Formula 1 may be unlike almost every job on this earth but the salary pay structure works the same as a ‘normal’ job in that the best of the best earn the most; only it comes with exorbitantly higher figures.
For example, Max Verstappen is reportedly earning a basic figure of $55 million this season, not including bonuses for wins, podiums and championship titles. Lewis Hamilton is second on the list at $45 million, and he too will be earning a few extra bob having won the British and Belgian Grands Prix.
Charles Leclerc, Lando Norris and George Russell are the next best earners ahead of Fernando Alonso, although, without a podium in the first 14 races of the season, the Aston Martin driver will not be doubling his salary as he did last season. But still, $18m isn’t something to turn your nose up on.
On the opposite end of the scale come the likes of Alonso’s team-mate Lance Stroll, who is said to bring in $3m, with Nico Hulkenberg and Zhou Guanyu on $2m and Yuki Tsunoda and Logan Sargeant only, if one can say that, earning $1m.
But who is worth their millions when you break it down?
While it’s clear to see on track that whatever Red Bull Racing are paying Verstappen, he’s worth every penny – after all his 575 points in F1 2023 were enough to single-handedly win the Constructors’ Championship for Red Bull by 66 points, which was a prize worth $140m to the team. But, he isn’t the leading ‘bang for your bucks’ driver simply because of his hefty salary.
Unlike last season when Verstappen’s base salary cost Red Bull $95,652 per point, this year the reigning World Champ is no longer the stand-out dominant driver on the grid even though he’s won 50 per cent of the Grands Prix.
It’s meant he’s scored 277 points as of the Belgian Grand Prix and while it could yet lead to a championship double for Red Bull, his salary per point has taken a big hit as it has more than doubled.
But the hit to his team is not as big as the one Sauber are facing with Valtteri Bottas. The Sauber driver, who earns a reported $10m per season, has not scored a single point making him the most expensive dollar-to-point driver on the grid.
That his team-mate Zhou is next in line as he too has yet to score a point means Sauber have the biggest wage bill and the least reward for it.
Alpine are next in line with Esteban Ocon scoring five points for his $6 million while Pierre Gasly has six points for the same reported salary.
The worst value-for-money drivers in F1 2024 so far
20. Valtteri Bottas Sauber – $10 000 000
19. Zhou Guanyu Sauber – $2 000 000
18. Esteban Ocon Alpine – $1 200 000
17. Pierre Gasly Alpine – $1 000 000
16. Logan Sargeant Williams – $1 000 000
15. Kevin Magnussen Haas – $1 000 000
14. Alex Albon Williams – $750 000
13. Daniel Ricciardo VCARB – $583 333
12. Fernando Alonso Aston Martin – $367 346
11. Lewis Hamilton Mercedes – $300 000
But while Sauber will be hurting over their wage bill, McLaren will be all smiles as not only does Piastri top the table for the best value for money spent this season, he’s also a driver who is being billed not only as a future F1 World Champion but an “all-time future king” by Eddie Jordan.
Heady praise because while a driver can do well and cost a team less, look at Yuki Tsunoda at $45,454 or Nico Hulkenberg at $90,909, Piastri not only comes with a small salary of just $6m, but he’s scored 167 points to sit P4 in the Drivers’ Championship.
His points, coupled with Lando Norris’, have put McLaren in the hunt for the Constructors’ Championship and they’re doing so with the best ratio of points to dollars of any team.
The best-value for money drivers in F1 2024 so far
10. Max Verstappen Red Bull Racing – $198 555
9. Charles Leclerc Ferrari – $192 090
8. George Russell Mercedes – $155 172
7. Lance Stroll Aston Martin – $125 000
6. Lando Norris McLaren – $100 502
5. Sergio Perez Red Bull Racing – $106 870
4. Carlos Sainz Ferrari – $74 074
3. Nico Hulkenberg Haas – $90 909
2. Yuki Tsunoda VCARB – $45 454
1. Oscar Piastri McLaren – $35 928
It’s no wonder McLaren has already locked the Hungarian Grand Prix winner into a long-term contract, but his manager Mark Webber may want to refine the terms, or at least his salary.
Ferrari though, may be asking themselves a few questions about their 2025 line-up given Carlos Sainz comes in at $74,074 to Charles Leclerc’s $192,090. The Spaniard’s replacement, Lewis Hamilton has bagged 150 points for his Mercedes salary of $45m. And that’s a basic pay cheque that’s expected to rise when he swaps silver for red next season.
Of course, these are just the numbers after the Belgian Grand Prix with F1 2024 still to host another 10 races…
