Formula 1 is one of the most financially rewarding arenas in professional sport. F1 driver salaries in 2026 range from around $500,000 for rookies to $70 million or more for the sport's biggest names, with Max Verstappen leading the grid. The sheer spread between the highest and lowest-paid drivers on the same grid makes F1 earnings one of the most talked-about topics in motorsport — and the numbers are only getting bigger.
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TABLE OF CONTENTS
Key takeaways
- Max Verstappen is the highest-paid F1 driver in 2026, on a reported base salary of $70 million — with a new contract extension reportedly worth up to $107 million per season in base pay
- Lewis Hamilton earns a reported $60 million at Ferrari, with total annual earnings — including bonuses — estimated at around $100 million
- The average F1 driver salary on the 2026 grid is approximately $16.4 million, but the median is $11 million, skewed heavily by top contracts
- Rookie drivers can earn as little as $500,000 to $1 million, before personal endorsements are factored in
- Michael Schumacher remains the highest-earning F1 driver of all time, with career earnings estimated at over $600 million–$1 billion
Profile summary
Sport | Formula One (F1) |
Governing body | Fédération Internationale de l'Automobile (FIA) |
Grid size | 22 drivers (2026 season) |
Highest-paid driver (2026) | Max Verstappen — reported $70m base salary |
Second-highest paid (2026) | Lewis Hamilton — reported $60m base salary |
Average grid salary (2026) | ~$16.4m (mean); ~$11m (median) |
Lowest-paid drivers (2026) | Arvid Lindblad / Franco Colapinto — $500k–$1m |
Driver salaries vs. budget cap | Driver salaries are exempt from the team cost cap |
All-time highest earner | Michael Schumacher — est. $600m–$1bn career earnings |
What is the average wage of an F1 driver?
The average F1 driver salary figure requires careful handling. In 2026, F1 drivers earn between $750,000 and $70 million in base salary, with the mean average salary on the grid sitting at $16.4 million — though the median is just $11 million, as top earners make the mean significantly top-heavy.
The average F1 driver salary across the full grid is harder to pin down than popular coverage suggests. While the top five earners skew the average considerably upward, drivers in the lower half of the grid may earn as little as $1–2 million per year, with some junior drivers at newer or smaller teams commanding even less.
In short, the "average" masks a dramatic divide between superstars and the rest of the pack.
How much does an F1 driver earn per race?
F1 drivers are not paid a flat fee per race appearance. Drivers are paid through contracted annual compensation — their base salary plus bonuses tied to season-long or race-by-race performance triggers — rather than a flat per-race appearance fee.
That said, dividing contracts across a 24-race calendar gives some perspective. A top driver like Lando Norris earns roughly $2.4 million per race weekend, while a mid-field driver earns approximately $200,000 to $400,000 per event.
F1 driver salaries in 2026: the full picture
Formula 1 drivers earn reported base salaries ranging from around $500,000 for rookies to $70 million for Max Verstappen. Lewis Hamilton follows on a reported $60 million at Ferrari, while most of the midfield sits between $2 million and $13 million a year.
Here is the full reported salary breakdown for the 2026 season:
Driver | Team | Reported base salary (USD) |
Max Verstappen | Red Bull | $70m |
Lewis Hamilton | Ferrari | $60m |
Charles Leclerc | Ferrari | $34m |
George Russell | Mercedes | $34m |
Lando Norris | McLaren | $30m |
Carlos Sainz | Williams | $30m |
Fernando Alonso | Aston Martin | $20m |
Alex Albon | Williams | $15m |
Oscar Piastri | McLaren | $13m |
Pierre Gasly | Alpine | $12m |
Kimi Antonelli | Mercedes | $5m |
Arvid Lindblad | Racing Bulls | $500k–$1m |
Franco Colapinto | Alpine | $500k–$1m |
In 2026, 18 of the 22 drivers will reportedly take home at least $1 million in base salary — and that's before factoring in performance bonuses, sponsorship deals, or brand endorsements.
The Verstappen contract that reset the market
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Max Verstappen became the sport's first ever $100 million man, according to reports, after ending the biggest contract drama of the summer by signing a Red Bull extension. While driver contracts are closely guarded secrets, it never takes long for estimated numbers to leak.
According to Swiss insider Marc Limacher, Verstappen's new base salary will be approximately 92 million Euros per season — translating to around $107 million. Bonus clauses could push his total remuneration to 115 million Euros per season, meaning his four-year pact could be worth north of $500 million. GPFans reported:
"Max Verstappen has reset F1 driver salaries again by becoming the sport's first ever $100m man."
The Hamilton effect at Ferrari
Lewis Hamilton's move from Mercedes to Ferrari, which generated enormous global headlines, came with a significant pay bump. Hamilton earns a reported $60 million base salary at Ferrari in 2026, with total annual earnings — including bonuses and personal endorsements — estimated at around $100 million, making him one of sport's highest earners.
Commercial value and global fan social media presence are increasingly factors in driver pay, independent of race results. Hamilton's continued high earnings despite a difficult start at Ferrari illustrate how commercial value can outlast a rough on-track patch.
Factors that determine F1 driver salaries
While prize money is awarded to teams, individual driver salaries are negotiated privately and can vary widely. A driver's income typically includes a base salary, performance bonuses, and endorsement deals.
Several factors determine how much a driver ultimately earns:
- On-track performance. Points scored, race wins, podiums, and qualifying consistency remain the clearest and most direct inputs to a driver's market value. In F1, a single strong season can reshape a driver's next contract entirely.
- Team budget. Top teams like Ferrari, Red Bull, and Mercedes can afford higher salaries than midfield or backmarker teams.
- Sponsorship value. Drivers who bring personal sponsors or global brand appeal often command higher contracts.
- Experience and reputation. More experienced and successful drivers are typically able to command higher salaries and attract more sponsorship deals. A world champion like Lewis Hamilton will earn more than a rookie driver with limited top-level experience.
- Contract structure. Long-term deals may include win bonuses, championship incentives, and appearance fees.
- Marketability. Social media presence, nationality, and public image all play a role in endorsement deals and salary negotiations.
Do driver salaries count against the budget cap?
This is a crucial point often misunderstood. Driver salaries do not count against the $215 million cost cap every team operates under in 2026. This means teams can theoretically spend unlimited amounts on drivers while still respecting the cap.
Team salary and personal sponsorship income are separate. A driver's team contract covers their racing salary and team-specific bonuses, while personal endorsement deals — with clothing brands, watch companies, and similar partners — are negotiated independently and remain the driver's own.
Lewis Hamilton, for example, reportedly earns over $10 million annually from various endorsements, including prominent partnerships with brands like Tommy Hilfiger and Mercedes-Benz.
Who is the highest-paid F1 driver ever?
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The title of highest-paid F1 driver of all time belongs to Michael Schumacher. According to Forbes, Schumacher's career earnings reached $1 billion. The seven-time champion is one of only six athletes ever to top the Forbes list of the world's highest-paid athletes, finishing at the summit in 1999 and 2000. His annual earnings peaked at $80 million in the midst of five straight titles for Ferrari.
At his peak, Schumacher's income from endorsements alone exceeded $50 million a year, and he made more than $10 million a year simply to wear the Shell logo.
Lewis Hamilton is the second-highest career earner in F1 history. Hamilton's total career earnings are estimated at over $577 million. In addition to matching Schumacher's championship record, Hamilton exceeded his predecessor in terms of race victories, ranking as the driver with the most wins in F1 history.
Latest news: F1 driver salary records shattered in 2026
F1's 2026 driver salaries have some new eye-popping numbers at the top of the list, and one of the most insane pay gaps in professional sports.
George Russell received the biggest pay rise on the 2026 grid. His base salary jumped from $15 million to $34 million — more than double what Mercedes paid him in 2025.
Carlos Sainz was offered a $30 million annual salary to stay at Williams, along with exit clauses based on the team's future performance. The deal came just 24 hours after his team-mate Alex Albon confirmed he would remain with Williams for 2027, on a reported salary of $15 million.
Meanwhile, Verstappen's new numbers not only take him further clear of nearest rival Hamilton in F1's pay stakes, but also grow the chasm to the sport's newest superstar Kimi Antonelli — who earns just $2 million in base salary, despite being the youngest driver to lead a lap in F1 during the 2025 Japanese Grand Prix.
In total, the 11 Formula 1 teams are expected to spend around $324 million combined on driver salaries in the 2026 F1 season — the highest ever in the sport.
FAQs
- How much do F1 drivers make in 2026? Reported base salaries range from $500,000 for rookies to $70 million for Max Verstappen, with most of the grid earning between $2 million and $13 million before bonuses.
- Who is the highest-paid F1 driver in 2026? Max Verstappen leads the grid at a reported $70 million base salary, with a new Red Bull extension reportedly worth up to $107 million per season in base pay.
- What is the average wage of an F1 driver? The mean average salary in 2026 is approximately $16.4 million, but the median is $11 million — a better indicator of what a typical driver earns, since the top contracts skew the average upward significantly.
- How much does Lewis Hamilton earn at Ferrari? Hamilton earns a reported $60 million base salary at Ferrari in 2026, with total annual earnings including bonuses and endorsements estimated at approximately $100 million.
- Who is the highest-paid F1 driver ever? Michael Schumacher, whose career earnings are estimated between $600 million and $1 billion according to various sources, including Forbes, which placed him at $1 billion in career earnings.
- Do F1 driver salaries count against the budget cap? No. Driver salaries are explicitly excluded from the team cost cap, allowing teams to spend freely on their drivers regardless of other budget constraints.
- How much do rookie F1 drivers earn? Most rookie drivers earn between $500,000 and $1 million in base salary for their first season. Some drivers at smaller or newer teams may earn even less, or may bring sponsorship money to help fund their seat.
- Do F1 drivers earn money per race win? Many contracts include performance bonuses. Top-tier drivers typically earn between $250,000 and $500,000 per race victory, on top of their base salary.
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From earning $10,000 per episode on Stranger Things to building a beauty and lifestyle brand, Brown has turned teenage fame into a fortune that reportedly makes her the wealthiest member of the cast.
Source: TUKO.co.ke