth it ("overrated" or not) depends on what success they've delivered for that price tag.
Following that line of inquiry, it is reasonable to conclude that Jim Harbaugh, Charlie Strong, Kevin Sumlin, and James Franklin all rank high on the over-rated scale:
Everyone believes Harbaugh is bound to "pay off" soon ... and he might. Then again, he may not. Same with Sumlin at A&M, and Strong at Texas. Most rational folk are already concluding that Franklin is a bust, even many Penn State fans. Only time will tell on any of them.
- Highest paid coach never to win a national title: Jim Harbaugh ($7,004,000 / year) ... next highest: Charlie Strong ($5.1M). NOTE: plenty of coaches who make less have won national championships and continue to coach...I stopped counting after finding eight.
- Highest paid coach never to win a conference title: Kevin Sumlin ($5M) ... next highest: James Franklin ($4.4M). Plenty making less than Sumlin who have won their conference, as well.
- Highest paid coach never to win a division title: James Franklin ($4.4M). Ditto earlier comment about more cost-efficient coaches lower on the pay scale.
For now, they are the four highest-paid coaches in college football today who have yet to see college championships at the levels highlighted, whether at their current school or any previous stop.
Name all the current FBS coaches not named Jim Harbaugh that have been to the Super Bowl as a head coach in the last five years.................................