#3 Manchester City - £128.4 million
There were Financial Fair Play issues with Manchester City during the summer, but they are now a thing of the past.
Manchester City have often been accused of spending extravagantly. They have some of the best players in the Premier League like midfielder Kevin De Bruyne and attackers Raheem Sterling and Sergio Aguero.
These three also happen to be among the top earners at the club.
City did not enjoy the best of transfer windows this summer. They bought centre-backs Nathan Ake and Ruben Dias, as well as winger Ferran Torres.
City were strongly linked with Barcelona's Lionel Messi. Had that move gone through, it would have seen City take top place in this list.
#2 Chelsea - £128.5 million
Chelsea were extremely busy in the transfer window gone by, strengthening their squad after last season's transfer window ban.
Goalkeeper Kepa Arrizabalaga is among their highest earners, but his performances have seen him drop down the pecking order, with new signing Edouard Mendy taking his place.
German striker Timo Werner and left-back Ben Chilwell, both summer acquisitions, are also on high wages at the club.
With young talents like Kai Havertz, Reece James and Mason Mount in the squad, there is a high chance that Chelsea's wage bill could only increase as and when player contracts come up for renewals.
The club has also been linked with West Ham United's midfield lynchpin in Declan Rice, who won't come cheap either.
#1 Manchester United - £159.6 million
Manchester United have the highest wage bill in the Premier League, eclipsing Chelsea by some margin.
Their performances this season have left much to be desired, but the Red Devils have some expensive stars in their books. Goalkeeper David de Gea is their highest earner, closely followed by midfielder Paul Pogba.
However, both players' performances have come under intense scrutiny in recent months.
Captain and centre-back Harry Maguire as well as young attackers Anthony Martial and Marcus Rashford figure high in the list as well.
However, to justify their heavy expenditure, Manchester United have to become more consistent and start performing at their very best.