2020 F1 Drivers’ Salaries Revealed: Hamilton, Vettel and Ricciardo Earn Big

2020 F1 Drivers' Salaries Revealed: Hamilton, Vettel and Ricciardo Earn Big

F1 is a highly demanding sport and thousands of individuals fight for the 20 seats on the grid. Therefore, the grid showcases some of the best drivers around the world. As is to be expected, the best in the business also pocket huge salaries through the season.

The Business Book GP published the ranking of Formula 1 drivers’ salaries this season. The added salaries of all the drivers on the grid come down to a total of $163.5 million.

The seven-time world champion, Lewis Hamilton, is also the highest-paid driver at the paddock and pockets a salary of $47 million.  Hamilton accounts for 28.75% of the total grid’s pay alone. Meanwhile, Alfa Romeo’s Antonio Giovinazzi ranks at the bottom of the list with a salary of $500,000.

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Sebastian Vettel and Daniel Ricciardo complete the F1 earning podium

It is undisputed that Lewis Hamilton ranks number 1 by a large margin on this table as well. Reportedly, he is also the biggest earner per sponsored post, earning around €57, 820 per paid post.

According to the report, “this season’s ranking there are two aspects to consider, namely the exclusion from the figures of the bonus prizes (especially important for the drivers with the lowest salaries).

Sebastian Vettel follows Hamilton’s $47 million with a total salary of $35 million. The four-time world champion is the second-highest earner on the grid, with Daniel Ricciardo being the third-highest earner as Renault pays him $20 million.

F1 cars racing at the Emilia Romagna Grand Prix
Formula One F1 – Emilia Romagna Grand Prix – Autodromo Enzo e Dino Ferrari, Imola, Italy – November 1, 2020 General view during the race Pool via Reuters/Davide Gennari

Here’s a list of the 2020 grid’s salary table:

  1. Lewis Hamilton, $47 million
  2. Sebastian Vettel, $35 million
  3. Daniel Ricciardo, $20 million
  4. Max Verstappen, $16 million
  5. Valtteri Bottas, $9 million
  6. Charles Leclerc, $9 million
  7. Kimi Raikkonen, $6 million
  8. Carlos Sainz, $4.5 million
  9. Sergio Perez, $4 million
  10. Esteban Ocon, $4 million
  11. Romain Grosjean, $2 million
  12. Kevin Magnussen, $2 million
  13. Alex Albon, $2 million
  14. Lando Norris, $1.5 million
  15. Lance Stroll, $1.5 million
  16. Pierre Gasly, $1 million
  17. Daniil Kvyat, $750,000
  18. George Russell, $750,000
  19. Nicholas Latifi, $750,000
  20. Antonio Giovinazzi, $500,000

It is expected that Charles Leclerc and Valtteri Bottas will enjoy considerable growth in their 2021 salaries. The younger drivers get paid significantly less. However, their contract provides them with substantial performance-based bonuses. Pierre Gasly is reported to earn a bonus double his base salary after his first Grand Prix win this season.

Ayush Manjunath

Your friendly-neighborhood-Lawyerman currently pursuing Sports Management to work and pioneer in Sponsorships, Negotiations, Athlete Representation, and content creation within the Indian Sports Industry.