How much do Formula 1 drivers make? Salaries (and schedule) for the 2023 F1 season.

Not all Formula One drivers are compensated equally, with salaries ranging from about $1 million to an impressive $55 million.

Despite recent talk of driver salary caps, Formula One has yet to impose any such rules, continuing to exempt driver salaries from team budget restrictions. Red Bull driver Max Verstappen addressed the issue before the 2022 Azerbaijan Grand Prix, saying the growing popularity of F1 racing should benefit everyone, especially the drivers who put themselves at risk for fans’ entertainment.

Without Sebastian Vettel, Daniel Ricciardo and Mick Schumacher in the 2023 season, there are some new faces in the racing game. Here’s what veterans and newcomers alike are expected to earn.

How much do F1 drivers make?

Since 2017, Formula One has had 10 teams competing with two drivers each, for a total of 20 drivers. Here are the countries of origin, sponsors and car numbers of each driver competing in 2023, according to ESPN, as well as how much Spotrac reports each is earning in salary for the 2023 season.

Red Bull Racing

• Max Verstappen, Belgium (#1) - $55 million

• Sergio Perez, Mexico (#11) - $10 million

Ferrari

• Charles LeClerc, Monaco (#16) - $24 million

• Carlos Sainz Jr., Spain (#55) - $12 million

Mercedes

• Lewis Hamilton, U.K. (#44) - $35 million

• George Russell, U.K. (#63) - $8 million

Alpine

• Esteban Ocon, France (#31) - $6 million

• Pierre Gasly, France (#10) - $5 million

McLaren

• Lando Norris, U.K. (#4) - $20 million

• Oscar Piastri, Australia (#81) - $2 million

Alfa Romeo

• Valtteri Bottas, Finland (#77) - $10 million

• Zhou Guanyu, China (#24) - $2 million