While Watson, the reigning Allan Border medallist, is expected to shoot to number four behind Ricky Ponting, Michael Clarke and Mitchell Johnson, Bollinger and Harris are in line to become $1 million-a-year players.

Ponting is under increasing pressure to keep his No 1 ranking given he has retired from Twenty20 internationals and his vice-captain, Michael Clarke, has outperformed his skipper during the past two seasons.

There are precedents for captains not being the highest-ranked player, with Glenn McGrath consistently topping the list during the peak of his career.

The losers are expected to include ageing fast bowlers Stuart Clark and Nathan Bracken, who were last year listed as Australia's leading Test and one-day bowlers on the official International Cricket Council rankings.

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Others likely to lose their contracts including Brad Hodge, Graham Manou and Andrew McDonald.

Brett Lee's contract will be significantly down-graded after his ageing body forced him to retire from Test cricket, although he is in Australia's 15-man squad for the World Twenty20 in the Caribbean later this month.

So is Shaun Tait, who has a contract but creates a real quandary for the selectors as a T20 specialist who no longer plays first-class cricket for South Australia.

His Australian Twenty20 new-ball partner, Dirk Nannes, has also retired from first-class cricket, while the explosive and dynamic Dave Warner has been pegged as a T20 specialist. Neither have CA contracts.

Australian Cricketers Association chief executive Paul Marsh fears the T20 specialists are in danger of being lost to competitions such as the IPL if they are not adequately compensated with contracts.

The last Memorandum of Understanding between the ACA and Cricket Australia bracketed 50-over and 20-over cricket together as limited-overs cricket to give T20 players some standing but Marsh fears this may not be enough. "The bigger picture here is we've got guys who are Twenty20 specialists who are highly sought after in the IPL and other competitions potentially not getting Australian contracts," Marsh said.

"The best they can do in Australia is a state contract and my fear is we may not be able to hold on to these players.

"I think that Australian cricket needs to have a good look at that."

Such is the growing wealth of world cricket, driven largely by selling massive television rights to India, that the average annual payment to Australia's cricketers is now $1m, taking into account base payments along with tour and match fees and prize money.

Bollinger and Harris must charge into the top dozen and that seven-figure bracket because they are playing in the Test and limited-overs sides. They will join Ponting, Clarke, Johnson, Watson, Brad Haddin, Mike Hussey and Nathan Hauritz, along with injured pacemen Ben Hilfenhaus and Peter Siddle.

Fellow fast bowler Clint McKay also made his Test debut during the summer and has been a regular in the one-day squad but has been overtaken by Harris.

Even so, McKay is also like to gain a substantial pay rise.

Another recently upgraded player, exciting young all-rounder Steve Smith, is also likely to squeeze on to the list of 25.

Yet another upgrade, Tim Paine, is expected to replace Manou as the second wicketkeeper in the 25-man squad.