How Much do Formula 1 Drivers Get Paid?
by: Caitlyn Ng
If you ever thought that Formula 1 is unquestionably a sport and you're willing to defend it from the other people who are fans of football / basketball / etc, you're probably an avid fan. Humans have loved the thrill of speed and the dangers that come with it just add to the allure; that's what these F1 drivers have to contend with. But this sport requires a constant risking of their lives for the thrill of the race so it's only fair that they are adequately remunerated for it. But how much exactly is an F1 driver paid?
Formula 1 driver can expect to be paid based on how well their names are known outside of the F1 scene, as it would mean they have the star quality and the power to attract their fans to watch the sport. This is essentially what determines the amount they can be expected to earn. The amount that one driver earns can be very different from what the others are earning. In the top tier, some of the drivers can command a hefty paycheck, up to RM91 million per year whereas the lowest paid driver "only" brings home about RM684,000 (that's still a lot of dough in my books!) per year. Let's take a look at what some of the seasoned drivers who have a string of victories under their belts are paid.
Do take note that the figures below are just reflective of the drivers' salaries only and do not include sponsorship deals which can be worth millions more dollars.
The 5 Highest Paid F1 Drivers
5) Nico Rosberg (~ RM50 million / year)
Born in Wiesbaden, West Germany, Nico Rosberg is the son of the 1982 Formula One World Champion Keke Rosberg (who is of Finnish descent) and his wife Sina (who is of German descent). Rosberg holds dual nationality in these two countries but is currently racing under the German flag in F1. This is due to a ruling in the sport, as for all FIA world championships, that a driver's nationality is defined by his passport. In 2002, he became the youngest person at age 17 to drive a Formula 1 car after he earned himself a test session with Williams. Currently, he earns approximately RM50 million per year.
4) Sebastian Vettel (~ RM73 million)
Sebastian Vettel is amassing victories at such a rapid pace that it's hard to keep up: the youngest triple world champion, the most pole positions in a season and the greatest haul of championship points in a single campaign, to name but a few. Born in Heppenheim, then West Germany, to Norbert and Heike Vettel, he races under the German flag as well. His three childhood heroes all bore the first name "Michael": Michael Schumacher, Michael Jordan, and Michael Jackson. Vettel got his first taste of F1 in 2006 when he became the third driver for BMW Sauber at the Turkish Grand Prix. He brings home a paycheck of about RM73 million a year.
3) Jenson Button (~ RM73 million)
"Cute as a button" is definitely not the term to describe this F1 driver standing at 6ft tall! Born in Frome, Somerset and raised by his mother when his parents (former Rallycross driver John Button and his wife, Simone Lyons) divorced, Jenson Button first started karting when he was eight and had an early success. He then went on to become Britain's youngest ever F1 driver when in 2000, he had his debut with Williams, and scored twelve points to finish eighth in the standings. He was also named one of the "Men of the Year" in both 2009 and 2011 by Top Gear. He commands the same paycheck as Sebastian, approximately a cool RM73 million a year.
2) Lewis Hamilton (~ RM91 million)
Lewis Hamilton has often had the label of being the first "black driver in Formula One", although there was another man (Willy Ribbs) who had tested a Formula One car in 1986. In addition, he is technically of a mixed background where his father (Anthony Hamilton) is a black British and his mother (Carmen Larbalestier) is a white British. Born in Stevenage, Hertfordshire, he first started off in the Formula 1 scene with McLaren back in 2007 when he was partnered with the then-defending double World Champion, Fernando Alonso. He went on to become to first ever Briton, since John Watson in 1983, to win an F1 race in the USA. Hamilton is currently earning approximately RM91 million per year.
1) Fernando Alonso (~ RM91 million)
We finally come to the number one spot on this list, which coincidentally ties with the number two spot in terms of paycheck per year, although it's no secret that this person was not on speaking terms with Hamilton at one point. Fernando Alonso, born in Oviedo, Asturias in northern Spain, had a very early start in the world of racing when he began karting at the tender young age of three. His father, José Luis, was an amateur kart racer who wanted his children to share his passion. From there, Alonso joined the F1 scene in 2001 when he made his debut with the Minardi team at the Australian Grand Prix. By the year 2013, he had taken over the record on the list of "most championship points in his career", surpassing Michael Schumacher.
* Caitlyn Ng is an Investigative Journalist of SaveMoney.my, an online consumer advice portal which aims to help Malaysians save money through smart (and most of the time painless) savings in their daily banking, technology, and lifestyle spending habits.
