Influential leader Gerrard believes Rodgers requires a new deal, one that may give him parity with Manchester United's manager, but not Chelsea.
According to France Football there is a €13m annual difference between the highest paid football manager and the 20th highest.
Chelsea pay Jose Mourinho €17m every year, Arsenal set aside €9.6m per year for Arsene Wenger while Manchester United and David Moyes agreed a contract worth €6.4m each season.
One of the standout managers of the current season, Brendan Rodgers, was not even on the list but, with the Ulsterman fast approaching the expiration of his deal (it expires next summer), the club's board of directors will surely renew terms which begs the question - just how big a deal does Rodgers deserve?
Rodgers began his Anfield tenure in June, 2012 and has since built a team high on confidence who play with an aesthetically-pleasing swagger. He has also overseen the talents of players such as Joe Allen, Raheem Sterling and Jordan Henderson while also effectively man-managing Luis Suarez from a hot-headed troublemaker to the best player in world football from the past six months.
Influential Liverpool captain Steven Gerrard, 33, has even implored the club's owners to send a new, improved and extended contract to Rodgers' office at Melwood and was quoted recently by The Guardian to have said: "I have been absolutely blown away by his sessions, his tactics and his maturity in the job and I am learning off him every single day.
"When you become an older player you look to see how the manager does certain things and he has been fantastic for myself personally. I am sure the rest of the players would echo what I am saying. I am absolutely delighted he is here and I just hope that there is a lot of movement [with a new deal] because [the owners] have got to get him signed up as soon as possible."
Considering the sums awarded to his rival managers, would Rodgers warrant a contract worth more than David Moyes?
At Manchester United, despite their underwhelming season and run of seven losses from 14 matches in 2014, Moyes is still responsible for overseeing 24 wins from 45 - a 53% win rate. Perhaps surprisingly, this is greater than Rodgers despite the Kop man's impressive campaign in the current season as, with 45 victories from 86, Rodgers has a winning percentage of 52.
If both Moyes and Rodgers were available in the managerial market, though, there would be a high demand for the latter, reflected in the speculation linking the Liverpool boss with the Barcelona position.