Coaching legend Leigh Matthews and former Geelong premiership counterpart Mark Thompson have urged clubs to rein in the salaries of senior coaches.

With Carlton facing a payout to the sacked Mick Malthouse of between $500,000 and $600,000, with his overall annual contract worth about $1 million, Matthews says clubs need to spend their money more wisely.

"$500,000 is the most a senior coach should be getting in modern footy because it is now not about the senior coach. It is about the senior coach and eight assistants," Matthews said.

"It is like a coaching panel. So devoting $1 million to any person, I don't care whether it is Alastair Clarkson or Mick Malthouse or Ross Lyon, I think it is vastly over what the senior coaching role should be by comparison."

The league's top coaches pocket more than $700,000 a season, with Melbourne's Paul Roos believed to be the highest-paid, thought to be collecting up to $1.5 million a season. Most coaches also have financial incentives if they make the finals or win a premiership.