Smith has warned young stars to avoid the lure of European contracts © Getty Images

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George Smith has told Fairfax Media young stars shouldn't "underestimate the lure of the Wallabies", and should avoid trying to "cash in" on lucrative French rugby deals, after several Brumbies players were linked to overseas teams.

The Australian Rugby Union is cutting costs, including player payments, to avoid a financial precipice, so the lure of the average Top 14 salary of $A250,000 has seen the Brumbies ramp up contract negotiations as they seek to re-sign their Wallabies stars. Christian Leali'ifano and Joe Tomane are two stars who have been linked to overseas clubs, while Wallabies captain Ben Mowen has already announced he will leave Australia at the end of the year to join French club Montpellier on a three-year deal.

Smith has spent the past four years playing in France and Japan, but he believes young stars should do their time in Australia before moving to Europe.

"If you're going overseas to cash in, you're not going to enjoy it," Smith told Fairfax Media. "From my experiences, you only get out what you put in. My priority has been to perform well and not treat it as a holiday, but as a way of broadening my skills and not leaving a bad taste.

"It's up to individuals ... don't underestimate the lure of the Wallabies. Money is a factor in a lot of people's decisions, but missing the chance to play for Australia is something you will regret if you chose money over Test jerseys."

Smith also believes the ARU should investigate ways for long-serving Australian players to increase their earning potential overseas without losing their right to play for the Wallabies.

"I do feel there should be some leeway for players who have given great and long service to the Australian Wallabies," Smith said. "But if I was a young player who needs to do the time ... if you want to develop your skills, Australia and the Tri Nations is the best vehicle for that."

There are fears of an exodus of Australia's best rugby talent after the World Cup next year, following the announcement of the French competition's $527 million television rights deal, but Smith is "not sure that will actually happen" because "the French Rugby Union has a percentage of players that have to be French".