2024 F1 driver salaries - How much do F1 drivers make

How much do F1 drivers make?

How much does Max Verstappen earn in Formula 1 and what is Lewis Hamilton's salary? 

Approximately, F1 drivers make an estimated $13.4 million per year excluding bonuses and sponsors. Max Verstappen makes the most with $55 million per year, while Logan Sargeant and Yuki Tsunoda make the least with $1 million per year.

Max Verstappen salary

Three-time world champion Verstappen earns tens of millions a year at Red Bull but is not the only F1 driver who is doing well.

Max Verstappen has now become the best-paid Formula 1 driver of 2024, with his main rival on that list is Lewis Hamilton.

Lewis Hamilton salary

The Mercedes driver signed a new contract with the team for which he will also compete his final season for this year - the seven-time world champion will then switch to Ferrari, where he will probably earn around $100 million per year, including bonuses! Of course, Charles Leclerc will also receive a nice annual sum with his new contract...

RacingNews365 spoke to various sources within the F1 paddock to obtain an overview of the estimated salaries of all F1 drivers. This concerns the annual income, without bonuses, that they receive from their team. This does not include contracts with personal sponsors or performance bonuses from the teams.

Note: All figures of what F1 drivers make are estimates based on conversations with various sources within the F1 paddock and at various teams.

How much do F1 drivers make per win

F1 drivers don't make a certain amount of money per race. However, in most F1 contract agreements, teams and drivers include bonuses if F1 drivers win a race. So indirectly, an F1 driver can earn money by winning a race.

How much do F1 drivers make per race

Besides, it is possible to calculate how much F1 drivers make per race if we divide their salaries by 24. For example, Verstappen would make $2.29 million per race, and Hamilton would make $1.88 million per race.