The Denmark right-back has started all four of Rovers' Premier League matches after arriving from Everton on a two-year contract in the summer.
Double Champions League winner Salgado was brought in as a free agent by manager Sam Allardyce to provide more cover in defence.
Although the former Real Madrid defender has taken a few weeks to get his match fitness up, Jacobsen's form has ensured there has been no easy route into the team for the Spaniard.
"Michel is a great character and footballer and what he has done in the past is unbelievable," said Jacobsen, who returns to Goodison Park tomorrow for the first time as an opponent.
"Hopefully I can learn from him but there are a lot of games this season so you need a lot of players.
"He is not 18 years old any more but he has travelled a lot, won everything and is a big character in the dressing room.
"Competition in the squad is good, there is always someone breathing down your neck. You just have to keep the performance level up."
The 30-year-old Jacobsen is enjoying a new lease of life at Ewood Park after his career at Everton never really got off the ground.
A dislocated shoulder while on international duty prevented him making his debut until late March but he did make an appearance in the FA Cup final defeat to Chelsea.
However, with David Moyes only prepared to offer him another 12-month deal the Dane moved on and joined Rovers, where he was given the security of a two-year contract.
Despite a strong start to the season, Jacobsen is not getting too carried away as he knows fortunes can quickly change.
"I want to play as many games as possible and do as well as I can, that is my main goal," he said.
"My last season was destroyed by a shoulder injury so I need to find my form again but I think I am doing okay at the moment and I just want to play a lot of games for Blackburn and Denmark."