From Lewis Hamilton to Max Verstappen, passing through Charles Leclerc, Fernando Alonso, and a few surprises: here’s the ranking of Formula 1 drivers’ salaries in the 2024 season.
Fast, beloved, and… well-paid. As tradition, at the end of the 2024 season, the list of the highest-paid Formula 1 drivers has been revealed, with data from the authoritative American economic magazine Forbes. This multimillion-dollar ranking features the most prominent drivers of the 2024 season, with several surprises.
Here are the 10 highest-paid Formula 1 drivers in 2024:
10th place – Pierre Gasly, Alpine ($12 million salary)
The 28-year-old French driver, a veteran of Formula 1 since 2017, was one of the surprises of the year. Fast, consistent, and solid, he scored 42 points with an uncompetitive Alpine, finishing 10th in the 2024 Drivers’ Championship. The same position he holds in the highest-paid list, with a $12 million salary, including $10 million base salary and $2 million in bonuses. A well-deserved salary, not only for his results but also for his caution on track, as he is the only driver not to have caused any damage to the team. Chapeau!
9th place – Carlos Sainz, Ferrari ($19 million salary)
Carlos Sainz had a bittersweet 2024, starting with the news of his dismissal from Ferrari to make way for Lewis Hamilton, but earning two wins (in Australia and Mexico) and several podiums, which ultimately secured him 5th place in the Drivers’ Championship. The Spaniard, who will race for Williams in 2025, leaves Maranello with many good memories and a $19 million paycheck for the season, split between $10 million in salary and $9 million in bonuses.
8th place – Sergio Perez, Red Bull ($19.5 million salary)
In 8th place in the highest-paid ranking is Red Bull’s Mexican driver. Perez had a strong start to the season, securing four podiums in the first five races, but then lost speed and consistency, with incidents and poor performances in the second half of the season. As of now, his future at Red Bull is uncertain. Despite this, Perez, who brings some of the team’s richest sponsors, earned $19.5 million this year ($12 million base salary and $7.5 million in bonuses).
7th place – Oscar Piastri, McLaren ($22 million salary)
Among the youngest drivers, Oscar Piastri is by far the highest paid, with a $22 million salary. The 23-year-old Australian McLaren driver, in his second Formula 1 season, surprised everyone with his composure and consistency, securing two wins in Hungary and Azerbaijan. His salary breakdown revealed by Forbes shows that only $5 million was his base salary, while the remaining $17 million came from bonuses. Now, beyond his earnings, Piastri seems determined to do even better and fight for the 2025 World Championship.
6th place – George Russell, Mercedes ($23 million salary)
For 26-year-old George Russell, 2024 was a season of ups and downs, with two wins but also many difficult races, as Mercedes was inconsistent in terms of competitiveness. Ultimately, Russell finished the season ahead of teammate Lewis Hamilton in the points standings, with the responsibility of becoming the new team leader when Hamilton leaves the Silver Arrows to make room for young Andrea Kimi Antonelli. Financially, Russell ranked 6th among the highest-paid drivers, with $23 million in total, including $8 million in bonuses.
5th place – Charles Leclerc, Ferrari ($27 million salary)
Charles Leclerc, Ferrari’s representative, ranked in the top 5 highest-paid drivers of 2024. This year, he had his most successful season in terms of wins, claiming three victories, including one in Monaco and one in Monza, where he enjoyed an unforgettable crowd celebration with Ferrari fans. Although never in contention for the World Championship due to Ferrari’s lack of competitiveness, he fought until the end of the season for the vice-champion title, ultimately finishing 3rd, behind Verstappen and Norris. In 2025, Leclerc will have a seven-time World Champion, Hamilton, as his teammate and will need to give his best to maintain his position as Ferrari’s team leader. For now, he receives $27 million from Maranello, including $15 million in base salary and $12 million in bonuses.
4th place – Fernando Alonso, Aston Martin ($27.5 million salary)
Fernando Alonso’s 2024 was certainly not a year to remember, with only 70 points in 24 races, which earned him 9th place in the standings, ahead of Pierre Gasly. These disappointing results, especially compared to his 2023 performance (4th with 206 points), are somewhat softened by one of the highest salaries in Formula 1: $27.5 million, with $3.5 million in bonuses and $24 million in base salary. This figure demonstrates how much the two-time World Champion, with Renault in 2005 and 2006, is valued by his Aston Martin boss, Lawrence Stroll. Now, Alonso is eagerly awaiting 2026, when he will finally drive a car entirely designed by Adrian Newey.
3rd place – Lando Norris, McLaren ($35 million salary)
After the 2023 Saudi Arabian Grand Prix, when McLaren was last in the standings with zero points, no one could have imagined the team’s meteoric rise over the next two years. Today, McLaren stands at the top of the world, having just won the Constructors’ Championship, with plans to fight for the Drivers’ Title in 2025. Lando Norris, despite some very negative moments, proved to be the real leader of the British team in 2024. He finishes the season with increased awareness, some regrets, and the title of Vice-Champion, as well as $35 million in earnings, of which $23 million were from bonuses.
2nd place – Lewis Hamilton, Mercedes ($57 million salary)
Lewis Hamilton’s 2024 was a year of separation from Mercedes. Announced as Ferrari’s future driver at the start of the year, Hamilton had a particularly difficult season, often uncomfortable with his car and struggling in the lower ranks due to subpar qualifying performances. Ultimately, Hamilton bid farewell to Mercedes with two wins, at Silverstone and Spa, and an incredible overtaking on Russell in the final race in Abu Dhabi, where he made a remarkable comeback. Despite finishing 7th in the Drivers’ Championship, Hamilton ranks 2nd in the highest-paid list, with $57 million in earnings, including $55 million in base salary. Hamilton represents a valuable “brand” for Mercedes, and his salary is well-justified by the immense number of sponsors and media coverage he has brought to the team, which he will now take to Ferrari.
1st place – Max Verstappen, Red Bull ($75 million salary)
In 1st place, there could only be him, the dominant figure of modern Formula 1. Freshly crowned World Champion for the fourth time, Verstappen won 9 races this year, securing the title with two races to spare, though he faced more challenges than the previous year when he almost raced alone for the entire season. Despite Red Bull’s struggles early in the year with the loss of key figures (including Adrian Newey), Verstappen managed to limit the damage in the middle of the season when his car wasn’t competitive, before returning to dominate when conditions improved. In recent months, the Dutchman openly clashed with the FIA, even receiving a penalty to serve community service in Rwanda. These situations seem to have had no impact on Verstappen’s confidence, as he prepares for fatherhood and an even tougher battle in 2025 to remain at the top. Meanwhile, he welcomes the largest salary in F1 history: $75 million, including $60 million in base salary and $15 million in bonuses. Champion in earnings as well.
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