F1 Driver Salaries: What the stars earn as Hamilton makes Ferrari debut

F1 is now in the budget cap era, which means money to develop cars is tighter, but that won't impact driver salaries in 2025, just as it hasn't for the last few seasons.

The contracts that teams offer their drivers are an exemption from the cap, meaning those at the front of the grid will remain some of the highest-paid sports stars around.

Lewis Hamilton has made a stunning move to Ferrari for 2025, but just how much will he and his rivals earn in the 2025 season? Let's take a look.

READ MORE: F1 Explained: A beginner's guide to all the key terms and definitions

How much do F1 drivers earn?

Salaries for F1 drivers are notoriously difficult to pin down; there can be a range of external elements such as contract upgrades, bonuses, and sponsorships, which makes it hard to identify just how much each driver earns.

In 2022, Max Verstappen penned one of the most lucrative deals for a driver in F1 history and was financially rubbing shoulders with rival Lewis Hamilton. In 2023 and 2024, Verstappen earned even more than Hamilton due to performance-based bonuses, but the two biggest stars still remained the sport's highest earners.

Hamilton's latest Ferrari contract will bring him closer to his arch rival, and you'd imagine that if he manages to claim an unprecedented eighth world title with the team, then his bonuses will be through the roof.

READ MORE: Lewis Hamilton net worth: What F1 megastar earns from salary, sponsorship and endorsements

Verstappen's 2024 championship challenger Lando Norris is on a lucrative deal with McLaren, although his age and (until last year) lack of race-winning pedigree means he is a way behind Verstappen and Hamilton.

Norris' team-mate Oscar Piastri recently signed a new contract with McLaren ahead of the 2025 season, and has reportedly been given a mammoth payrise.

Here are the base salaries of F1 drivers, as reported by NBC and other sources, excluding any performance-based bonuses.

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.

READ MORE: F1 drivers age: How old are Lewis Hamilton, Verstappen, Norris and co

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