You are currently viewing Revealed: F1 Driver Salaries For 2023

Revealed: F1 Driver Salaries For 2023

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.

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

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.

DriverTeamSalaryContract Length
Max VerstappenRed Bull$55 millionuntil 2028
Lewis HamiltonMercedes$35 millionuntil 2023
Charles LeclercFerrari$24 millionuntil 2024
Lando NorrisMcLaren$20 millionuntil 2025
Fernando AlonsoAston Martin$20 millionuntil 2024
Carlos SainzFerrari$12 millionuntil 2024
Sergio PerezRed Bull$10 millionuntil 2024
Valtteri BottasAlfa Romeo$10 millionuntil 2025
George RussellMercedes$8 millionuntil 2023
Esteban OconAlpine$6 millionuntil 2024
Pierre GaslyAlpine$5 millionuntil 2024
Kevin MagnussenHaas$5 millionuntil 2023
Alex AlbonWilliams$3 millionuntil 2024
Lance StrollAston Martin$2 millionrolling
Nico HulkenbergHaas$2 millionuntil 2024
Nyck De VriesAlphaTauri$2 millionuntil 2023
Zhou GuanyuAlfa Romeo$2 millionuntil 2023
Oscar PiastriMcLaren$2 millionuntil 2024
Yuki TsunodaAlphaTauri$1 millionuntil 2023
Logan SargeantWilliams$1 millionuntil 2023

Interesting Facts

– Max Verstappen earns more than 15 F1 drivers combined (from Logan Sargeant to Carlos Sainz).
– Max Verstappen earns 450% more than his Red Bull teammate Sergio Perez.
– Lando Norris gets paid 900% more than his teammate and rookie driver Oscar Piastri.
– Yuki Tsunoda is the joint lowest-paid driver in F1 for the 2023 season, despite this being his third season in Formula One.
– Valtteri Bottas earns $2 million more than George Rusell, despite Rusell replacing him at Mercedes.

– 8 out of 20 current F1 drivers live in Monaco, which is one of the most expensive places to live in the world. But that’s no surprise looking at how much they get paid!

F1 Driver Salaries Broken Down Per Race

DriverTeamSalary Per RaceContract
Max VerstappenRed Bull$2.39 millionuntil 2028
Lewis HamiltonMercedes$1.52 millionuntil 2023
Charles LeclercFerrari$1.04 millionuntil 2024
Lando NorrisMcLaren$0.87 millionuntil 2025
Fernando AlonsoAston Martin$0.87 millionuntil 2024
Carlos SainzFerrari$0.52 millionuntil 2024
Sergio PerezRed Bull$0.43 millionuntil 2024
Valtteri BottasAlfa Romeo$0.43 millionuntil 2025
George RussellMercedes$0.35 millionuntil 2023
Esteban OconAlpine$0.26 millionuntil 2024
Pierre GaslyAlpine$0.22 millionuntil 2024
Kevin MagnussenHaas$0.22 millionuntil 2023
Alex AlbonWilliams$0.13 millionuntil 2024
Lance StrollAston Martin$0.09 millionrolling
Nico HulkenbergHaas$0.09 millionuntil 2024
Nyck De VriesAlphaTauri$0.09 millionuntil 2023
Zhou GuanyuAlfa Romeo$0.09 millionuntil 2023
Oscar PiastriMcLaren$0.09 millionuntil 2024
Yuki TsunodaAlphaTauri$0.04 millionuntil 2023
Logan SargeantWilliams$0.04 millionuntil 2023

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.

1Lionel MessiFootball$130m
2LeBron JamesBasketball$121.2m
3Cristiano RonaldoFootball$115m
5Stephen CurryBasketball$92.8m
6Kevin DurantBasketball$92.1m
7Roger FedererTennis$90.7m
8Canelo AlvarezBoxing$90m
9Tom BradyNFL$83.9m
10Giannis AntetokounmpoBasketball$80.9m
11Russell WestbrookBasketball$79.2m
12James HardenBasketball$74.4m
13Matthew StaffordNFL$72.3m
14Aaron RodgersNFL$68m
14Tiger WoodsGolf$68m
16Josh AllenNFL$67m
17Lewis HamiltonFormula 1$65m
18Tyson FuryBoxing$62m
19Naomi OsakaTennis$59.2m
20Damian LillardBasketball$57.4m
26Max VerstappenFormula 1$48m

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.

Michael Scott

Michael is the founder of Into Turn One and has loved all things motorsport from a young age. Michael started following F1 full-time when Lewis Hamilton broke onto the scene in 2007, and Lewis is still his favourite driver.