What’s the difference between $750k and $40m?

19 January 2023

Why do F1 drivers earn so much?

There are three main reasons, their skill, the risk they take, and the global value brought to the F1 international circus.

Some drivers bring money; Lance Stroll, Lando Norris and Nicholas Latifi are examples.

As to skill, it is more than just their ability to drive; they must be able to tolerate the significant stress of extensive travel and the ability to communicate with their team, the press, and their sponsors.

The sport can be fatal; the drivers face injury or death every time they drive, in testing, practice and race days.

F1 generates substantial global economic value. Supporters follow individual drivers and teams; their cars, clothing and helmets adorn advertising and sponsorship in front of racegoers and tv viewers worldwide, and those figures are increasing significantly year on year.

That is why Yuki Tsunoda earns $750k pa and Lewis Hamilton $40m pa.

F1 Salaries

DriverCountryTeamSalary (USD)
Alexander AlbonThailandWilliams Mercedes$2,000,000
Carlos SainzSpainFerrari$10,000,000
Charles LeclercMonacoFerrari$12,000,000
Daniel RicciardoAustraliaMcLaren Mercedes$15,000,000
Esteban OconFranceAlpine Renault$5,000,000
Fernando AlonsoSpainAlpine Renault$20,000,000
George RussellGreat BritainMercedes$5,000,000
Kevin MagnussenDenmarkHaas Ferrari$6,000,000
Lance StrollCanadaAston Martin Aramco Mercedes$10,000,000
Lando NorrisGreat BritainMcLaren Mercedes$20,000,000
Lewis HamiltonGreat BritainMercedes$40,000,000
Max VerstappenNetherlandsRed Bull$25,000,000
Mick SchumacherGermanyHass Ferrari$1,000,000
Nicholas LatifiCanadaWilliams Mercedes$1,000,000
Pierre GaslyFranceAlphatauri$5,000,000
Sebastian VettelGermanyAston Martin$15,000,000
Sergio PerezMexicoRed Bull$8,000,000
Valtteri BottasFinlandAlfa Romeo Ferrari$10,000,000