Formula 1 is one of the sports that generates the most money in the world, between travel, sponsorship, prizes, salaries for each team member, and, of course, the drivers’ salaries, which are very high. The highest-paid driver on the grid is Max Verstappen, closely followed by Lewis Hamilton, but the salaries of Fernando Alonso and Carlos Sainz, far from the best, are nothing to be envied.
Fernando Alonso’s salary
Fernando Alonso is, along with Max Verstappen and Lewis Hamilton, one of the world champion drivers on the current grid. After 20 years in the Grand Prix, the Oviedo native continues to prove that age is no barrier to being one of the most competitive drivers on the grid. He signed his latest contract with Aston Martin when he joined the team in 2023, after ending his third stint with Alpine (formerly Renault). The British team trusted the Asturian to take the wheel of a project that is nearing completion, and gave him a contract worth approximately $18 million per season, making him the fourth highest paid driver on the grid.
Carlos Sainz’s salary
Carlos Sainz is one of the most outstanding drivers on the F1 grid. His already long career has seen him drive for several teams on the grid, including Toro Rosso (now Racing Bulls), Renault (now Alpine), McLaren, Ferrari, and now Williams. In his last stint in red, he achieved his greatest sporting successes, winning four races, one in 2022, another in 2023, and two in 2024. To that he can add a total of 27 podium finishes.
The signing of Lewis Hamilton by Ferrari left him without a drive for this season, and the Madrid native put his trust in the Williams project to continue his successful career in the Grand Prix. He signed a two-year contract, for this season and the next, with an annual salary of approximately $8 million.
F1 salaries
There are only three drivers who earn more per season than Fernando Alonso. Max Verstappen is the highest paid on the grid, with an approximate salary of €52 million per season. Next on the list is Lewis Hamilton, who earns around $48 million a year from Ferrari. And third place in the ranking goes to Charles Leclerc, who earns a salary of around $27 million per season. Ferrari is by far the team that spends the most money on salaries, paying around $65 million per season for its two drivers.
Carlos Sainz is the seventh highest paid driver on the F1 grid, tied with Pierre Gasly, and behind Lando Norris, who earns around 16 million euros per season from McLaren, and George Russell, who has an approximate salary of 12 million euros with the Mercedes team.
Below the Madrid native are Nico Hülkenberg and Esteban Ocon, with €7 million per season, Oscar Piastri (who could be world champion this season) and Alex Albon, with €6 million. Lance Stroll earns €3 million, Bortoleto, Yuki Tsunoda, and Antonelli are at €2 million, and the rest of the drivers earn between €1 million and €500,000.
These salaries are only approximate figures, as in addition to the fixed salary each driver receives, there are also various extras that can vary depending on performance during the season.
Therefore, although Spanish drivers are not the highest paid on the F1 grid, they are among the best paid drivers on the F1 grid, which demonstrates the prominent role of our representatives in the Grand Circus, in the best motor racing competition on the planet.