Have you ever wondered how much F1 drivers make? A run through the salaries for the entire 2022 Formula 1 grid.
Formula One drivers are reputed to earn huge amounts of money annually, but how much do they actually make? While exact figures are not made known to the public, most of the grid earns at least one million dollars per year, with nearly half the field making over ten million dollars each season. Here is a look at the top five salaries in F1, plus a rundown of the complete grid.
Highest-paid drivers – Top 5
5) Charles Leclerc (Ferrari) – $23M
4) Sergio Pérez (Red Bull) – $26M
Sergio “Checo” Perez earns a total of $26 million a year ($10 million salary + $16 million in bonuses), placing him fourth on the list. The Mexican driver proved himself in the Red Bull seat throughout the 2022 season, winning two Grands Prix, taking one pole position, and finishing on the podium 11 times. With a total of four race wins, one pole position, and 26 podium finishes, Perez becomes the most successful Mexican driver in history, passing the late Pedro Rodríguez.
3) Fernando Alonso (Alpine) – $30M
Two-time World Champion Fernando Alonso comes in third, earning $30 million a year. The 41-year-old will join Aston Martin on a multi-year deal starting in 2023, replacing the retiring Sebastian Vettel.
2) Lewis Hamilton (Mercedes) – $55M
Seven-time world champion Lewis Hamilton is the second highest-paid driver on the grid. The Mercedes driver is estimated to make $55 million a year, landing him on Forbes’ list of the highest-earning athletes for 2022. In July 2021, the Brit inked a two-year contract extension with Mercedes until the end of 2023.
1) Max Verstappen (Red Bull) – $60M
The reigning F1 Champion, Max Verstappen, is the highest-paid driver for 2022, earning $60 million a year at Red Bull ($40M salary, $20M bonuses.) After winning his first world title in 2021, the Dutchman was rewarded with an enormous new contract that took him past Hamilton on the list. Verstappen’s 2022 season was his most successful in Formula One thus far, with a record of 15 race wins, seven pole positions, 17 podiums, five fastest laps, and a record 454 championship points.
Highest-paid drivers – Top 10
| Driver | Team | Country | Total Earnings |
| Max Verstappen | Red Bull | Netherlands | $60M |
| Lewis Hamilton | Mercedes | United Kingdom | $55M |
| Fernando Alonso | Alpine | Spain | $30M |
| Sergio Perez | Red Bull | Mexico | $26M |
| Charles Leclerc | Ferrari | Monaco | $23M |
| Sebastian Vettel | Aston Martin | Germany | $17M |
| Daniel Ricciardo | McLaren | Australia | $17M |
| Carlos Sainz Jr. | Ferrari | Spain | $15M |
| Lando Norris | McLaren | United Kingdom | $11M |
| George Russell | Mercedes | United Kingdom | $10M |
Data collected from Forbes.
11th – 20th
| Driver | Team | Country | Salary |
| Valtteri Bottas | Alfa Romeo | Finland | $10M |
| Lance Stroll | Aston Martin | Canada | $10M |
| Kevin Magnussen | Haas | Denmark | $6M |
| Pierre Gasly | AlphaTauri | France | $5M |
| Esteban Ocon | Alpine | France | $5M |
| Alexander Albon | Williams | Thailand | $2M |
| Mick Schumacher | Haas | Germany | $1M |
| Zhou Guanyu | Alfa Romeo | China | $1M |
| Nicholas Latifi | Williams | Canada | $1M |
| Yuki Tsunoda | AlphaTauri | Japan | $750,000 |
Data collected from Spotrac.
Who is the highest-paid F1 driver of all time?
The F1 titan Michael Schumacher is not just the highest-paid F1 driver in history, but also one of the highest-paid sportsmen ever. He was named one of Forbes’ list of the highest-paid athletes of all time in 2017, placing fifth with a staggering $1 billion.
