A while back, I wondered if the highest paid public employee of every state was a university men's football or basketball coach. Well, its not exactly answering the same question, but via the Sports Economist comes this article that head coaches beat the governors 49-1 in the salary sweepstakes. Only the Alaska governor makes more money than the state university head coaches (probably because there is no college football in Alaska). Governors probably have more job security, though.
Unlike my question, the author considers coaches at any college, public or private. For example, my readers found that NY is probably an exception -- there are public employees paid higher than public university coaches. This article comes to the opposite conclusion, but only because they use Syracuse University, which is a private institution.