O'Neil was asked if Wolves could match his own ambition, which he felt was not an issue.
"I don't see it like that, I'm lucky to be here," O'Neil said when asked of their mutual ambitions.
"I don't think Wolves having to match my ambitions should be a thing. We're both really connected in where we are and what we're trying to achieve.
"The club is trying to move forward and so am I.
"It's a massive football club, so I don't think this football club will ever have an issue in trying to match my ambition.
"There is some financial stuff that we're all very aware of. We need to do really well in transfer markets and I need to do really well in my coaching to make sure we keep being competitive.
"But I can never see my ambition outgrowing a club the size of Wolverhampton Wanderers."