How much do F1 drivers make?

As Formula One continues to gain popularity around the world, there’s one question many are wondering. How much do F1 drivers make? Like any job, salaries differ depending on skill level, experience, and many other factors. But if you’re curious about the average salary for an F1 driver and the highest-paid F1 drivers, you’ve come to the right place.

Down below, you’ll find answers for how much Formula One drivers earn, along with the top earners among F1 drivers today and all-time.

Related: Explaining the F1 points system: Everything you need to know about F1 scoring

F1 driver salaries

As you can imagine, F1 driver salaries vary greatly. How much does an F1 driver get paid? Salaries range anywhere from $1 million to $55 million per driver. Obviously, this is a large range, with a massive gap between the two salary figures. Much of this is due to differences in skill, endorsements, and past achievements.

  • Formula 1 driver’s salaries: Range from $1 million to $55 million per driver

There have been discussions of Formula One implementing a driver salary cap, but no such rules have come to fruition. You’ll find who the highest-paid Formula One driver today is in the next section.

Related: What is the difference between F1 and IndyCar?

Highest-paid F1 drivers

max verstappen
David Kirouac-USA TODAY Sports

The highest-paid F1 driver is Max Verstappen. The Dutchman is the reigning Formula One World Champion for two years in a row. But how much does Verstappen make? Here are the highest-paid F1 drivers in 2023, according to Spotrac.

  1. Max Verstappen – Red Bull Racing – $55 million
  2. Lewis Hamilton – Mercedes – $35 million
  3. Charles Leclerc – Ferrari – $24 million
  4. Lando Norris – McLaren – $20 million
  5. Carlos Sainz Jr. – Ferrari – $12 million
  6. Sergio Perez – Red Bull Racing – $10 million
  7. Valtteri Bottas – Alfa Romeo – $10 million
  8. George Russell – Mercedes – $8 million
  9. Esteban Ocon – Alpine – $6 million
  10. Pierre Gasly – Alpine – $5 million
  11. Fernando Alonso – Aston Martin – $5 million
  12. Kevin Magnussen – Haas – $5 million
  13. Alexander Albon – Williams – $3 million
  14. Oscar Piastri – McLaren – $2 million
  15. Niko Hulkenberg – Haas – $2 million
  16. Lance Stroll – Aston Martin – $2 million
  17. Nick De Vries – AlphaTauri – $2 million
  18. Guanyu Zhou – Alfa Romeo $2 million

Who is the lowest-paid F1 driver? American F1 driver Logan Sargeant and AlphaTauri’s Yuki Tsunoda are Formula One’s lowest-paid drivers today. They are both on a $1 million salary for the 2023 season. Daniel Ricciardo’s salary is unknown.

Related: What is DRS in F1?

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