How much are F1 drivers paid? Here are the salaries for every driver in 2023

It’s a great time to be a Formula One driver.

With the sport’s popularity soaring internationally, drivers are now earning hefty salaries each season.

Of course, the top drivers earn more than newcomers or backmarkers. But still, each of the 19 full-time drivers this season reportedly are earning at least $1 million.

Here are all the details on F1 driver salaries in USD for 2023 (figures courtesy of RacingNews365, not accounting for bonuses, sponsorships or endorsements):

Who is the highest paid F1 driver in 2023?

Max Verstappen, the three-time reigning champion, is unsurprisingly the highest paid driver in 2023.

The 26-year-old Dutchman narrowly won his first title in 2021 before winning in dominant fashion in both 2022 and 2023. He’s quickly moved into the top five on the all-time wins list.

In 2023, Verstappen reportedly will earn a salary of $55 million from his team, Red Bull Racing. He has driven for Red Bull Racing since 2016 after being promoted from Toro Rosso, which was then effectively Red Bull’s junior team.

Behind Verstappen, Mercedes’ Lewis Hamilton ($35 million) and Ferrari’s Charles Leclerc ($24 million) round out the podium of highest paid drivers in 2023. Hamilton is a seven-time champion, while the 26-year-old Leclerc is a rising star for the sport’s most famous team.

Who is the lowest paid F1 driver in 2023?

Three drivers reportedly will make $1 million in 2023 – Haas’ Nico Hülkenberg, AlphaTauri’s Yuki Tsunoda and Williams’ Logan Sargeant. While they all have the same salary, they are in three completely different eras of their respective careers.

Hülkenberg, 36, debuted in 2010 for Williams. While he’s been a respectable veteran over parts of 12 seasons, the German driver holds the record for most F1 starts without a podium finish.

Tsunoda, 23, is in his third season for AlphaTauri, Red Bull’s sister team. He’s yet to score a podium finish, but the Japanese driver has performed well relative to expectations of his team.

Sargeant, 22, stands out as the only American on the grid in 2023. In his rookie campaign, the Florida native has struggled compared to his Williams teammate Alexander Albon. Without improved results, Sargeant’s F1 career could be short-lived.

List of F1 driver salaries for 2023

There are 20 drivers in each race, but only 19 have run full-time this season. Nyck de Vries began the season driving for AlphaTauri, but was replaced by Daniel Ricciardo after 10 races.

Here’s how all 19 full-time drivers stack up this season in order of salary:

1. Max Verstappen (Red Bull, ninth F1 season), $55 million
2. Lewis Hamilton (Mercedes, 17th F1 season), $35 million
3. Charles Leclerc (Ferrari, sixth F1 season), $24 million
4. Lando Norris (McLaren, fifth F1 season), $20 million
5. Carlos Sainz (Ferrari, ninth F1 season), $12 million
6. Sergio Perez (Red Bull, 13th F1 season), $10 million
7. Valtteri Bottas (Alfa Romeo, 11th F1 season), $10 million
8. George Russell (Mercedes, fifth F1 season), $8 million
9. Esteban Ocon (Alpine, seventh F1 season), $6 million
10. Pierre Gasly (Alpine, seventh F1 season), $5 million
11. Fernando Alonso (Aston Martin, 20th F1 season), $5 million
12. Kevin Magnussen (Haas, eighth F1 season), $5 million
13. Alexander Albon (Williams, fourth F1 season), $3 million
14. Oscar Piastri (McLaren, first F1 season), $2 million
15. Lance Stroll (Aston Martin, seventh F1 season, $2 million
16. Zhou Guanyu (Alfa Romeo, second F1 season), $2 million
17. Nico Hülkenberg (Haas, 12th F1 season), $1 million
18. Yuki Tsunoda (AlphaTauri, third F1 season), $1 million
19. Logan Sargeant (Williams, first F1 season), $1 million