It's all about Economics. Coaches that are proven winners bring in a lot of money for their schools. In turn the market will give those coaches a lot of money because of the ROI for coaches who can win and win big. Let's not kid ourselves, CPJ isn't paid that kind of salary because he's a good guy and GT wants to win some games (to an extent). CPJ is paid that salary because when he wins, the program brings in more money for the athletic department.
In terms of the real world, is their work as important as a doctor or a teacher or a police officer or someone in the military? Probably not. But if you notice one thing about real world salaries (salaries the "common people" make), it's all based on ability to generate revenue. Why are doctor's paid so highly? It's not because they're saving lives or helping with illness, it's because their skills generate a large amount of revenue. When I had my tonsils removed, it took the doctor all of 30 minutes to do it, and I had to pay him $25K, and the anesthesiologist $3K. That one relatively minor procedure generated almost $1K per minute.
Now you look at teachers and the military. Arguably two of the most important jobs. They both generate no revenue, and they both are paid some of the worst salaries in terms investment in education (for teachers) and risk (for those serving in the military). They most definitely should be paid more, but unfortunately, their field just doesn't generate the revenue to sustain what they deserve.
