John N
Formula 1 drivers are some of the best paid professional athletes in the world. Being a Formula One driver is no easy feat, racing cars on the limit with one mistake resulting in certain doom. But if you are good at what you do, it also pays well. In fact, a lot of people have wondered what Formula One drivers make…so I decided to take a look.
Unlike many other sports, such as NFL, NBA or Soccer, there is no official list of Formula 1 driver salaries. The reason behind this is the fact that most F1 drivers earn their salaries via sponsorship deals. F1 driver salaries are negotiated with their sponsors and team bosses. This means that the amount of money made by an F1 driver will vary from one driver to another. Some drivers will receive larger salaries for driving for bigger teams, while others will earn larger amounts due to sponsorship deals.
The largest portion of drivers’ earnings comes from basic salary. Each driver has a unique contract with his team that stipulates how much he makes. Bonus payments are determined by race placement and tiered sponsorship deals. The more races a team wins, the more money it gets from its sponsors—and this all trickles down to the driver’s basic salary. A driver’s basic salary is usually split into two parts: fixed and performance-based pay. Fixed pay depends on factors like age and experience, while performance-based pay depends on how well he performs in the races. Some drivers make much more than others because of their contract.
Here’s a list of Formula One Driver’s Salary
Alfa Romeo Racing
DRIVER AGE COUNTRY SALARY
Valtteri Bottas 32 Finland $10,000,000
Guanyu Zhou 22 China $1,000,000
Alpine F1 Team
DRIVER AGE COUNTRY SALARY
Fernando Alonso 40 Spain $20,000,000
Esteban Ocon 25 France $5,000,000
Aston Martin F1 Team
DRIVER AGE COUNTRY SALARY
Sebastian Vettel 34 Germany $15,000,000
Lance Stroll 23 Canada $10,000,000
Aston Martin Red Bull Racing
DRIVER AGE COUNTRY SALARY
Max Verstappen 24 Netherlands $25,000,000
Sergio Pérez 31 Mexico $8,000,000
Haas F1 Team
DRIVER AGE COUNTRY SALARY
Nikita Mazepin 22 Russia $1,000,000
Mick Schumacher 22 Germany $1,000,000
McLaren F1 Team
DRIVER AGE COUNTRY SALARY
Daniel Ricciardo 32 Australia $15,000,000
Lando Norris 22 United Kingdom $5,000,000
Mercedes-AMG Petronas F1 Team
DRIVER AGE COUNTRY SALARY
Lewis Hamilton 37 United Kingdom $40,000,000
George Russell 23 United Kingdom $5,000,000
ROKiT Williams Racing
DRIVER AGE COUNTRY SALARY
Alexander Albon 25 Thailand $2,000,000
Nicholas Latifi 26 Canada $1,000,000
Scuderia AlphaTauri Honda
DRIVER AGE COUNTRY SALARY
Pierre Gasly 25 France $5,000,000
Yuki Tsunoda 21 Japan $750,000
Scuderia Ferrari Mission Winnow
DRIVER AGE COUNTRY SALARY
Charles Leclerc 24 Monaco $12,000,000
Carlos Sainz Jr 27 Spain $10,000,000
Today, many Formula 1 drivers bring in seven figures annually. The best Formula One drivers (the ones at the top of the list,) can make well over $40 million per year with endorsements and prize money. Although drivers only compete for 45 days a year (they get two weeks off between races,) they must prepare for those races like any other professional athlete would. That means on-track training, lots of travel, sponsors, and tons of media appearances. In addition to the prize money and appearance fees, team sponsors often contribute significant amounts of money to F1 drivers’ earnings each year.
