How much does a Formula 1 driver earn? Career and Salaries

A Formula 1 it's incredibly competitive. It's also incredibly expensive. Being successful in any professional sport requires the highest levels of dedication and commitment. However, in Formula 1 it also requires huge financial support.

You can't just become an F1 driver overnight. Instead you must work your way to the top of the podium by racing in lower formulas and learning your racing craft.

While Formula 1 enjoys enormous global coverage from television and print media, lower formula racing gets very little exposure.

Drivers typically have to fund their own driving careers. If you really want to be a Formula 1 driver, you must be prepared to spend every penny you have.

Also you need to be very good at persuading other people to spend their money with you. Those who don't make a lot of money as pilots are often left hundreds of thousands of dollars (yes, dollars) in debt.

Where to start?

For a taste of competitive driving, the cheapest and most accessible route is often karting.

Most of the current crop of F1 drivers got their start in karting, including Lewis Hamilton. Take a look at some of these brilliant images of Lewis from his kart racing career.

As you can see, karting is already a very serious form of motorsport. Another possible starting point is to join a racing school, such as the one in Silverstone. You can learn the necessary skills needed to get your first circuit racing license and start your career.

Arriving in Formula 1

As your career progresses, you'll move up to higher racing ranks. In addition it will use faster and more powerful cars. There are several different routes to Formula 1, but a typical junior career follows this structure:

1. karting
2. Formula Ford
3. GP3
4. Formula 3
5. GP2
6. F1

How many years you spend in each category depends on how successful you are. Most countries in the world have a motorsport organization affiliated with the FIA.

In Brazil, three organizations are associated with the FIA:

• Automotive Association of Brazil (AAB)
• Brazilian Automobile Club
• Brazilian Automobile Confederation (CBA)

How much does a Formula 1 driver earn? - Salary

**Salaries released by Forbes in 2018

1. Sebastian Vettel (Ferrari) – $60 million

Sebastian Vettel has a contract with the prancing horse until 2021.

2. Lewis Hamilton (Mercedes) – $50 million

It is speculated that Hamilton could sign a new contract with Mercedes that exceeds 60 million dollars.

3. Kimi Raikkonen (Ferrari) – $40 million

Raikkonen could be considered Ferrari's second driver, but the Scuderia still makes sure its driver is well taken care of with a big contract. However, his current deal ran out at the end of the 2018 campaign.

4. Fernando Alonso (McLaren) – $30 million

The two-time Formula 1 world champion may not have won the title long ago, but his reputation is still high and he remains one of the most talented drivers on the grid. There is ongoing speculation that he could be bought by either Mercedes or Ferrari.

5. Valtteri Bottas (Mercedes) – $12 million

Bottas is in his second season with Mercedes and while he can be impressive at times, company is apparently looking for other drivers to replace the Finn after his contract.

6. Max Verstappen (Red Bull) – $10 million

7. Stoffel Vandoorne (McLaren) – $7 million

8. Daniel Ricciardo (Red Bull) – $6 million

9. Nico Hulkenberg (Renault) – $5.5 million

10. Sergio Perez (Force India) – $5 million

11. Romain Grosjean (Haas) – €4.45 million

12. Esteban Ocon (Force India) – $3 million

13. Kevin Magnussen (Haas) – $2.5 million

14. Lance Stroll (Williams) – €1.8 million

15. Sergey Sirotkin (Williams) – $1 million

16. Carlos Sainz jr. (Renault): $750,000

17. Marcus Ericsson (Alfa Romeo Sauber): $500,000

18. Pierre Gasly (Toro Rosso) – €400,000

19. Brendon Hartley (Toro Rosso) – €350,000

20. Charles Leclerc (Alfa Romeo Sauber): $150,000

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