Australian captain Steve Smith and vice-captain David Warner will earn more in this year's Indian Premier League than they will playing for their country after having their salaries doubled to $2.4 million by their Twenty20 franchises.

IPL teams each had the opportunity to hold onto three players before the tournament's super auction later this month and Smith and Warner, who will captain Rajasthan Royals and Sunrisers Hyderabad respectively, were the only Australians to be retained.

Cashing in: David Warner is captain of Sunrisers Hyderabad. Credit:AP

India captain Virat Kohli saw his IPL income skyrocket to a competition record $3.4m as he was kept by Royal Challengers Bangalore but Smith and Warner are now the highest-priced Australians in the decade-long history of the T20 extravaganza, eclipsing the $2.1m Shane Warne was picked up for by Rajasthan in 2011.

The eye-watering sums for the six-week tournament equate to more than the pair will pocket from their Cricket Australia retainers for the year.