England had the highest-paid head coach at the European Championships

Iceland pulled off one of the biggest upsets in the history of the European Championships, beating England 2-1 in the knockout stages. England's head coach, Roy Hodgson, immediately resigned from his position, a position that paid him more than any other head coach at Euro 2016.

Hodgson, whose contract was to expire after the tournament anyways, was making US$5.55 million annually, according to FootballFinance.com. Antonio Conte of Italy is the only other head coach making more than $4 million per year.

Of the 23 coaches with known salaries, 14 make less than $1 million and that group as a whole makes less than Hodgson was making as the head of the English national team.

Cork Gaines/Business Insider