Gerrard was one of a number of world class players in the England set up that failed to acheive anywhere near what they should have in major tournaments.
The likes of John Terry, Frank Lampard, Wayne Rooney and Rio Ferdinand never made it past the quarter-final stage of any international competition.
In his time with England, Gerrard played under Kevin Keegan, Sven-Goran Eriksson, Steve McClaren and Fabio Capello, but the Rangers boss believes the FA needed a manager in charge who was bigger than the players.
“I look back on England with a lot of regrets,” he told the BBC’s Match of the Day Top 10 podcast with Gary Lineker and Jermaine Jenas.
“I see the picture of that team and we had some fantastic groups of players over the years. We came close at times but there’s no getting away from it, we underperformed.
“Looking back, we needed a manager who was bigger than all of those individual players. There were managers available at the time, for example Rafa Benitez, but he might not have wanted to have been an international manager at that time.
“I look at managers now that are bigger than the team; Klopp, Mourinho and Guardiola. I think someone like that who was above the golden generation who was prepared to make the tough decisions would have got more out of that group of players, in my opinion.”