Manchester City boss Roberto Mancini's new £37.5million contract makes him one of the world's best paid managers.

The City boss guided the Manchester club to their first ever Premier League title, and was duly rewarded with a new five-year deal and a mammoth pay rise, placing him above Sir Alex Ferguson and Arsene Wenger on the list of Britain's best paid bosses.

The Italian now sits top of the pile in the Premier League, but where does he rank on the worldwide table? GMF runs down the best paid managers in world football…

Luiz Felipe Scolari

Reported salary: £2.8million a year

Club: Palmeiras

The former-Chelsea boss at one stage held the title of the world's best paid boss - at Uzbeki club Bunyodkor, Scolari was reportedly earning €13million a year. His salary at Brazilian club Palmeiras is significantly less but is still reportedly among the world's highest, although the ex-Brazil manager's contract expires this summer.

With close to 20 clubs on his lengthy CV, Scolari is one of the world's most experienced managers, and his wage reflects his considerable standing in the game, even after a less than successful spell in the Premier League.

Sir Alex Ferguson

Reported salary: £4million a year

Club: Manchester United

One of Britain's most successful ever managers, Sir Alex Ferguson is also one of the best paid. A Premier League winner a remarkable 12 times, Ferguson has been at the helm of Manchester United since 1986.

Before Mancini's bumper pay rise, Ferguson was second only to Arsenal boss Arsene Wenger in the list of the Premier League's highest paid bosses, but the Scot has now been bumped further down the list.

Jupp Heynckes

Reported salary: £4.2million a year

Club: Bayern Munich

The 67-year-old Bayern Munich boss has managed the Bavaria-based team since 2011, but is yet to win a major trophy in his third spell at the club.

 

The former-Real Madrid man is thought to be Germany's best paid manager but Heynckes was pipped to the Bundesliga by Borussia Dortmund, and lost on penalties to Chelsea in the Champions League final in a disappointing end to his first full season with the club.

Carlo Ancelotti

Reported salary: £5million a year

Club: PSG

Another ex-Chelsea boss, and another one of the most experienced coaches in world football. Ancelotti is one of Serie 'A''s most successful managers in the modern era. Two Champions League trophies with AC Milan, coupled with a Serie 'A' title and a Premier League and FA Cup double with Chelsea make him one of the most in-demand managers in world football.

French club PSG, following their Qatari takeover, quickly snapped up Ancelotti after Chelsea surprisingly let him go, and the Ligue 1 side swiftly made him one of best paid managers in the world.

Arsene Wenger

Reported salary: £6million a year

Club: Arsenal

Before Mancini signed his new deal, Arsene Wenger was the Premier League's best paid boss. His hugely successful spell in north London has yielded three Premier Leagues, four FA Cups and a Champions League final appearance, but the Frenchman is without a trophy since 2005.

Guus Hiddink

Reported salary: £6million a year

Club: Anzhi Makhachkala

Hiddink has largely restricted himself to international jobs since 2006 - a brief spell in caretaker charge of Chelsea aside - but his return to club football with Anzhi in the Russian Premier League has proved hugely lucrative.

The Dutchman has managed in seven countries during his varied career, and his return to Russia in February 2012 saw the former-Madrid boss handed a 18-month deal and a monster pay packet.

Roberto Mancini

Reported salary: £7.5million a year

Club: Manchester City

Roberto Mancini pipped Ferguson to the Premier League title last season, and the City boss has now overtaken the Scot in the wage stakes as well. According to reports, Mancini's new deal makes him the second best paid manager in the world, and more than doubles his previous wage - reported to be £3.5million a year.

The Italian was thought to be a target for the Russian FA, keen to replace the now departed Dick Advocaat, but Mancini has ended speculation by committing to City for another five years. And at a reported £7.5million a year, Mancini has even reason to stay put.

Jose Mourinho

Reported salary: £10million a year

Club: Real Madrid

Another of Roman Abramovich's former managers, and one of Chelsea's most successful ever bosses. 'The Special One' has backed up his boast, and is now reportedly the world's best paid manager at Real Madrid.

The Portuguese boss has managed in four countries, winning league titles on each occasion, and has picked up two Champions League trophies - one with Inter Milan and one with Porto.

Back-to-back Premier League titles with Chelsea established the Blues as a significant force in Premier League football, and Mourinho has gone on to establish himself as one of football's premier managers.

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