New Chelsea boss Lampard will earn £3m less than West Ham manager Pellegrini at Stamford Bridge

CHELSEA have appointed Frank Lampard as their new manager on a £16.5million three-year contract — but the Blues hero is not among the Premier League's highest earning coaches.

The Blues confirmed his appointment on Thursday, on a three-year contract worth £5.5m per season.

The former midfielder has been tasked with keeping the club in the title mix despite a Fifa transfer ban.

While he will earn more than the £5m annual salary taken home by Maurizio Sarri, a number of rivals are set to bank considerably higher than Lampard.

Manuel Pellegrini arrived at West Ham with the remit of revitalising a club with its sights on Europe and, as such, was handed a £7m pay packet.

Southampton found themselves in an even greater mess when appointing Ralph Hasenhuttl.

The former RB Leipzig boss, who took the Bundesliga debutants to second in 2016/17, agreed a £6m wage before keeping the Saints in the Premier League.

Arsenal coach Unai Emery is also on a £6m salary, off the pace of his top-four competitors.

After impressing as Manchester United interim manager, Ole Gunnar Solskjaer was put on a £7.5m contract for three years with Liverpool boss Jurgen Klopp understood to be on the same amount.

In second place is Mauricio Pochettino, who signed a new five-year contract at Tottenham last season.

Pep Guardiola is the best paid manager in the country, having led Manchester City to two consecutive Premier League titles with a record points total to boot.

The club want to tie him down to a new contract and the Spaniard's wage is estimated to be between £15m and £20m.

Completing the top ten are Leicester boss Brendan Rodgers, on £5m per season, and £4m earner Eddie Howe of Bournemouth.

Burnley manager Sean Dyche is thought to be on £3.5m after keeping the club up once again last season with Everton and Wolves' Portuguese bosses, Marco Silva and Nuno Espirito Santo, taking home £3m.

Rafa Benitez is on a tidy £6m but his Newcastle contract expires at the end of the month.