The drivers on the current Formula 1 grid can make up to $70 million a year to drive a car. F1's paddock has become one of the most lucrative arenas in professional sport. In 2026, the gap between the highest and lowest earners tells a story that goes far beyond lap times. So, how does F1 driver pay work?:
Formula 1 Driver Salaries Explained
What Is Included In An F1 Driver's Pay?
Crucially, driver salaries and bonuses fall outside F1's $215 million cost cap for 2026, as do the pay of each team's three highest-paid staff members. This means teams can spend freely to secure a driver without affecting car development budgets (it's a rule confirmed directly by the FIA's Financial Regulations ⁴). An F1 driver's total income is typically built from several layers:
Why F1 Salaries Are So Different From Driver To Driver
The gap between a rookie's contract and a champion's contract in F1 can be enormous, and it comes down to five main factors:
Experience and reputation: seven-time champion Lewis Hamilton and four-time champion Max Verstappen command premiums that reflect two decades (and one decade, respectively) of proven results.
Championship wins: titles are the single biggest lever in contract negotiations. We can take Lando Norris's 2025 title win as an example, as it overnight reshaped his market value.
Team budget and competitiveness: front-running teams like Ferrari, Red Bull, and McLaren can outspend midfield teams on driver pay.
Marketability and global fan appeal: drivers with large social media followings and crossover appeal (fashion, film, business ventures) attract sponsors independent of results.
Contract length and negotiation leverage: a driver out of contract with multiple suitors; sometimes speculation lets them negotiate substantially improved terms.
Formula 1 Driver Salaries Table For 2026
Full Grid Salary Rankings
These are the reported base salaries for the 2026 season, as compiled by RacingNews365 5. According to this site, all figures reflect base salary only, and do not account for bonuses, sponsorships, or endorsements.
| Rank | Driver | Team | Reported Base Salary (2026) | Est. Bonuses | Contract End (reported) | Notes |
|---|---|---|---|---|---|---|
| 1 | Max Verstappen | Red Bull | $70,000,000 | Up to ~$11,000,000 | 2028 | Reported exit-clause window in 2026; Red Bull reportedly negotiating extension terms |
| 2 | Lewis Hamilton | Ferrari | $60,000,000 | Reported minimal in 2025 (no podiums) | 2026, with 2027 option | Contract includes a Mission 44 charitable-foundation clause |
| 3 | Charles Leclerc | Ferrari | $34,000,000 | Not publicly itemized | 2029 | Contract extended in 2024; team-leader status at Ferrari |
| 3 | George Russell | Mercedes | $34,000,000 | Not publicly itemized | At least 2027 | Signed after prolonged 2025 contract speculation |
| 5 | Lando Norris | McLaren | $30,000,000 | ~$10,000,000 title bonus (2025) | At least 2027 | 2025 World Champion; McLaren's first title since Hamilton in 2008 |
| 6 | Fernando Alonso | Aston Martin | $20,000,000 | Not publicly itemized | At least end of 2026 | Oldest driver on the grid |
| 7 | Carlos Sainz | Williams | $13,000,000 | Not publicly itemized | At least 2026 | Signed for 2025 after leaving Ferrari |
| 7 | Oscar Piastri | McLaren | $13,000,000 | Not publicly itemized | At least 2028 | Multi-year extension confirmed in 2025 |
| 9 | Alex Albon | Williams | $12,000,000 | Not publicly itemized | At least 2026 | |
| 9 | Pierre Gasly | Alpine | $12,000,000 | Not publicly disclosed | Not publicly disclosed | |
| 9 | Lance Stroll | Aston Martin | $12,000,000 | Not publicly disclosed | Not publicly disclosed | Contract terms largely private |
| 12 | Sergio Perez | Cadillac | $8,000,000 | Not publicly disclosed | Not publicly disclosed | Joined new US entrant for 2026 |
| 13 | Esteban Ocon | Haas | $7,000,000 | Not publicly disclosed | Not publicly disclosed | |
| 13 | Nico Hulkenberg | Audi | $7,000,000 | Not publicly disclosed | Not publicly disclosed | |
| 15 | Isack Hadjar | Red Bull | $5,000,000 | Scales with points/podiums | Not publicly disclosed | Junior-programme development structure |
| 15 | Valtteri Bottas | Cadillac | $5,000,000 | Not publicly disclosed | Not publicly disclosed | |
| 17 | Gabriel Bortoleto | Audi | $2,000,000 | Not publicly disclosed | Not publicly disclosed | |
| 17 | Kimi Antonelli | Mercedes | $2,000,000 | Not publicly disclosed | 2026 | Salary reported to rise to ~£9.4m ($12.5m) with bonuses |
| 19 | Oliver Bearman | Haas | $1,000,000 | Not publicly disclosed | Not publicly disclosed | Impressive rookie season in 2025 |
| 19 | Liam Lawson | Racing Bulls | $1,000,000 | Not publicly disclosed | 2026 | Recovered form after 2025 Red Bull demotion |
| 21 | Franco Colapinto | Alpine | $500,000-$1,000,000 | Not publicly disclosed | Not publicly disclosed | |
| 21 | Arvid Lindblad | Racing Bulls | $500,000-$1,000,000 | Not publicly disclosed | 2026 | Youngest driver on the 2026 grid |
All figures presented in this previous table are reported estimates, not official team disclosures, as contracts are confidential in Formula 1. The actual bonuses, sponsorship income, or the full value of multi-year deals remain undisclosed.
Lewis Hamilton is generally cited as the richest driver currently competing. His net worth is estimated at $450-500 million.
Highest-Paid vs Lowest-Paid Drivers
Max Verstappen leads the 2026 grid at a reported $70 million base salary (before bonuses), while the Argentinian Franco Colapinto and British Arvid Lindblad sit at the bottom, on an estimated $500,000 to $1 million.
How Much Do Formula 1 Drivers Make On Average?
Typical Salary Ranges By Driver Tier
- 🏆 Elite champions ($55M+): Verstappen, Hamilton, Norris, who are multiple-time race winners or reigning champions with global commercial appeal.
- 🟢 Established race winners ($20M–$34M): Leclerc, Russell, Alonso: Leclerc, Russell, Alonso, who are consistent front-runners and podium regulars.
- 🟡 Mid-grid drivers ($5M–$13M): Sainz, Piastri, Albon, Gasly, Stroll, Pérez, Ocon, Hülkenberg, Hadjar, Bottas, who comprise a mix of experienced hands and drivers still building their case for a bigger deal.
- 🔵 Rookies and developing drivers (under $5M): Bortoleto, Antonelli, Bearman, Lawson, Colapinto, Lindblad; early-career drivers on development-weighted contracts.
Michael Schumacher remains the wealthiest driver in Formula 1 history. Estimates of his fortune range from roughly $600 million to $790 million.
Average F1 Salary vs Median F1 Salary
Top F1 drivers can earn 10x–20x more than rookies. In 2026, the average F1 driver salary is estimated at roughly $14.7 million per driver, but the median (the middle value when all salaries are ranked) is closer to $8 million.
Verstappen's $70 million and Hamilton's $60 million alone account for more than a third of the grid's combined reported pay. The average gives a more realistic picture of what a "standard" F1 driver earns in base salary once the two or three superstar contracts are set aside.
Max Verstappen Salary
Max Verstappen's Reported Annual Salary
Max Verstappen has won four consecutive Drivers' Championships, with 61 of 114 races over the past five seasons, including a series-best eight wins in 2025. On top of his reported $70 million base salary, the pilot's total on-track earnings (base plus performance bonuses) were estimated by Forbes at around $76 million for the 2025 season, split roughly $65 million in salary and $11 million in bonuses; this places him among the highest-paid athletes in any sport, not just motorsport.
*Across the last five seasons before 2026
Max Verstappen Contract Details
Max Verstappen is signed with Red Bull Racing through the end of the 2028 season. Multiple outlets have reported that his deal includes a performance-related exit clause (with Red Bull offering improved terms to remove it); this has fueled speculation about interest from Mercedes; however, no move has been confirmed.
Lewis Hamilton Salary
Lewis Hamilton's Reported Annual Salary
Hamilton is the second-highest earner on the 2026 F1 grid, with a reported base salary of $60 million at Ferrari; some reports put his total package at $70–100 million when combined with sponsorship-adjacent income (these figures should be read as approximate).
What's well established is that Hamilton holds F1's records for race wins and podium finishes- tallies that have continued to grow during the 2026 season- underscoring his commercial value even after a difficult start at Ferrari.
Lewis Hamilton Contract Details
Hamilton's Ferrari deal was announced in February 2024 and began with the 2025 season. Reporting on the exact term has varied, but most consistently cite an option for a third year in 2027.
Lando Norris, the reigning 2025 F1 World Champion, offers a useful contrast to Verstappen and Hamilton. His reported 2026 base salary of $30 million is well below his seniors. Still, his total 2025 season earnings (including an estimated $10 million championship bonus and additional performance-related pay) reached around $57.5 million, making him the third-highest on the grid that year.²
Hamilton vs Verstappen: Who Earns More And Why?
Verstappen earns more than Hamilton on paper, with a reported $70 million base salary for 2026 against Hamilton's $60 million. The Dutchman's recent championship dominance directly translates into results-based leverage. Hamilton's pay instead reflects legacy value: his career record, global brand recognition, and Ferrari's own commercial ambitions justify a premium salary even in the absence of a title.
How F1 Contracts Work
Base Salary vs Performance Bonus
Every F1 driver contract starts with a fixed base salary, a guaranteed amount paid regardless of results. On top of that sits a bonus structure tied to wins, podiums, points finishes, and championship results. For contenders like Norris, Verstappen, or Piastri, these bonuses can add tens of millions of dollars to total season earnings; for midfield or development drivers, bonuses tend to be smaller but can still meaningfully boost a modest base salary.
F1 Contract Clauses That Affect Earnings
🔻 Performance thresholds: minimum championship-position requirements that must be met to trigger certain bonuses or retain full pay
🚫 Termination and exit clauses: conditions under which either party can end the contract early
🔟 Option years: extensions that can be triggered by the team, the driver, or both.
🤑 Sponsor-related obligations: requirements to appear at sponsor events, wear specific branding, or support commercial partners.
Why Contract Length Matters
Longer contracts provide drivers with financial and career stability, while shorter deals preserve flexibility (for both sides) to renegotiate based on form.
F1 Teams often use contract length to lock in a rising star early (as McLaren did with Piastri and Norris); it tends to be cheaper than negotiating after a title win. At the same time, one-year deals for rookies (as Racing Bulls' approach with Lawson and Lindblad) allow a team to evaluate performance before committing further. An F1 contract cycle tends to look like this:
1. Signing
2. Season Start
3. Mid-Season Performance Review
4. Mid-Season Performance Review
Formula 1 Salaries vs Formula E Salary
Average Formula 1 Salary Compared With Formula E
The pay gap between Formula 1 and Formula E is enormous; even a modestly paid F1 driver on the current grid can out-earn Formula E's best-paid stars several times over. The gap largely comes down to audience size and sponsorship scale; F1 is a far larger commercial property, and its driver pay reflects that.
The average F1 driver salary comes to roughly $15.9 million. By comparison, the average Formula E driver salary is reported at approximately €750,000 (roughly $800,000), with top earners in that series reaching between €2.2 million and €2.8 million.⁶ ⁷
Why Some Drivers Move Between Formula 1 And Formula E
Despite the pay gap, several drivers with F1 experience have moved to Formula E, largely because of seat availability, career longevity, and the opportunity to remain a full-time professional racing driver once an F1 seat is no longer realistic. Formula E has also become attractive to manufacturers and drivers alike as electric racing technology and sponsorship have grown, even if salaries remain a fraction of F1's top tier.
| Metric | Formula 1 (2026) | Formula E |
|---|---|---|
| Average driver salary | $15.9 million (calculated from 22 reported 2026 base salaries) | $800,000 |
| Top-earner salary | $70 million (Max Verstappen) | $2.4-3M |
| Lowest reported salary | $500,000-$1 million | As low as $150,000 for newer drivers |
| Grid size | 22 full-time drivers, 11 teams | Varies by season; smaller field than F1 |
What Determines Formula 1 Driver Salaries?
References
- Who highest paid F1 driver 2022: Top 10 earners revealed – Sportskeeda (2022). Available at: https://www.sportskeeda.com/f1/who-highest-paid-f1-driver-2022-top-10-earners-sport-revealed (Accessed: August 2026)
- Forbes Highest-Paid Formula 1 Drivers 2025 List – MEXC News, citing Forbes (2025, December). Available at: https://www.mexc.com/news/245553 (Accessed: August 2026)
- Lewis Hamilton Net Worth and Salary: Ferrari Contract, Sponsors, and Business Empire – F1 Chronicle (2026, May). Available at: https://f1chronicle.com/lewis-hamilton-net-worth-salary/ (Accessed: August 2026)
- F1 Cost Cap 2026: Budget Rules and Financial Regulations – F1 Chronicle (2026, March). Available at: https://f1chronicle.com/f1-cost-cap-2026-budget-rules-and-financial-regulations/ (Accessed: August 2026)
- How much are F1 drivers paid? Here are the reported driver salaries for 2026 – NBC 6 South Florida, citing RacingNews365 (2026, March). Available at: https://www.nbcmiami.com/news/sports/f1-driver-salaries-how-much-paid-2026-season/3776844/ (Accessed: August 2026)
- Are Formula E driver salaries out of control? – The Race (2023, September). Available at: https://www.the-race.com/formula-e/are-formula-e-driver-salaries-out-of-control/ (Accessed: August 2026)
- Top earners in single-seater motorsports – Motorsport.com (2020, March). Available at: https://www.motorsport.com/general/news/top-earners-in-single-seater-motorsports/4775106/ (Accessed: August 2026)
- How Lewis Hamilton's 2026 Ferrari deal compares to Michael Schumacher's biggest contract – Yahoo Sports (2026, January). Available at: https://sports.yahoo.com/articles/lewis-hamilton-2026-ferrari-deal-210000128.html (Accessed: August 2026)
- Formula One Rich List 2026: These are the 12 most wealthy F1 drivers in the world – The Scotsman (2026, March). Available at: https://www.scotsman.com/sport/other-sport/formula-one-rich-list-2026-these-are-the-12-most-wealthy-f1-drivers-in-the-world-max-verstappen-net-worth-5619915 (Accessed: August 2026)
- 2026 F1 driver contract lengths and wages including Max Verstappen and Lewis Hamilton – F1 Oversteer (2026, April). Available at: https://www.f1oversteer.com/features/2026-f1-driver-contract-lengths-and-wages-including-max-verstappen-and-lewis-hamilton/ (Accessed: August 2026)
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