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2024 F1 driver salaries

How much will the likes of Lewis Hamilton, Max Verstappen and Charles Leclerc earn in 2024? RacingNews365.com reveals the salaries of the coming F1 season's entire grid. See below the salaries of the Formula 1 drivers in 2024!

F1 drivers' salaries 2024

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

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.


Driver Team Salary +/- in $ million Contract duration
Max Verstappen Red Bull Racing 55 2028
Lewis Hamilton Mercedes 45 2025
Charles Leclerc Ferrari 34 2028
Lando Norris McLaren 20 2025
George Russell Mercedes 18 2025
Fernando Alonso Aston Martin 18 2024
Checo Perez Red Bull Racing 14 2024
Carlos Sainz Ferrari 12 2024
Valtteri Bottas Stake F1 Team 10 2024
Daniel Ricciardo Visa Cash App RB 7 2024
Esteban Ocon Alpine 6 2024
Pierre Gasly Alpine 6 2024
Oscar Piastri McLaren 6 2026
Kevin Magnussen Haas F1 5 2024
Alexander Albon Williams 3 2024
Lance Stroll Aston Martin 3 Open
Nico Hulkenberg Haas F1 2 2024
Guanyu Zhou Stake F1 Team 2 2024
Yuki Tsunoda Visa Cash App RB 1 2024
Logan Sargeant Williams 1 2024

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

Who is the highest paid driver?

Verstappen, a three-time world champion, earns tens of millions annually at Red Bull, but he's not the only high paid F1 driver. In 2024, Max Verstappen has claimed the title of the highest-paid Formula 1 driver, with Lewis Hamilton as his main rival on the earnings list.

How much does Max Verstappen pay for his license?

For the upcoming 2024 season, drivers will be required to pay a base fee of €10,400 (£9,017 GBP at current exchange rates) plus €2,100 (£1,820 GBP) per point scored in the previous season for their super licence. Among drivers, it is Verstappen who pays the most, surpassing his record from the previous season with a total of 575 points. This means the Dutchman holds the record for the most expensive super licence ever, with the triple World Champion required to pay a staggering €1.2 million, or just over £1 million GBP.

How much is Lewis Hamilton paid?

Based on discussions within the F1 paddock and among various teams, Lewis Hamilton is estimated to earn approximately $45 million annually from Mercedes under his contract until 2024.

What is Daniel Ricciardo salary?

Estimated based on various conversations within the F1 paddock and among various teams, Daniel Ricciardo will be paid approximately $7 million annually by RB with his contract until 2024.

How much is Charles Leclerc paid?

Estimated based on various conversations within the F1 paddock and among various teams, Charles Leclerc will be paid approximately $34 million annually by Ferrari with his contract until 2028.

How much is Lewis Hamilton paid by Ferrari

The seven-time world champion will transition to Ferrari in 2025, where he's anticipated to be paid approximately $100 million annually by Ferrari, bonuses included!

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RESULTS 2024 F1 Monaco Grand Prix - Free Practice 3