Formula 1
| Rank | Driver Name | Base Salary ⬍ | Bonus ⬍ | Total ⬍ | Team | Contract Duration |
|---|---|---|---|---|---|---|
| 1 |
Max Verstappen
|
$ 55m | $ 20m | $ 75m | Red Bull | 5 year (2024/28) |
| 2 |
Lewis Hamilton
|
$ 50m | $ 20m | $ 70m | Ferrari | 2 year (2025/26) |
| 3 |
Charles Leclerc
|
$ 34m | $ 12m | $ 46m | Ferrari | 6 year (2024/29) |
| 4 |
Lando Norris
|
$ 20m | $ 15m | $ 35m | McLaren | 3 year (2025/27) |
| 5 |
Oscar Piastri
|
$ 20m | $ 10m | $ 30m | McLaren | 4 year (2025/28) |
| 6 |
Fernando Alonso
|
$ 18m | $ 9m | $ 27m | Aston Martin | 2 year (2025/26) |
| 7 |
George Russell
|
$ 15m | $ 8m | $ 23m | Mercedes | 2 year (2024/25) |
| 8 |
Carlos Sainz Jr
|
$ 10m | $ 5m | $ 15m | Williams | 2 year (2025/26) |
| 9 |
Pierre Gasly
|
$ 10m | $ 3m | $ 13m | Alpine | 2 year (2025/26) |
| 10 |
Alex Albon
|
$ 5m | $ 8m | $ 13m | Williams | 3 year (2024/26) |
| 11 |
Nico Hülkenberg
|
$ 5m | $ 2m | $ 7m | Sauber | 2 year (2025/26) |
| 12 |
Esteban Ocon
|
$ 5m | $ 2m | $ 7m | Haas | 3 year (2025/27) |
| 13 |
Lance Stroll
|
$ 3m | $ 1m | $ 4m | Aston Martin | 2 year (2025/26) |
| 14 |
Yuki Tsunoda
|
$ 2m | $ 500k | $ 2.5m | Racing Bulls | 1 year (2025/25) |
| 15 |
Andrea Kimi Antonelli
|
$ 2m | $ 2m | $ 4m | Mercedes | 1 year (2025/25) |
| 16 |
Gabriel Bortoleto
|
$ 1m | $ 1m | $ 2m | Sauber | 2 year (2025/26) |
| 17 |
Oliver Bearman
|
$ 1m | $ 1m | $ 2m | Haas | 3 year (2025/27) |
| 18 |
Liam Lawson
|
$ 1m | $ 900k | $ 1.9m | Racing Bulls | 1 year (2025/25) |
| 19 |
Isack Hadjar
|
$ 935k | $ 720k | $ 1.7m | Racing Bulls | 1 year (2025/25) |
| 20 |
Jack Doohan
|
$ 400k | $ 200k | $ 600k | Alpine | 1 year (2025/25) |
| 21 |
Franco Colapinto
|
$ 300k | N/A | $ 300k | Alpine | 5 year (2025/29) |
Formula 1 is the most popular and lucrative motorsport in the world. In 2025 F1 is projected to generate over $4 billion in revenue which will be 20% more then previous year. 2025 will be 5th consecutive year where Formula 1 has generated more revenue then the year before. Majority of the yearly revenue is generated via TV & Streaming rights deals, annual fees to host a Grand Prixs and sponsorship deals.
Majority of the yearly revenue is distributed among teams based on yearly constructor's championship ranking and legacy payments to teams like Ferrari and Mercedes etc. Teams then use that money to sign drivers on short/long-term contracts with fixed yearly salaries. Max Verstappen is currently the highest paid F1 driver with his contract with Red Bull earning him around $65 million a-year. Not all drivers are paid the same, some are on very low paying contracts and some are getting the biggest salaries in sports. We breakdown each driver's contract and how much every driver is earning now and their previous contracts.
Formula 1 Driver Salaries:
F1 teams and drivers keep their salaries, bonuses and other compensation very private. Drivers salaries details are never made public as Former f1 driver and now SkySports f1 pundit 'Martin Brundle' said that most of financial information available online about driver salaries is not accurate. That is because complex nature of F1 driver contracts. That include base salaries which are not as high as majority of information available online. But there are number of bonuses every driver have which can elevate their yearly earnings to whole different level.
For example, When Kimi Raikonnen joined Lotus his base salary was only $3 million a-year however there was also per point bonus of $50,000. What did Kimi do ? he raked up 207 points in 2012 F1 season finishing third in driver's championship. While he also finished with 183 points in next year so his two year bonus was around $19.5 million plus another $6 million in base salaries making it a sweet €25.5 million over two-year contract.