According to the list compiled by RacingNews365, below are the estimated 2023 ‘base’ salaries for F1 drivers.
These numbers exclude any personal endorsements they may have as well as bonuses they may have written into their contract.
Driver Salaries do not get counted in the annual ‘Cost Cap’ each team must meet.
Estimated Base Salaries
|Max Verstappen||Red Bull||$55 million|
|Charles Leclerc||Ferrari||$36 million|
|Lewis Hamilton||Mercedes||$35 million|
|Lando Norris||McLaren||$20 million|
|Sergio Perez||Red Bull||$10 million|
|Carlos Sainz||Ferrari||$10 million|
|Valtteri Bottas||Alfa Romeo Sauber||$10 million|
|George Russell||Mercedes||$8 million|
|Esteban Ocon||Alpine||$6 million|
|Fernando Alonso||Aston Martin||$5 million|
|Pierre Gasly||Alpine||$5 million|
|Kevin Magnussen||Haas||$5 million|
|Alex Albon||Williams||$3 million|
|Lance Stroll||Aston Martin||$2 million|
|Nico Hulkenberg||Haas||$2 million|
|Nyck de Vries||Scuderia AlphaTauri||$2 million|
|Guanyu Zhou||Alfa Romeo Sauber||$2 million|
|Oscar Piastri||McLaren||$2 million|
|Yuki Tsunoda||Scuderia AlphaTauri||$1 million|
|Logan Sargeant||Williams||$1 million|
Total Estimated Team Salary Spend
|Red Bull||$65 million|
|Alfa Romeo Sauber||$12 million|
|Aston Martin||$7 million|
|Scuderia AlphaTauri||$3 million|
What comes under the F1 cost cap?
Any expenditure related to car – but not engines – performance is relevant for the cost cap. This includes:
- All parts on the car (from the steering wheel to the wheel nuts)
- All the elements needed to run the car
- Most of the team personnel
- Garage equipment
- Transport costs
- Development and R&D costs
The biggest area of focus is car development costs, with teams having a weigh up what is developed, how much is spent on each part which is manufactured and how many of the parts are needed and can be afforded without overspending.
What doesn’t come under the F1 cost cap?
There are several big-ticket things that aren’t covered by the cost cap, including:
- Driver salaries
- The wages of the three highest-paid staff members
- Travel costs of personnel
- Marketing spend
- Property and legal costs
- Entry and license fees
- Any non-F1 or road car activities
- Parental and sick leave payments
- Employee bonuses and staff medical benefits
- Engines – which are covered by their own set of cost regulations.