Many people would likely answer Lewis Hamilton. That response is not entirely incorrect, but surprisingly, Hamilton actually ranks second in terms of salary.
Not every Formula 1 driver earns a substantial salary. On the same grid, some drivers make nearly 100 times less than the sport’s biggest stars. Yet they compete in the same cars, race at speeds exceeding 300 km/h, and face the same risks every time they enter a corner.
So, who is currently the highest-paid driver in Formula 1? Let’s examine the salary rankings in detail.
Before reviewing the list, it is important to understand one key point: Formula 1 is not just a sport—it is a multi-billion-dollar business.
Teams do not pay drivers solely for speed. They also evaluate experience, car development feedback, sponsorship value, marketability, and, of course, the ability to compete for world championships.
That is why a world champion can earn tens of millions of dollars per season, while a rookie entering Formula 1 typically begins with a much lower salary.
The Rookie Group / Newcomers
Let’s begin with the newcomers, or rookies. While they currently occupy the lowest salary tier on the grid, that does not mean their long-term value is limited. In fact, several of these young drivers are widely expected to become major Formula 1 stars in the years ahead.
Arvid Lindblad
Estimated earnings: around $500,000–$1 million per year. For most people, that would already be life-changing, but in Formula 1, it places him in the lowest salary bracket.
Franco Colapinto
The young driver who has drawn significant attention from fans is estimated to earn around $500,000–$1 million per season.
Liam Lawson
After working hard to secure a permanent Formula 1 seat, Lawson is now estimated to earn around $1 million per year.
Oliver Bearman
Bearman is believed to earn around $1 million per season. However, many analysts expect his value to increase significantly if he continues to deliver consistent performances.
Gabriel Bortoleto
The Formula 2 champion who has moved into Formula 1 is estimated to earn around $2 million per year.
Andrea Kimi Antonelli
Mercedes’ highly regarded young talent, whom many consider a future world champion, is estimated to receive around $2 million per year.
Experienced Drivers Group / Big Names
Next are the drivers who have already established their reputations in Formula 1. They are no longer rookies—they have demonstrated their ability over many seasons of competition.
Valtteri Bottas
After joining Cadillac, Bottas is estimated to earn around $5 million per year.
Isack Hadjar
The young Racing Bulls driver is estimated to earn around $5 million per year.
Nico Hülkenberg
One of the most experienced drivers on the grid, Hülkenberg’s salary is estimated at around $7 million per year.
Esteban Ocon
The French driver is estimated to earn around $7 million per year.
Sergio Perez
Max Verstappen’s former teammate is estimated to earn around $8 million per year. Interestingly, this is still significantly lower than what Perez earned during his time at Red Bull.
The Multi-Million Dollar Group
From this point onward, we enter the category of drivers earning more than $10 million per year.
Lance Stroll
The Aston Martin driver is estimated to receive around $12 million per year.
Alex Albon
The Williams driver, who has become an important part of the team’s rebuilding effort, earns around $12 million per season.
Pierre Gasly
The Alpine driver is estimated to earn around $12 million per year.
Carlos Sainz
One of the most notable transfers in recent seasons, Sainz is estimated to receive around $13 million per year.
Oscar Piastri
One of the most talented young drivers on the current grid, Piastri is estimated to earn around $13 million per year, or approximately $1.08 million per month.
The Elite Group
Fernando Alonso
Even at over 40 years of age, Alonso remains one of the highest-paid drivers in Formula 1. The two-time world champion is estimated to earn around $20 million per year.
Top 5 Highest-Paid Drivers in Formula 1
5. Lando Norris
The McLaren star is estimated to earn around $30 million per year.
4. George Russell
Mercedes’ lead driver is estimated to receive around $34 million per year.
3. Charles Leclerc
The Ferrari star is estimated to earn around $34 million per year.
2. Lewis Hamilton
The seven-time world champion remains one of the most prominent figures in Formula 1. Hamilton is estimated to earn around $60 million per year.
That means Hamilton earns approximately:
- $5 million per month
- More than $164,000 per day
1. Max Verstappen
The highest-paid driver in Formula 1 today is Max Verstappen.
The three-time world champion is estimated to earn around $70 million per year.
That means Hamilton earns approximately the following:
- $5.83 million per month
- Around $191,000 per day
- More than $7,900 per hour
The Huge Salary Gap in Formula 1
That is the current overview of Formula 1 driver salaries.
The difference between a rookie earning around $500,000 per year and Max Verstappen earning more than $70 million per season is substantial.
However, that is the reality of Formula 1—a sport where fractions of a second can shape a driver’s future and where talent, experience, achievements, and championship success can elevate a contract value to tens of millions of dollars.
