Like many in the United States, I have become a major fan of Formula One (F1) over the last few years. I am not new to F1 racing. I am new as a major fan of F1 racing. Sometimes I paid attention to F1 in the Michael Schumacher glory days, but it was very much predictable. Michael was going to win. The early years of Lewis Hamilton’s domination was also predictable. But over the years, while the action on the track remains predictable, the story lines in view of access to drivers have made the sport that much more interesting. But as this is a financial article, let us take a look at F1 Driver Salary in 2022.
The Drama
Depending on the side that you are on, there is a protagonist and an antagonist in F1. When I say sides, I mean team. Is it Ferrari, Mercedes, Red Bull, Haas, Aston Martin, Alfa Romeo, McLaren or Alpha Tauri? Is it turmoil within the team regarding strategy, looking at you Ferrari. Did you totally miss the new regulations, looking at you Mercedes. Did you have internal team conflict regarding team orders, looking at you Red Bull. There is also the matter of the back markers and who will have a seat next year. It is interesting how so much of the drama of F1 is off the track. But let us refocus on F1 Driver Salary in 2022.
2022 F1 Driver Salary
As the top motor sport in the world, you can expect the top drivers to earn a lot. Way more than us mere mortals who are concerned about saving and investing to financial independence. If manage appropriately, these drivers will no doubt have a financially secure future. Below is the list of the salaries for the 20 F1 drivers in 2022.
- Lewis Hamilton (Mercedes, #44) – $40 million
- Max Verstappen (Red Bull Racing, #1) – $25 million
- Fernando Alonso (Alpine, #14) – $20 million
- Lando Norris (McLaren, #4) – $20 million
- Sebastian Vettel (Aston Martin, #5) – $15 million
- Daniel Ricciardo (McLaren, #3) – $15 million
- Charles Leclerc (Ferrari, #16) – $12 million
- Valtteri Bottas (Alfa Romeo, #77) – $10 million
- Lance Stroll (Aston Martin, #18) – $10 million
- Carlos Sainz Jr. (Ferrari, #55) – $10 million
- Sergio Pérez, (Red Bull Racing, #11) – $8 million
- Kevin Magnussen, (Haas, #20) – $6 million
- Pierre Gasly, (AlphaTauri, #10) – $5 million
- Esteban Ocon, (Alpine, #31) – $5 million
- George Russell, Mercedes, #63) – $5 million
- Alexander Albon, (Williams, #23) – $2 million
- Nicholas Latifi, (Williams, #6) – $1 million
- Zhou Guanyu, (Alfa Romeo, #24) – $1 million
- Mick Schumacher, (Haas, #47) – $1 million
- Yuki Tsunoda, (AlphaTauri, #22) – $750,000
As expected, the elite drivers are paid a tremendous amount of money. However, even the back markers are making a very good living. All drivers having the opportunity to make more from sponsorships and other business ventures.
Conclusion
While you may not be making as much as a F1 driver, you can still achieve financial independence. Whatever you are doing, earn, live below your means, save, and invest. You do not need anything close to a F1 driver salary. Continue your journey to financial independence by taking your next best financial step forward.
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