
F1 Driver Salaries: Verstappen and Lewis Hamilton lead the way
F1 Driver Salaries: Verstappen and Lewis Hamilton lead the way

F1 is now in the budget cap era, which means money to develop cars is tighter, but that doesn’t impact driver salaries in 2022.
The contracts teams give their drivers is exempt from the cap, meaning those at the front of the grid will remain some of the highest-paid sports stars around.
But just how much does each driver earn in 2022? Let’s take a look.
Salary for every F1 driver in 2022
Earlier in 2022 Max Verstappen penned one of the most lucrative deals for a driver in F1 history and he is now financially rubbing shoulders with rival Lewis Hamilton.
The reigning F1 champion signed a five-year extension to an already existing agreement, which now sees him tied to Red Bull through to the end of 2028.
Verstappen’s contract is reportedly worth £33m per year, meaning the 24-year-old will earn a total of £231m over the next seven years.
The figure is believed to have pushed Verstappen narrowly ahead of Hamilton, whose most recent F1 contract with Mercedes - signed in early July last year - is understood to be worth £31m per year.
Other reports have F1's leading duo now on a par with one another at £31m apiece.
What is clear, however, is Verstappen and Hamilton are comfortably the two highest-paid drivers in F1, dwarfing the £16m figure collected by Alpine's Fernando Alonso. Reports by the way suggest the Spaniard will earn $15million annually when he replaces Sebastian Vettel at Aston Martin in 2023.
Lando Norris also recently signed a new long-term contract with McLaren, pushing the Briton close to parity with team-mate Daniel Ricciardo.
Driver | Team | Salary |
---|---|---|
Max Verstappen | Red Bull | £33m [$43m] |
Lewis Hamilton | Mercedes | £31m [$40m] |
Fernando Alonso | Alpine | £16m[$18m] |
Charles Leclerc | Ferrari | £13m [$16.5m) |
Sebastian Vettel | Aston Martin | £13m [$16.5m] |
Daniel Ricciardo | McLaren | £12.5m [$15m] |
Lando Norris | McLaren | £10m [$12m] |
Carlos Sainz | Ferrari | £7m [$8.5m] |
Lance Stroll | Aston Martin | £7m [$8.5m] |
Sergio Perez | Red Bull | £6.7m [$8m] |
Valtteri Bottas | Alfa Romeo | £5.8m [$7m] |
Kevin Magnussen | Haas | £5m [$6m] |
George Russell | Mercedes | £4m [$5m] |
Pierre Gasly | Alpha Tauri | £4m [$5m] |
Esteban Ocon | Alpine | £3m [$4.2m] |
Alex Albon | Williams | £625k [$750k] |
Mick Schumacher | Haas | £580k [$700k) |
Nicholas Latifi | Williams | £425k [$550k] |
Guanyu Zhou | Alfa Romeo | £425k [$550k] |
Yuki Tsunoda | Alpha Tauri | £400k [$500k] |
Does the F1 budget cap affect driver salaries?
As mentioned, driver salaries are kept separate from the budget cap.
Indeed the salaries of the three highest-paid employees are exempt, which in virtually all cases will include the team principals as well.
Other items which are kept exempt include marketing costs and utility bills incurred by the teams.
Related news

Lewis Hamilton congratulates LeBron James for breaking NBA scoring record

The 'reason' Max Verstappen was so in shape at Red Bull launch

Lewis Hamilton reveals his most bizarre fan gifts

Verstappen picks out grid's top drivers and declares main threat
Most read

F1 LIVE - Party fever: McLaren names 2023 car

Ricciardo responds to Red Bull Bathurst snub

'Taking car leak to a whole new level' - Social media goes WILD after Alfa Romeo launch fail

F1 calendar meltdown warning as Montoya lays in on Ferrari - GPFans F1 Recap

Embarrassing launch gaffe as Alfa Romeo leak their own car
F1 Standings

Races
-
Gulf Air Grand Prix of Bahrain 2023
-
Saudi Arabian Grand Prix 2023
-
Grand Prix of Australia 2023
-
Grand Prix of China 2023
-
Grand Prix of Azerbaijan 2023
-
Miami Grand Prix 2023
-
Pirelli Gran Premio Del Made In Italy E Dell'emilia Romagna 2023
-
Grand Prix of Monaco 2023
-
Grand Prix of Spain 2023
-
Grand Prix of Canada 2023
-
Grand Prix of Austria 2023
-
Grand Prix of Great Britain 2023
-
Grand Prix of Hungary 2023
-
Grand Prix of Belgium 2023
-
Heineken Dutch Grand Prix 2023
-
Grand Prix of Italy 2023
-
Grand Prix of Singapore 2023
-
Grand Prix of Japan 2023
-
Qatar Grand Prix 2023
-
Grand Prix of the United States 2023
-
Gran Premio de la Ciudad de Mexico 2023
-
Grand Prix of Brazil 2023
-
Las Vegas Grand Prix 2023
-
Grand Prix of Abu Dhabi 2023
About GPFans
GPFans is a multi-platform, multi-language brand dedicated to Formula One coverage. We bring you all the ins and outs of the sport, 24/7, everything from up-to-the-minute news and features to the latest viral stories and clips.We believe that a new generation of exciting, outspoken drivers will make F1 more popular than ever before, and we want to give our users access to as much of their heroes as possible, on and off the track. From Lewis Hamilton to Max Verstappen, Daniel Ricciardo to Sebastian Vettel, we provide in-depth analysis of every every Grand Prix in the season, from Australia to Abu Dhabi.
With Formula One under the new ownership of Liberty Media, how the sport is being covered is evolving, and GPFans will look to be at the heart of this progression into new media, as one of the fastest-growing sites covering the king of motorsports.
Follow us on your favorite social media channel
Corporate & Media

7007 CD, Doetinchem, Netherlands
+31645516860