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.
Overall it wasn’t easy today as the track is quite bumpy. We’ve got some work on our hands overnight, but we will be back at it tomorrow 🇺🇸 pic.twitter.com/J10dWgvh1Z
— Max Verstappen (@Max33Verstappen) October 22, 2021
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.
These quieter moments before the weekend kicks off and engines start — they never get old. Our work never stops and we’re as determined as ever. pic.twitter.com/AbcdkzxXIC
— Lewis Hamilton (@LewisHamilton) September 23, 2021
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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