A study by website futebolfinance.com has revealed Real Madrid's Jose Mourinho to be comfortably the world's highest-paid coach, according to the Sportinformations agency.
The Portuguese boss, who has won the Champions League with both FC Porto and Inter Milan and is in line to win the Liga title in his second season in Madrid, is reported to earn 10 million euros ($13.1m) per year.
According to the study, he is followed by Barcelona nemesis Pep Guardiola and veteran Dutchman Guus Hiddink - now in charge of ambitious Russian club Anzhi Makhachkala - with both pocketing 7.5 million euros ($9.8 million).
Both Mourinho and Guardiola are believed to be targets of free-spending Chelsea owner Roman Abramovich, who is looking for a coach after sacking Andre Villas-Boas last weekend.
In the meantime, Manchester City's Roberto Mancini is the highest-paid Premier League coach, earning six million euros ($7.9m) per year.
Former Chelsea manager Carlo Ancelotti, now with Paris Saint-Germain, is fifth on the list, with Sir Alex Ferguson, Kenny Dalglish, Arsene Wenger and Harry Redknapp also in the top ten.
The departure of Fabio Capello from the role of England manager means that Switzerland boss Ottmar Hitzfeld is now the highest-paid national coach in the world, with the study revealing his annual salary to be 2.6 million euros ($3.4m).
Despite his lucrative salary - the 19th-highest on the overall list - the veteran German failed to lead his adopted country to the finals of Euro 2012 this summer in Poland and Ukraine.
Spain's World Cup-winning coach Vicente Del Bosque ranks 22nd in the list.
The ten highest-paid coaches in the world, according to futebolfinance.com study:
1. Jose Mourinho (Real Madrid) - 10 million euros ($13.1m)
2. Pep Guardiola (Barcelona) and Guus Hiddink (Anzhi Makhachkala) - 7.5 million euros ($9.8m)
4. Roberto Mancini (Manchester City) - 6 million euros ($7.9m)
5. Carlo Ancelotti (Paris Saint-Germain) - 5.9 million euros (($7.7m)
6. Jupp Heynckes (Bayern Munich) - 5 million euros ($6.6m)
7. Sir Alex Ferguson (Manchester United) and Kenny Dalglish (Liverpool) - 4.8 million euros ($6.3m)
9. Arsene Wenger (Arsenal) and Harry Redknapp (Tottenham Hotspur) - 4.7 million euros ($6.2m)