How much do current Formula 1 drivers earn?
- Henry Valantine
- 6 July 2022
Formula 1 drivers' huge salaries can make them some of the highest-paid athletes in the world, if they are successful enough.
Teams and drivers themselves have spoken out against calls for driver salaries to be included in the sport's budget cap, and given what some of them are supposedly earning, it's easy to see why.
Compiled through a combination of sources, here's a full rundown of what each driver reportedly earns in a year.
Reported F1 driver annual salaries
Alfa Romeo
Valtteri Bottas: $10m [£8.4m]
Bottas moved to Alfa Romeo to lead the team on the first multi-year contract of his career, and he is revelling in having the chance to do so.
His status and pedigree as a 10-time race winner has brought a reported financial benefit for him, too.
Contracted until: 2024
Zhou Guanyu: $1m [£840,000]
Zhou is the only rookie on the 2022 grid, so reportedly starts off his career on the lower end of the pay scale, though the former Alpine junior is thought to be bringing strong financial backing with him to Alfa.
Contracted until: 2022
AlphaTauri
Pierre Gasly: $5m [£4.2m]
P1!! My first victory in F1!!🏆
— PIERRE GASLY 🇫🇷 (@PierreGASLY) September 6, 2020
I’m lost for words, still struggling to realise, its just amazing!!
Everything was perfect, just missed the tifosis down under the podium. @alphatauri we have done it!! Thanks everyone for all the messages & support!! Today is a day I’ll remember. pic.twitter.com/3eILYSMsIu
Gasly's future has been up for debate after the resurgence of his reputation after being dropped by Red Bull.
A race winner in Formula 1, his pay with AlphaTauri reportedly reflects that worth to the team, who confirmed his future with them would run until the end of 2023.
Contracted until: 2023
Yuki Tsunoda: $750,000 [£625,000]
With the lowest reported pay on the current grid, Tsunoda admitted himself that he was "surprised" to keep his seat in Formula 1 after a tough time in 2021.
He's improved in 2022 however, and will look to give himself the best chance possible of staying in the sport beyond the end of the year.
Contracted until: 2022
Alpine
Fernando Alonso: $20m [£16.8m]
Two-time World Champions and 32-time race winners don't come cheap, and Fernando Alonso fits squarely into that bracket.
Alonso has long been one of the sport's highest earners, and that has not changed since his two-year sabbatical, but his current deal expires at the end of the year.
Contracted until: 2022
Esteban Ocon: $5m [£4.2m]
Ocon's impressive performances at the start of 2021 earned him the security of a three-year contract extension at Alpine, and rewarded them with his first race victory in Hungary, with excellent defensive driving from Alonso helping his cause.
Contracted until: 2024
Aston Martin
Sebastian Vettel: $15m [£12.5m]
The four-time World Champion's impending abrupt departure from Ferrari had left him without a seat for 2021, and he reportedly took a significant pay cut to join Aston Martin - though he's still on a handsome salary befitting of one of the sport's greats, nonetheless.
He joined on a 'one-plus-one' deal with Aston last year, and his future is still uncertain beyond the end of the year.
Contracted until: 2022
Lance Stroll: $10m [£8.4m]
Stroll's father Lawrence owns Aston Martin, so it's relatively safe to assume that the Canadian's seat will most likely be secured beyond the end of the season, but his performances have stood up reasonably well compared to his team-mate.
Contracted until: 2022
Ferrari
Charles Leclerc: $12m [£10.1m]
Vettel's departure from Ferrari came around in part due to Leclerc's performances against him, and the Scuderia's colours were nailed to Leclerc's mast with a bumper five-year deal being signed, which takes him to the end of 2024.
The former Ferrari junior is still seen widely as the 'golden boy' at the team, but he's being pushed hard from the other side of the garage…
Contracted until: 2024
Carlos Sainz: $10m [£8.4m]
Sainz moved to Ferrari from McLaren at the end of 2020 and has shown himself to be more than a match for Leclerc - out-scoring him in their first season together in 2021.
His reward was a new, improved contract that sees his stay with the team extended until 2024, on a reported salary which almost matches his team-mate.
Contracted until: 2024
Haas
Kevin Magnussen: $6m [£5m]
K-Mag was parachuted back into Formula 1 at short notice after Nikita Mazepin was fired at Haas, and the Dane returned to his former seat almost seamlessly.
A driver of his experience will likely have taken a higher chunk out of the coffers at Haas, but he's shown his worth since his return.
Contracted until: 2023* (*signed on 'multi-year deal' in 2022, exact duration not specified)
Mick Schumacher: $1m [£840,000]
Young Mick's journey to Formula 1 points finally ended at Silverstone after 32 attempts, and is looking to make sure his F1 journey continues into next season and beyond.
He's still listed as a Ferrari junior but, with Sainz and Leclerc locked into their deals, staying at Haas is his most likely next step, if he keeps his seat.
Contracted until: 2022 (*affiliated with Ferrari as a junior driver)
McLaren
Lando Norris: $20m [£16.8m]
Norris signed a new contract with McLaren in 2021, but his superlative performances alongside Daniel Ricciardo earned him further fresh terms at the start of 2022, which reportedly catapulted him into being one of the sport's highest earners.
There is reportedly no get-out clause in the deal from either the driver or team's side, so Norris is with McLaren for the long haul.
Contracted until: 2025
Daniel Ricciardo: $15m [£12.5m]
Ricciardo's reputation has taken something of a hit since his big money move to McLaren for 2021, with Norris having largely outshone him in their time together to date.
The Australian turned down what Christian Horner said was a "stratospheric" pay rise to stay with Red Bull in 2018, but the eight-time race winner is still significantly renumerated at McLaren.
Contracted until: 2022* (*plus one-year option for 2023)
Mercedes
Lewis Hamilton: $40m [£33.5m]
Hamilton's place as the sport's most successful driver has unsurprisingly brought a significant pay packet with it.
His work off track shows him make use of what he has earned however, registering fifth on the Sunday Times' Giving List in 2022, having reportedly donated £20m to good causes in the year leading up to it.
Contracted until: 2023
George Russell: $5m [£4.2m]
Russell's reported salary pales in comparison to his illustrious team-mate. Understandable, given the success Hamilton has had through his career to date.
Should Russell live up to his potential alongside the most statistically successful driver in the sport's history, his next deal could come with a chunky pay rise.
Contracted until: 2023* [*Contract was announced "from the 2022 season", exact duration not specified]
Red Bull
Max Verstappen: $40m [£33.5m]
The reigning World Champion said he wanted to 'do this for 10 or 15 years' with Red Bull after winning his title last year, and he soon signed a mega, unprecedented seven-year deal which is thought to put him on par with Hamilton as the sport's highest earner.
As he would say: Simply lovely.
Contracted until: 2028
Sergio Perez: $10m [£8.4m]
Perez joked after winning the Monaco Grand Prix that he should have signed his new deal after the weekend, having penned a two-year extension to his Red Bull contract on what is thought to be improved terms.
His salary is still dwarfed in comparison to that of Verstappen, but the Mexican brings significant sponsorship income with him to Red Bull, which means his salary could well pay for itself.
Contracted until: 2024
Williams
Alex Albon: $2m [£1.7m]
Albon's demotion from Red Bull left him without a drive in 2021, and Red Bull released him from his deal to move to Williams, albeit with an option for him to return for 2023 if required, though that door has now shut with Sergio Perez renewing his Red Bull deal.
Contracted until: 2022
Nicholas Latifi: $1m [£840,000]
Latifi's father, Michael, owns Sofina Foods - a logo featured prominently on Williams' car - and Nicholas' involvement with the team brings with it significant funding from his father.
He admits himself his performances have not been up to scratch, though, so this year could be his last in Formula 1.
Contracted until: 2022
[All USD to GBP estimates are with the correct exchange rate and drivers' contractual status correct as of July 2022]
