It is common knowledge that Formula 1 drivers are paid very well. Most salaries are therefore in the millions, but what amount does every rider actually see appearing annually in his bank account?
With a salary ceiling in the offing, this is one of the last years that the salaries of Formula 1 drivers can still be so high. Once the new rules are passed, a team can still pay ‘only’ 25.5 million euros per year to the drivers. This means that the Formula 1 drivers can theoretically earn a maximum of 12.75 million euros per year. However, this only applies to contracts that are signed after entering the rule, so signed agreements that are already on the shelf will remain that way. The salary ceiling must take effect from 2022.
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Of course it is interesting to know how much the drivers currently earn and to what extent they are losing. Business Book GP that is why it has been keeping track of the money flows in Formula 1 for years and is compiling an overview at the end of each season. This is the basic earnings of the drivers, so most will earn more than this. Sponsor money and bonuses are added to that.
It should come as no surprise that Lewis Hamilton earns the most by far. Sebastian Vettel is in second place with his income Ferrari in Daniel Ricciardo completes the top three. Max Verstappen fills the fourth row in the overview. All basic incomes of the current Formula 1 drivers can be found in the overview below:
1. Lewis Hamilton (Mercedes) – € 47 million
2. Sebastian Vettel (Ferrari) – € 35 million
3. Daniel Ricciardo (Renault) – € 20 million
4. Max Verstappen (Red Bull Racing) – € 16 million
5. Valtteri Bottas (Mercedes) – € 9 million
6. Charles Leclerc (Ferrari) – € 9 million
7. Kimi Raikkonen (Alfa Romeo) – € 6 million
8. Carlos Sainz (McLaren) – € 4.5 million
9. Sergio Perez (Racing Point) – € 4 million
10. Esteban Ocon (Renault) – € 4 million
11. Romain Grosjean (Haas) – € 2 million
12. Kevin Magnussen (Haas) – € 2 million
13. Alexander Albon (Red Bull Racing) – € 2 million
14. Lando Norris (McLaren) – € 1.5 million
15. Lance Stroll (Racing Point) – € 1.5 million
16. Pierre Gasly (AlphaTauri) – € 1 million
17. Daniil Kvyat (AlphaTauri) – €750.000
18. George Russell (Williams) – €750.000
19. Nicholas Latifi (Williams) – €750.000
20. Antonio Giovinazzi (Alfa Romeo) – €500.000
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