Liverpool defender Carragher and Stoke striker Owen are set to bring down the curtain on their glittering careers at the end of the season.
The duo, who both came through the ranks at Liverpool at the same time, have been tipped to stay in the game and move into management, but the pair admit they are in no rush to take up coaching.
"We all look at (Sir Alex) Ferguson and (Jose) Mourinho and think we'd love to be them - on the sidelines, winning games, big trophies - but you have to think where they started," Carragher told the Daily Express.
"Mourinho was an assistant for years. Brendan Rodgers hasn't just got the Liverpool job. He has been working for 20 years.
"Would I be prepared to go and work at an academy? Maybe, but it's not top of my list of things that I want to do.
"I'm not sure players in our situation will go down that road. Maybe if you get a good job straight away, but think of the journeys the managers have gone on to get to the top. Very few top players now would be prepared to do that."
Owen echoed his old team-mate's sentiments and admitted if he is missing football he would consider taking up a coaching role.
"Some days you look at what you've learnt and think, 'I'd love to give it a go'. But then the work you have to put in is a lot," admitted Owen.
"If I'm missing football, I'll see. But the doubt is whether you can do 10 to 15 years of hard work to get there."