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

Published 11/26/2020, 6:47 AM EST
Formula One F1 – Turkish Grand Prix – Istanbul Park, Istanbul, Turkey – Mercedes’ Lewis Hamilton celebrates on the podium after winning the race alongside third placed Ferrari’s Sebastian Vettel Pool via REUTERS/Kenan Asyali


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.

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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).

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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.

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:

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  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.

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Ayush Manjunath

586 articles

Ayush Manjunath is a Formula 1 author for EssentiallySports with more than 500 articles to his name. A Law graduate and a current Sports Management student, Ayush also has a certificate from UCLA on Sports, Media and Entertainment Management. He has an undying love for motorsports and lives to see Max Verstappen, George Russell, Charles Leclerc, and Lando Norris battle for the championship one day!

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