From sportscasting.com
"The days of $70K personnel directors are long gone. Top-end GMs are already clearing $1 million annually — particularly in football. Contracts in the $300K to $700K range are now standard across most Power Five programs, with incentives tied to recruiting class rankings, portal retention, and compliance outcomes.
UNC football GM says program will have pro-style model under Belichick
At UNC, NFL veteran Michael Lombardi took over as GM under Bill Belichick, and is rumored to be on $1.5 million annually. Other schools have hired former agents, pro scouts, or even NFL executives. The title varies, but the pay reflects the power. In some programs, GMs now earn more than coordinators."
I did not know that Woj is a GM. Shaq will be a GM. And, yes, it appears it is a paid position, from the above, though probably less because football is king, like oil, in America. To answer a question in the comments for myself, I had to search for that gem. None of the reports mention a salary. He might waive his, but they are salaried positions, and can be hard work.
https://www.hoopsrumors.com/2025/08/damian-lillard-to-serve-as-gm-for-weber-state-basketball.html