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FORMULA 1

How much do F1 drivers make? The salaries of the Formula 1 World Championship 2023

In the high-octane world of F1 everything is about results, which is to say if you win you make more money. The question is how much will drivers make in 2023?

Update:
In the high-octane world of F1 everything is about results, which is to say if you win you make more money. The question is how much will drivers make in 2023?
Clive MasonGetty

With it’s constant need for intercontinental trips, multi-million dollar cars, swanky events and celebrity fans, you can bet your bottom dollar that Formula 1 is a sport that is loaded with cash. Yet, how much of that money makes its way into the hands of the drivers themselves? Join us for a look at the salaries of the drivers for the 2023 season.

The 2023 Formula 1 season salaries from top to bottom

Given that Red Bull’s Max Verstappen is currently ranked as No. 1, it makes sense that he sits atop the list as the highest paid driver on the grid today. Indeed, the Dutchman is set to pocket a cool $55 million in 2023 as he goes on the hunt for his third straight drivers’ championship. Though you probably guessed it, Lewis Hamilton with his seven world championships sits in second place with a projected income of $35 million for 2023.

With regards to the drivers on the other side of the spectrum, they are understandably rookies. For perspective, AlphaTauri’s Yuki Tsunoda and American rookie, Logan Sargeant, are at the bottom of the salary list with an expected approximate income of $1 million for the 2023 season. Interestingly, though Tsunoda is in his third F1 season, he’s still on a rookie contract which is essentially the same deal that Sargeant will make his debut with. Truth be told, the American is an interesting prospect if you get to know him. With that, we’re going to get into the full list of salaries below according to RacingNews365, however, it’s important to note that these are estimates and don’t include performance bonuses or sponsorship deals.

*Full list of F1 2023 driver salaries with all figures quoted in USD.*

DriverTeamSalaryAge
Max VerstappenRed Bull$55 million25
Lewis HamiltonMercedes$35 million38
Charles LeclercFerrari$24 million25
Lando NorrisMcLaren$20 million23
Carlos SainzFerrari$12 million28
Sergio PerezRed Bull$10 million33
Valtteri BottasAlfa Romeo$10 million33
George RussellMercedes$8 million25
Esteban OconAlpine$6 million26
Pierre GaslyAlpine$5 million27
Fernando AlonsoAston Martin$5 million41
Kevin MagnussenHaas$5 million30
Alex AlbonWilliams$3 million26
Oscar PiastriMcLaren$2 million21
Lance StrollAston Martin$2 million24
Guanyu ZhouAlfa Romeo$2 million23
Nyck de VriesAlpha Tauri$2 million28
Nico HülkenburgAlpha Tauri$1 million35
Yuki TsunodaAlpha Tauri$1 million22
Logan SargeantWilliams$1 million22

F1 Driver Salaries: The lay of the land

As stated before, Verstappen has the opportunity to clinch his third straight championship this year and if he can do so for Red Bull, that $55 million salary will be money well spent. His partner Sergio Perez will make significantly less, but following his career best third-place finish in 2022, we’re guessing that won’t be the case for much longer as he continues to build. Ferrari’s Charles Leclerc was runner up last year and with that his salary reflects that he’s among the big boys, while teammate Carlos Sainz continues to improve. Then of course, we’ve got Mercedes’ superstar driver Lewis Hamilton. Some may wonder why his salary is so high given a 6th place finish in 2022 without a single win, but to be frank, it’s Lewis Hamilton i.e., it would be a mistake to assume there isn’t any gas left in his tank. Hamilton’s teammate George Russell, is on a much smaller salary by comparison, but with the young Brit largely expected to be a future world champion, that’s not likely to stay that way for much longer.

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