Max Verstappen, as a four time world champion, is currently the best-paid driver. He earns around 65 million US dollars a year from Red Bull. The team is happy to pay him this amount, especially after he won races like the 2024 Brazilian Grand Prix, where he came from 16th on the grid to finish first. Verstappen also works with big sponsors like EA Sports, Heineken and Viaplay, which gives him even more income.

Lewis Hamilton is not far behind. He surprised many people when he left Mercedes to join Ferrari, and now earns about 60 million dollars a year as a base salary. With extra payments for race results and personal sponsorship deals, his total yearly income could reach 100 million dollars, which would ultimately place him first.

Ferrari is also paying Charles Leclerc well, with the Monegasque driver earning about 34 million dollars a year. That puts him third on the list.

Veteran driver Fernando Alonso is still Aston Martin's favourite despite two DNF's this year, and at 43 years old, he’s still performing at a high level, reportedly earning 20 million dollars a year. His current deal allows him to continue racing through to 2027 if he chooses.

Lando Norris, whos long-term contract with McLaren ends next year, also earns about 20 million dollars a year, however, some sources claim that it has changed after last year's great results. Both he and the team are committed to working together for the future, although it’s believed there are options in his contract that would let him leave early if another strong opportunity comes along.

George Russell at Mercedes is said to be earning 15 million dollars a year, while Carlos Sainz, now racing for Williams, and Pierre Gasly at Alpine are both on 10 million.

Alex Albon, Sainz’s teammate at Williams, receives around 8 million, and Oscar Piastri at McLaren is earning around 6 million US dollars a year, however, this number is currently reported to be much higher, at about 20 million, after he signed a new long-term contract with McLaren in March but it's not confirmed.

Nico Hulkenberg and Esteban Ocon are earning around 7 million US dollars per year. Hulkenberg races for Sauber F1, soon to become Audi, while Ocon has taken Hulkenberg's place at Haas after leaving Alpine.

Lance Stroll at Aston Martin is reported to be earning about 3 million, although full details of his contract are not public. While Yuki Tsunoda, who was recently promoted to the main Red Bull team, is earning around 2 million dollars this year. His current salary may seem low compared to the top drivers, but it could increase significantly if he performs well and proves himself in the team.

New and younger drivers like Kimi Antonelli, Oliver Bearman, Gabriel Bortoleto, Jack Doohan, and Isack Hadjar are earning much less, between $0.5 million and $2 million. This is normal in Formula 1, as rookies usually begin with smaller contracts and must prove themselves before they can earn more. Some of them also bring personal sponsors, which can help increase their total income even if their team salary is lower.

It’s also good to know that driver salaries are not part of F1’s budget cap. Teams can pay their drivers as much as they want. Also, some drivers bring sponsors who help cover the costs, which can change how much the team pays them directly.

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