The former AC Milan head coach has Toro in eighth position having been appointed in May after his sacking at San Siro.
It could have been a brief tenure in Turin had Mihajlovic chosen to move to the Chinese Super League when he received an offer in December, but he turned the approach down despite the wages on offer giving him “sleepless nights”.
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However, he does not harshly judge players like Oscar, Carlos Tevez and Axel Witsel, all of whom opted to make a lucrative switch to the Far East this month.
“In December I received an offer to work as a coach in China, but I decided to turn it down because I don’t like leaving work half-done,” said Mihajlovic.
“To tell the truth, I did have a couple of sleepless nights thinking about the wages I could have had. But in life you make decisions and this was my choice.
“You still have to respect those who go there for the money. A playing career is not so long, whereas that of a coach is a bit longer.
“In China you can earn five or six times what you would get here in a single season and China no longer just signs washed-up players like they do in Qatar or the USA.”
Torino are away to Sassuolo on Sunday having signed attacker Juan Iturbe on loan from Roma, with Mihajlovic conceding the 23-year-old is a risky addition.
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Mihajlovic said: “He can play on either flank and do anything. He has got good stamina, pace and a strong shot.
“This is a gamble I hope to win. Two years ago he was at the centre of a bidding war and then lost his way.
“He is very eager, but must be given enough breathing space to not be judged at every tiny error. It is up to him to prove he can be decisive.”
