Mbappe arrived as a free agent during the summer after his departure from Paris Saint-Germain and was placed on a base wage of €15million (£12.6m), making him the club's highest earner ahead of Bellingham and Vinicius Junior.
Despite banking a significant bonus which added to his annual earnings, Mbappe's standard salary remains Madrid's limit for their best-paid players, with Cristiano Ronaldo, Gareth Bale and Eden Hazard having taken home the same amount.
But before the striker joined, Bellingham and Vinicius stood at the top of Madrid's wage ladder with the duo earning a staggering €10m (£8.4m) per season.
However, OK Diario have claimed the €5m (£4.2m) difference in salary in favour of Mbappe could have made them uncomfortable and this led the club to take action.
Madrid president Florentino Perez has now decided to bring the three players' wages in line with each other at €15m, the same outlet reports.
This, it is said, is designed to avoid any potential differences between them.
As part of the change, Bellingham and Vinicius have seen their wages boosted by €5m since the start of the season, placing them level with Mbappe.
According to Capology.com, David Alaba is the next higher earner in the Madrid camp. The veteran defender pockets €22.5m (£18.9m) per season.
Federico Valverde is in fifth place on the list with a gross salary of €16.7m (£14m) while No 1 goalkeeper Thibaut Courtois takes home €15m (£12.6m).
Antonio Rudiger and Eder Militao earn €14.8m (£12.4m), followed by Rodrygo, Aurelien Tchouameni and Eduardo Camavinga on €12.5m (£10.5m).
Bellingham made his return from injury against Stuttgart in the Champions League this week and he has been praised as one of the best players in the world.
Michael Owen, speaking to FourFourTwo, was effusive in his praise of the midfielder and also saluted his 'swagger' on the pitch for both club and country.
Vinicius Junior (left), Bellingham and Mbappe (second from right) take home the same amount
'Jude quickly elevated himself into one of the world's great players,' Owen said.
'Playing for a club like Real Madrid isn't easy when all eyes are on you and every poor performance is pounced upon; if you can respond to that and stay at the highest level, then you belong with the best in the world. He's incredible.