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.
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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.
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Highest-paid F1 drivers
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.
- Max Verstappen – Red Bull Racing – $55 million
- Lewis Hamilton – Mercedes – $35 million
- Charles Leclerc – Ferrari – $24 million
- Lando Norris – McLaren – $20 million
- Carlos Sainz Jr. – Ferrari – $12 million
- Sergio Perez – Red Bull Racing – $10 million
- Valtteri Bottas – Alfa Romeo – $10 million
- George Russell – Mercedes – $8 million
- Esteban Ocon – Alpine – $6 million
- Pierre Gasly – Alpine – $5 million
- Fernando Alonso – Aston Martin – $5 million
- Kevin Magnussen – Haas – $5 million
- Alexander Albon – Williams – $3 million
- Oscar Piastri – McLaren – $2 million
- Niko Hulkenberg – Haas – $2 million
- Lance Stroll – Aston Martin – $2 million
- Nick De Vries – AlphaTauri – $2 million
- 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.
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