Gerrard is under no illusions of what is needed to eventually succeed Jurgen Klopp at Anfield.
He told the Daily Mail: "I understand why because I was captain for so long and a large chunk of the fanbase would like me back at the club. But I'm bright enough to realise that, first and foremost, you have to be good enough. The owners need to think you're the right man.
"Let's say Klopp wins the Premier League, Champions League and goes because he feels he can't do any more. They aren't going to pick me if I am only the 20th best candidate.
"And nobody asks if I think I need two or three goes elsewhere. If I got the chance [at Liverpool] I'd want to be best prepared. You can't plan everything season by season. If things turn in months, you'd be out of work.
"That's how brutal the job is, but you are aware before you go in. Jurgen Klopp told me he'd made two years of mistakes away from the cameras, getting his pitch confidence. That is what I did at Liverpool with the youngsters. I didn't go into Rangers thinking I'd cracked it. Am I ready for the Liverpool job right now? Maybe not."