The Hannover boss was believed to be in the running to take charge of the Bavarians, but believes he still has work to do before he has what it takes to take charge of a top club
The Hannover boss was reportedly one of the candidates to replace Jupp Heynckes at the end of this season, but the Bavarians eventually opted to appoint Pep Guardiola instead.
"I have no business at Bayern at this point. In order to take charge of a club like Bayern, you need to have won silverware. Things would have been different had I guided Hannover to Europa League glory," Slomka told Welt.
"I'm of the opinion that it's an important prerequisite to have won something if you are to take charge of a top club.
"You have to be someone special in the way you work. You have to be able to take big decisions and command respect.
"I think I possess those qualities, but I still need to win something."
Slomka guided Hannover to fourth place in the Bundesliga in 2010-11, while they finished seventh last season to again qualify for the Europa League.