How Much Do Formula One Drivers Get Paid?

Max Verstappen, the reigning champion of Formula One, had a fantastic 2022 season, retaining his title with relative ease and still having several races remaining.

Although Charles Leclerc’s Ferrari campaign started off strong, it was Red Bull’s Max Verstappen who stepped into high gear to win the drivers’ championship by a massive 146 points over the Monegasque, with Sergio Perez trailing far behind in third.

Lewis Hamilton, a seven-time champion, had a forgettable season in which he finished sixth in the standings and won no Grand Prix while being overshadowed by Mercedes colleague George Russell and experiencing reliability problems himself.

Despite the setback, Hamilton spent 2022 as F1’s highest-paid driver; will that remain the case heading into 2023’s opening event, the Bahrain Grand Prix on March 5?

Formula One

In recognition of his success in the Formula One World Championship over the past two years, Verstappen has been promised a salary of $55 million beginning in 2023.

Formula One Driver’s Salaries In 2023

Below is a list of Formula One Salaries.

RankDriverTeamSalary (USD)
1Max VerstappenRed Bull$55 million
2Lewis HamiltonMercedes$35 million
3Charles LeclercFerrari$24 million
4Lando NorrisMcLaren$20 million
5Carlos SainzFerrari$12 million
6Sergio PerezRed Bull$10 million
6Valtteri BottasAlfa Romeo$10 million
8George RussellMercedes$8 million
9Esteban OconAlpine$6 million
10Kevin MagnussenHaas$5 million
10Fernando AlonsoAston Martin$5 million
10Pierre GaslyAlpine$5 million
13Alexander AlbonWilliams$3 million
14Oscar PiastriMcLaren$2 million
14Nico HulkenbergHaas$2 million
14Lance StrollAston Martin$2 million
14Nyck de VriesAlphaTauri$2 million
14Guanyu ZhouAlfa Romeo$2 million
19Logan SargeantWilliams$1 million
19Yuki TsunodaAlphaTauri$1 million
Farjad Khairi

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