I'm on my second five-year contract with Arsenal and I'm being paid £245,000 per week. I'm almost regretting signing for five years as I bet I could push for even more if the renewals were more frequent... How high can it go?! What's the biggest wage you've been given?
what do managers need wages for in terms of the game...surely you'd settle for less so there are more transfer funds?
Functionally, the larger your wages:
1. The more the board has to pay to you when they sack you, and therefore, the less likely you are to sack you. In other words, if I have 4 years left at £250,000 p/w, they would have to pay me about £52M to sack me. Even if I'm awful, losing badly, well below expectations, they are not likely to sack me due to the compensation. However, if I have 5 months left at £50,000 p/w, it might cost them just over £1M to sack me ... If I'm doing even slightly under expectations, I'm much more likely to get the sack.
2. The more a different team has to pay your current team to hire you away. In other words, the higher your "Transfer Fee" would be. It functions similarly to above - based on [I]weekly wage[I] * number of weeks remaining on contract.
3. The more of your team's wage budget you are consuming.
Basically, if you are extremely confident in your ability, and intending to play a career game where you move teams frequently, you want short contracts for the minimum value offered.
If you are unsure of your ability, or are intending to play a career game where you try to stay with a single team for an indefinite length of time, you want long contracts for the highest possible value offered.