Angus Porter, chief executive of the Professional Cricketers' Association (PCA), believes that England players are "substantially underpaid".
Due to their hectic fixture list, the Three Lions players have missed several chances to play in lucrative Twenty20 competitions across the world including the IPL.
Porter told ESPN: "It would be wrong to focus purely on the IPL. The fact is that England players have very little time to appear in any of the highly profitable T20 leagues or even in the Champions League.
"It is quite wrong to presume that central contracts are adequate compensation. England players are substantially underpaid even before we factor in the lost earnings from potential T20 appearances."
England take on New Zealand in the third and final game of their T20 series today with the hope of securing a 2-1 series victory.