F1 driver salaries

F1 driver salaries – how much Formula 1 drivers earn in 2022

Find out how much F1 driver salaries are worth, including how much Lewis Hamilton, Max Verstappen and Lando Norris are paid.

It’s no secret that Formula 1 is a money-spinning sport. With some of the biggest car brands in the world competing with lucrative brand deals, the money involved in the pinnacle of racing is dizzying. And as you would expect, this is reflected in F1 driver salaries.

With a mere 20 drivers reaching the top of motorsport, they are renowned as the very best behind the wheel. And despite how good a car might be mechanically, it’s the driver who can really make the difference on the track.

And that’s why they make the big bucks. But how much do F1 drivers really earn? In this article, we’ll explore how much we think Formula 1 drivers make, how they make their money, and who the richest drivers in history are.

Lewis Hamilton and Max Verstappen are the highest-earning F1 drivers, but how much is the rest of the grid reportedly paid?

Lewis Hamilton (Mercedes) – £33.1m ($40m)
It is no surprise that Lewis Hamilton has F1’s top salary, having penned a two-year deal with Mercedes last July that runs until the end of 2023.

This number is before his many endorsements are taken into account.

Max Verstappen (Red Bull) – £29m ($35m)
Earlier this year, Max Verstappen signalled his commitment to Red Bull by signing the longest F1 deal on the grid, a five-year contract extension.

The Dutchman was rewarded for winning the 2021 F1 title with what is one of the most lucrative contracts in F1 history. The deal will keep Verstappen at Red Bull until the end of 2028.

It puts Verstappen, 24, in the same ballpark as the salary earned by Hamilton.

Fernando Alonso (Alpine) – £16.5m ($20m)
The two-time world champion was in his final year with Alpine before switching to Aston Martin for 2023.

Sebastian Vettel (Aston Martin) – £12.4m ($15m)
The four-time world champion’s final year in F1 saw him pocket a healthy sum, as joint-fourth top earner. He is retiring after the 2022 season.

Daniel Ricciardo (McLaren) – £12.4m ($15m)
The veteran Australian is joint-fourth top earner but his McLaren contract has been terminated a year early, and he won’t be on the grid in 2023.

Lando Norris (McLaren) – £12.4m ($15m)
The highly-rated British starlet penned a longterm deal with McLaren and is one of the sport’s brightest hopes.

Charles Leclerc (Ferrari) – £9.9m ($12m)
The Monegasque was handed a new five-year contract with the Italian outfit following an impressive first season at Maranello after replacing Kimi Raikkonen in 2019 and comfortably beating then-teammate Vettel.

Carlos Sainz (Ferrari) – £8.2m ($10m)
In April, it was announced that Carlos Sainz had signed a new contract with Ferrari until the end of 2024 as reward for a strong first season at the team and forming a highly-rated partnership with Leclerc. The 27-year-old now holds a contract as long as that of his teammate.

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Valtteri Bottas (Alfa Romeo) – £8.2m ($10m)
Bottas penned a multi-year contract to become Alfa Romeo’s lead driver following his departure from Mercedes.

Sergio Perez (Red Bull) – £8.2m ($10m)
Verstappen’s teammate extended his contract to remain at Red Bull after winning the 2022 Monaco Grand Prix.

George Russell (Mercedes) £4.1m ($5m)
Russell’s first season at Mercedes saw him land a big pay rise from his time at Williams. That number will soar further if he can realise his potential in the years to come.

Esteban Ocon (Alpine) £4.1m ($5m)
Race-winner Ocon earned $15m less than Alpine teammate and two-time world champion Alonso.

Pierre Gasly (AlphaTauri) £4.1m ($5m)
As AlphaTauri team leader, Pierre Gasly pocketed a cool $5m salary. That will reportedly triple to $15m a year when he moves to Alpine.

Kevin Magnussen (Haas) £4.1m ($5m)
Magnussen was paid a reported $5m salary as he made his F1 comeback with Haas in 2022.

Zhou Guanyu (Alfa Romeo) £828.5k ($1m)
F1’s sole rookie in 2022 earned $1m in his first season with Alfa Romeo, putting him on a par with Schumacher and Latifi.

Mick Schumacher (Haas) £828.5k ($1m)
Nicholas Latifi (Williams) £828.5k ($1m)
Yuki Tsunoda (AlphaTauri) £621.5k ($750k)

Tsunoda earned the least of any F1 driver in 2022. He was the only driver on a six-figure salary.

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