HomeF1 Driver Salaries: How Much Do Formula 1 Drivers Make?

F1 Driver Salaries: How Much Do Formula 1 Drivers Make?

Formula 1 also known as F1 is the epitome of motorsports and it is an open secret that the 20 drivers participating in the sports earn a lot of money. Ever wondered how much these world-class best drivers earn?

Today we will try to decipher the earning parts as it is a tough question to answer and as you might be aware this kind of information is not available easily in the public domain.

Few Formula 1 drivers are considered to be among the highest-paid athletes in the world. These drivers post images about their lifestyle, big mansions, fast cars, etc on social media triggering speculation about how much they exactly earn. Refer to our article below!

F1 Driver salaries 2022: Estimate of the Formula 1 Drivers’ Salaries

It is a general tendency of humans that is observed across different industries in disclosing how much they earn at work. The same applies to drivers and teams who would like to keep their cards close to their chest regarding the matter of wages.

Most of the contracts of Formula 1 drivers include performance-based bonuses wherein they will get an amount based on winning a race and also scoring points over and above the threshold level agreed mutually. Most F1 drivers do not boast about their earnings however they don’t stop the press from speculating either.

The world’s highest-paid Formula 1 driver is none other than Max Verstappen, Belgian-Dutch racing driver and 2021 Formula One World Champion who took home approximately $43 million. Max competes under the Dutch flag with Red Bull Racing (RBR) team.

As per Radiotimes.com, seven-time Formula 1 world champion Lewis Hamilton is the second-highest paid F1 driver who earns approximately $40 million per annum.

F1 Driver Salaries: Introduction of a Cap on Overall Cost

Starting from the 2021 season, Formula 1 has introduced a cap on the overall cost so that there is a level playing field across the teams’ finances. There is a cap of $145 million that each team can spend throughout the season.

This amount is applicable for ‘performance-related costs’ only and does not include the cost of building the cars, mechanic and engineering salaries, testing, etc. Also, marketing costs, bonuses, travel & hotels, and driver fees are also excluded.

This implies that F1 driver salaries are not impacted by this move as teams are open to spending unlimited amounts on their drivers.

Below is the list of estimated salaries earned by F1 drivers in 2022.

PS: The below salary structure for many players is valid for different years as per their agreement with their respective teams. It is subject to change as and when renewal happens.

F1 Driver Name Team Salary
Lewis Hamilton Mercedes $40 Million
Valtteri Bottas Mercedes $10 Million
Max Verstappen Red Bull $43 Million
Sergio Perez Red Bull $8 Million
Daniel Ricciardo McLaren $15 Million
Lando Norris McLaren $5 Million
Sebastian Vettel Aston Martin $15 Million
Lance Stroll Aston Martin $10 Million
Esteban Ocon Alpine $5 Million
Fernando Alonso Alpine $20 Million
Carlos Sainz Jnr Ferrari $10 Million
Charles Leclerc Ferrari $12 Million
Yuki Tsunoda AlphaTauri $0.75 Million
Pierre Gasly AlphaTauri $5 Million
Kimi Raikkonen Alfa Romeo $10 Million
Antonio Giovinazzi Alfa Romeo $1 Million
Mick Schumacher Haas $1 Million
Nikita Mazepin Haas $1 Million
Nicholas Latifi Williams $1 Million
George Russell Williams $5 Million


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Archana Kabra
Archana Kabra
Archana Kabra is a Freelance Writer and has been extensively writing stuff related to Entertainment, Lifestyle, and Technology. She is also an ardent music lover. Twitter handle: @archana153sarda


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