How much do F1 drivers get paid?

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A friend of mine, that doesnt really like F1 asked me how much the average driver makes per year. I heard once that Michael Schumacher makes $56Million/year. But what are some other salaries?


He was asking how much Jaques Villeneuve and Kimmi Raikkonnen make.
 
You need to get hold of last month's F1 Racing, which had details of all the monies paid to drivers by teams.

Michael earns over $50m, but that's not what he gets paid by Ferrari (that figure is closer to $30m). He makes a lot from personal sponsorship, advertising and endorsements.
 
Originally posted by GilesGuthrie
You need to get hold of last month's F1 Racing, which had details of all the monies paid to drivers by teams.

Michael earns over $50m, but that's not what he gets paid by Ferrari (that figure is closer to $30m). He makes a lot from personal sponsorship, advertising and endorsements.
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$30 million a year! :eek:

If only I could be bothered to drive an F1 car around...
 
Originally posted by Eddy
$30 million a year! :eek:

If only I could be bothered to drive an F1 car around...
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Yes - I'm sure that's all that's holding you back.

Me - I could never be associated with tobacco sponsorship. That, and I'm crap.
 
At the other end of the scale, Justin Wilson is earning $75,000 this year, but this is not typical. Most back-of-the-grid F1 drivers in recent years have made at least $1-2m a year.

The only thing stopping me driving for Ferrari at $30m is that my current employer would frown on me moonlighting. ;)
 
Don't forget that some drivers pay to be in F1, and their only reason in F1 is to pay for a struggling team.

Alex Yoong was an example last year; certainly Enrico Bernoldi was one last year as well. I'm not too sure about the Class of '03, though.

Heck, I'd drive an F1 car for a year on a U.S. minimum wage ($5.15/hr) if the team took care of all my insurance, flights, food, lodging, a dozen free race passes, etc. I doubt if Kathy would go for that, though.

Salaries in F1 followed the direction of other professional sports; around 1990 or so, Ayrton Senna was demanding ~$1million a race (16mil/year); in the mid-80's it was $3 million a year for the likes of Prost and Piquet. Lauda made about $1 million a year in 1982 or so.

In the mid-70's, $200,000-$300,000 was a superstar driver; and so it gets less and less as it gets older. Estimates were that in the 1950's, you made about $20K-$50K as year as a professional race driver; and that meant more races (sports-cars, touring cars, non-championship events, etc.)
 
Originally posted by pupik
Don't forget that some drivers pay to be in F1, and their only reason in F1 is to pay for a struggling team.
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It's not quite that simple. Someone like Bernoldi would bring a budget to the team, but this is not usually their own money but that of a sponsor.

The team receives that money and then pays the driver with some of it, usually quite generously.
 
Well, the team will put a price on the drive, and it's up to the driver to raise the price plus their wage from sponsorship.
 
I read an old article at www.atlasf1.com (a reprint from early-1967) on Bob Anderson.

Mr. Anderson was a bike racer who turned his attention to 4 wheels after considerable success. He entered his own year-old car, and used an old engine. He and his wife were the only permanent members of the team. He hired a couple of mechanics on a racer-to-race basis; mainly doing it just for the fun and thrill of it. The only money he ever won was prize money for finishing well, and the starting money if he qualified.

Thus: Bob Anderson's salary = $0.

Those were different times, but I thought it might put a few things into perspective. He was definately one of the last privateers in F1. Amazing that anyone could do it even then...
 
I think jacques villenueve is the second highest paid driver. He signed a contract with BAR years back. That is why there is hostility within the team. They want him to take a pay cut.

I may be wrong, but I also heard button was making $20m a year. Maybe it was back at renault.

I dont agree with all of this greed. If I were a driver I would not demand that much. If I was making enough that I could still get by, I would also not associate with sponsors just for money. Only if I truly like their product, no way I would go with tobacco sponsors. Once you are earning around a couple million, the possibilities for investments are endliess. Give me 1 million and I will find a way to make 10million out of it.
 
Originally posted by advanR
I think jacques villenueve is the second highest paid driver. He signed a contract with BAR years back. That is why there is hostility within the team. They want him to take a pay cut.
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This is true. I think he's on around $15m.

Originally posted by advanR
I may be wrong, but I also heard button was making $20m a year. Maybe it was back at renault.
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This is not true, and not by a long shot! I think his salary over the next four years goes $4m, $5m, $7m, $7m. This is to do with his two years + two years (option) deal. He was probably on $2m at Renault!

Originally posted by advanR
I dont agree with all of this greed. If I were a driver I would not demand that much. If I was making enough that I could still get by, I would also not associate with sponsors just for money. Only if I truly like their product, no way I would go with tobacco sponsors. Once you are earning around a couple million, the possibilities for investments are endliess. Give me 1 million and I will find a way to make 10million out of it.
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That, unfortunately, is easy to say, and principally because you're not in the F1 scene. Driver salary is not about their actual deservedness, but more about their position in the market place. Therefore, Michael Schumacher is not worth $30m, but he is clearly worth significantly more than the next guy, especially when you consider the circumstances that surrounded him joining Ferrari.
 
Alright, I didnt think the jenson numbers were correct. Maybe it was $23m for the whole 4 years.

And yes I know its easy to say. Maybe I would go along with the huge salary business just to have a position in comparison to other drivers, but I would try my best to pick sponsors I like.
 
good quote, but it is supposed to be "in motorsports". If you can make it to f1, you will likely have your life set out anyway.
 
sports illustrated said Michael Schumacher makes 25,000 for every racing mile....and i lost the mag so i forget how much a year. he's in contention w/ how much tiger makes... 80 mil? i forget, somethin like that though
 
Um. I read somewhere recently that he gets paid 25 million pounds from Ferrari right now and that they will be raising that pay check to 30 million pounds (41 million US dollars) when his contract ends to get him to stay with them until the end of his carrier. I dunno where you got the 80 million from though.. I could be wrong.
 
Both the $80m and £25m figures may be correct. This is because what he is paid by the team accounts for only a fraction of his actual earnings. The rest is made up from personal endorsements, a bit like those enjoyed by Tiger Woods.
 
Schumacher has a very shrewd manager in Willi Weber, the amount of merchandise he sells is amazing even stuff for other drivers like mini replica helmets for example they are part of the Schumacher collection.
my wife has just downloaded from kazaa a tune called schumacher F1 a sort of German rave tune with F1 car noises mixed in:lol: :lol: you can imagine what its like:embarrassed: ;)
 
Originally posted by liquidyellow
you can imagine what its like:embarrassed: ;)
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Ladies and gentlemen: I'll open the bidding at "Total Toilet" :lol:

Willi Weber: "Mr 20%". Footed the bill for Michael's first couple of years in single seaters. I think that that's worked out to be a fair investment for him...
 
millions of dollars for a driver. 10where did all this money come from 2) what do they buy. i thought i had it made with my $A8.20 an hour working at the movies ($a8.20 is worth nothing in america or england :()
 

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