Mane, 30, is set to join the German champions on a three-year deal after Liverpool accepted a bid worth up to £35.1m for the Senegal international.
According to The Mirror, Mane is expected to earn £250,000 per week at the Allianz Arena.
It is a significant increase on his current weekly salary at Liverpool, which is believed to be around £100,000.
Mane has just one year remaining on his current deal at Anfield and Liverpool have opted to cash in on the forward, rather than seeing him potentially leave on a free transfer next summer.
Mane held contract talks with Liverpool earlier this season but the two sides failed to reach an agreement.
The former Southampton forward reportedly requested an improved weekly salary of £400,000 per week.
That figure would have brought him into line with the Premier League’s highest-earners.
Mohamed Salah, who also has just one year remaining on his Liverpool contract, has reportedly requested a similar figure in his own contract negotiations with the club, which remain ongoing.
Salah is already one of the best paid players at Liverpool along with Virgil van Dijk and Thiago Alcantara.
Salah and Thiago are both believed to earn around £200,000 per week, with Van Dijk paid a weekly wage of £220,000.
Mane is expected to complete his move to Bayern next week once he has passed a medical with the Bundesliga champions.
However, former Liverpool and Wales striker Dean Saunders has warned Mane he has been warned he could be wasting some of the best years of his career if he moves to Germany.
He told talkSPORT: “Nothing against the club, it’s a great club, but the league is nowhere near a challenge for Mane. He’ll get goals. They win 5-0 every week, only one team can win the league.
“It’s not a challenge. He will get in his armchair, light a cigar up, he’ll play for Bayern in third gear and he’ll coast for two years and ruin the best two years of his life as a footballer.
Saunders added: “At the end of his career, if he said to you ‘come and look at my trophy cabinet’, the German league winners medal will be right at the back.”