He warned supporters not to assume that a top-10 spot this campaign will automatically mean a tilt at European football next season.
Asked what comes next for his side, Allardyce said: "It's more consolidation.
"For me, in our first season, this is like finishing in the Champions League places. To finish 10th in your first year, it's like Everton getting in the Champions League. I think that's the size of it. It's not an easy task to do.
"Next year becomes difficult because the West Ham fans and everyone at the football club will expect us to get better than 10th and I am saying that's going to be a difficult challenge.
"I am saying now that 10th is the target again, before we get into a new season thinking we should be finishing closer to Europe. If we do, it depends on how big the buys are this summer.