2024 F1 Drivers Salary: Who Earns the Most?

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Driving an F1 car is one of the most difficult and dangerous tasks, but because of that, drivers get hefty salaries based on their performance, potential, and team drive. Today, we will list the top 10 F1 drivers with the highest salary package in the 2024 season and also know their performance in the 2024 Formula 1 season.

Top 10 F1 Drivers Salary Of 2024 Season

We are going to reveal every driver’s salary and also the bonus they will get if they achieve the team’s target. Only then will the bonus be included in their salary. After the FIA excluded the F1 driver salary from the cost cap rule, the team invested more money in the drivers, which made many drivers like Fernando Alonso choose Aston Martin. The source is from the Forbes.

10. Pierre Gasly: Salary($12M): $10M | Bonuses: $2M | Team: Alpine

One of the F1 drivers who did not cost a single damage penny to the team in the 2024 season, Pierre Gasly, stays in 10th place in the F1 drivers with the highest salary. He is an experienced 28-year-old F1 driver who has been at the highest level of this sport since 2017, when he debuted for Toro Rosso in the Malaysian Grand Prix, replacing the experienced Daniil Kvyat. Still, he did not have a great race as he finished in 14th.

Gasly, this season’s best result came in the Brazilian Grand Prix, where he finished in third place, which was his only podium finish, and now he has extended his contract with Alpine until 2026. He earns a total of $12M, of which $2M is a bonus he will surely be given after his amazing season. It makes him sit on the 10th spot of the F1 Drivers Salary list.

9. Carlos Sainz: Salary($19M): $10M | Bonuses: $9M | Team: Ferrari

One of the most underrated F1 drivers in the Modern Era is Carlos Sainz, who won the pole and has been on the podium with every team he raced for. However, the team still doesn’t take him seriously, which is beyond logical thinking because he always brings some point for the team and occasionally steps up on the podium.

Sainz was also on a $10M salary contract, but the bonus was $9M, totaling $19M. He debuted in the Formula One 2015 Australian Grand Prix for the Toro Rosso STR8 team, and on his debut race, he finished 9th on the grid. Recently, he has not been selected for the further season for Ferrari as Lewis Hamilton has been the driver, which Ferrari signed in the 2024 season to end the 12 years of Hamilton and Mercedes Partnership. It makes him sit on the 9th spot of the F1 Drivers Salary list

Sainz has now joined Williams, which was shocking news because everyone thought that Red Bull might give him a second driver seat. He is one of the drivers who can handle the top team F1 cars, as he did in Ferrari. He finished the season 2024 with 290 points and stayed 5th in the Driver Championship.

8. Sergio Perez: Salary ($19.5M): $12M | Bonuses: $7.5M | Team: Red Bull Racing

The one driver who disappointed the most this season is Sergio Perez, who finished 8th in the driver championship with only 152 points. In contrast, his teammate won another F1 driver championship title, clearly stating that he might be terminated from his contract with Red Bull, which ends in 2026. It makes him sit on the 8th spot of the F1 Drivers Salary list

Perez was runner-up last season with 285 points, but this year was one of his worst years, and Red Bull still backed him. He earned $12M as a salary, but getting $7.5M bonuses after his performance is quite difficult. Because of him, Red Bull failed to win the constructor this season.

7. Oscar Piastri: Salary($22M): $5M | Bonuses: $17M | Team: McLaren

Oscar Piastri is the rising star in Formula 1 for McLaren. The 23-year-old Australian driver won the FIA Formula 2 Championship before joining McLaren. His performances this season have reflected maturity and exceptional talent. He scored points in most races while also achieving podiums more than once.

After an outstanding performance, he might receive a total of $17M in bonuses in addition to the $5M salary. Piastri’s best performance was finishing runner-up in the Japanese Grand Prix, which made him one to watch out for in the coming years. It makes him sit on the 7th spot of the F1 Drivers Salary list

6. George Russell: Salary($23M): $15M | Bonuses: $8M | Team: Mercedes

George Russell is known for his sharp driving skills and determination, and he had another good season with Mercedes. The 26-year-old British driver, who debuted in F1 with Williams in 2019, has been the team’s ace since joining.

This season, Russell scored several podium finishes and even won two Grand Prix races, which heaved him into the top category of drivers. He earned a $8M bonus and a $15M salary for his efforts. This is actually his best performance of the year at the British Grand Prix, in which he triumphed, exciting the spectators, who are fans from home. It makes him sit on the 6th spot of the F1 Drivers Salary list

5. Charles Leclerc: $27M Salary: $15M Bonus: $12M Team: Ferrari

This is a promising season for Charles Leclerc as he continues his outstanding show for Ferrari. Charles, from Monaco, has remained an iconic and crucial force to the Ferrari team, an aggressive, aggressive player who has always displayed strategic approaches and much-needed factors in the driving style that win races.

Leclerc’s highest result was in the Italian GP, where he finished first, pleasing the Tifosi. After his performance on the racing track, he received a bonus of $12M, bringing his overall money to $27M. Leclerc has been instrumental in ensuring that Ferrari remains competitive in both the drivers’ and constructors’ championships. It makes him sit on the 5th spot of the F1 Drivers Salary list

4. Fernando Alonso: Salary($27.5M): $24M | Bonuses: $3.5M | Team: Aston Martin

Another superlative season for veteran Spanish driver Fernando Alonso of Aston Martin: this 43-year-old does things that, statistically speaking, only a very few do to say, nothing short of defying the laws of nature.

Fernando had some brilliant finishes all season and is definitely one to watch in the future. In the Monaco Grand Prix, he scored his best result this season, where he was a worthy second. Alonso’s $3.5M bonus and his $24M salary are testaments of his value to the team and the sport. It makes him sit on the 4th spot of the F1 Drivers Salary list

3. Lando Norris: Salary($35M): $12M | Bonuses: $23M | Team: McLaren

Lando Norris is the young British sensation who has made a breakout season with McLaren. The 25-year-old driver consistently performed well, securing several race wins and podium finishes. Norris’s best result came in the Singapore Grand Prix, where he clinched a thrilling victory. It makes him sit on the 3rd spot of the F1 Drivers Salary list

Norris’s impressive season earned him a substantial $23M in bonuses and his $12M salary, reflecting his critical role in McLaren’s success and potential as a future world champion.

2. Lewis Hamilton: Salary($57M): $55M | Bonus: $2M | Team: Mercedes

Legendary seven-time world champion Lewis Hamilton did not stop showing off his inimitable skills and experience. In a season where stiff competition from rival cars was evident, and even in his last race of the Mercedes, he overtook his teammate, Goerge Russell, for the fourth position to end his 12-year partnership with Mercedes. It makes him sit on the 2nd spot of the F1 Drivers Salary list

Hamilton always remained a top contender throughout the season. He topped in the Belgium and Great Britain Grand Prix. He added a $2M bonus to his colossal $55M salary by constant excellence. His legacy is well-written in Formula 1 and still stands out in every race. He ended his career with an impressive fourth in the Abu Dhabi race and 7th in the Driver Championship

1. Max Verstappen: Salary($75M): $60M | Bonuses: $15M | Team: Red Bull Racing

Max Verstappen was the uncontested master of the 2024 season, winning his fourth drivers’ championship title in a row. The Dutchman, a driver with a very aggressive style, was almost uncatchable this season. His win in the Brazilian Grand Prix was the most impressive, as he won the drivers’ championship. It makes him sit on the 1st spot of the F1 Drivers Salary list

Verstappen’s exceptional season earned him a $15M bonus on top of his $75M salary. His contributions were also instrumental in Red Bull winning the constructors’ championship, solidifying his status as the top driver in Formula.