If you’ve ever wondered how much F1 drivers make for driving in F1, then we’ve got the answer for you.

As driver’s contracts are changed all the time, we aim to keep this site updated as regularly as possible. Last updated 28th March 2023.

Written By

Michael Scott

How Much Do F1 Drivers Make?

It will come as no surprise that F1 drivers make a serious amount of money. In fact, some of the highest-paid F1 drivers are amongst the most highly-paid athletes in the whole world. As of the 2023 season, F1 drivers make between $55 million to $1 million by being paid by their teams.

As well as being paid by their teams, drivers also make extra income through endorsements, sponsorships & their own companies.

F1 Driver Salaries For The 2023 Season

The below table highlights how much each driver makes per season for the 2023 season, based on their current contract.

Please note that this is the money they receive from their teams only, and doesn’t include any outside sponsorship payments.

We have compiled the salary figures from various sources. We have included a link to our source in the ‘Salary’ column for transparency.

F1 Driver Salaries Broken Down Per Race

How Do F1 Salaries Compare With Other Sports?

Formula One is still trailing behind some of the bigger sports in the world when it comes to the estimated salaries and net worth of competing athletes. That being said, both Max Verstappen and Lewis Hamilton are mixing it with some of the biggest athletes in the world.

Lewis Hamilton came in as the 17th most-paid athlete in 2022, whilst Max Verstappen came in at 26th.

Note that we could only find salaries and sponsorship income for 2022 for other athletes (via Forbes), so the figures for the F1 drivers are from the 2022 season.

Could we see F1 stars rise in the future?

Considering the growth of the sport worldwide in the past few years, I would expect to see some more F1 stars mixing it higher up the table as their endorsements and sponsorship deals grow to reflect the new popularity of F1.