Saracens last week led calls for the cap, which will rise to £5.5m from the start of next season, to be abolished to help English clubs compete with cash-rich French clubs.
Saints will lose Samu Manoa and Salesi Ma’afu to moneybags Top 14 giants Toulon next summer.
But Mallinder, who led his side to the double last season, has become an expert in developing players.
And the Saints director of rugby believes he can continue to do that while working under a salary cap system.
“It’s a business and we’ve got a cracking crowd, which is growing, we’re expanding the ground so hopefully we can get more players in,” said Mallinder.
“My board are very, very supportive, they give me money to spend up to that salary cap. We can’t go up to £15m, £20m.
“I’ve got no interest (in scrapping the salary cap). You really need to ask the chief execs and board whether they’re prepared to spend more money, but I’d guess the answer is no.”