Under FA rules, English top-flight sides are currently permitted to spend no more than 40% of their turnover on wages.
Recently, the USA’s NWSL upped its own salary cap by almost 20% to $650,000 (£504,000) plus $300,000 (£233,000) of “allocation money” for a star in excess of the cap.
The NWSL's top scorer Sam Kerr signed for WSL leaders Chelsea on 13 November.
"We're open to looking at [the salary cap] if the clubs think it's restrictive," said Simmons, FA director of the women's professional game.
"It's about trying to drive a competitive balance, trying to make sure your sport is sustainable, but wanting to attract the best in the world, so it's one of those that will always be under review.
"It's important that we drive on and off-field investment in the game, as we're building the game.
"We [want to] make sure everything off the pitch enables us to deliver big audiences and be sustainable, but make sure the clubs aren't hampered from attracting world-class talent."
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The FA’s inaugural ‘Women’s Football Weekend’ experienced a record-breaking Sunday with a 70,000 strong crowd turning up to watch the six top-flight matches.
A league-record 38,262 attended Arsenal's 2-0 win at the Tottenham Hotspur Stadium, the largest venue ever to host a fixture in the WSL, which began in 2011.
Anfield hosted its first WSL fixture with 23,500 fans flocking to watch Everton beat Liverpool in the Merseyside derby.
Whilst Chelsea's home win over Manchester United at their usual Kingsmeadow ground attracted a record-breaking 4,790 sell-out, the highest for a WSL game held at a non-Premier League stadium.News Now - Sport News