How much are F1 drivers paid? 2023 salaries revealed

F1 2023 salaries: How much does Lewis Hamilton and Max Verstappen earn a year?

The 2023 F1 season gets underway this weekend with the Bahrain Grand Prix the first of a record 23 races this year.

Max Verstappen is the favourite after his runaway success last year, while both Ferrari and Mercedes will be hoping to haul in the hefty deficit to Red Bull in 2023.

Verstappen signed a long-term contract last year until 2028 and overtook Lewis Hamilton at the top of the drivers salary charts, while Hamilton’s deal at Mercedes is due to expire at the end of the 2023 season.

While drivers salaries are not released into the public domain by teams, the figures reported in the media are widely used to determine how much the 20 drivers are being paid by their respective teams this season - although that does not include performance-related bonuses or other commercial add-ons.

Here’s the full list of the reported salary figures for F1 drivers in 2023:

How much do F1 drivers earn?

1) Max Verstappen (Red Bull) - £45m

2) Lewis Hamilton (Mercedes) - £29m

3) Charles Leclerc (Ferrari) - £20m

4) Lando Norris (McLaren) £17m

5) Carlos Sainz (Ferrari) - £10m

=6) Sergio Perez (Red Bull) - £8m

=6) Valtteri Bottas (Alfa Romeo) - £8m

8) George Russell (Mercedes) - £7m

9) Esteban Ocon (Alpine) - £5m

=10) Pierre Gasly (Alpine) - £4m

=10) Kevin Magnussen (Haas) - £4m

=10) Fernando Alonso (Aston Martin) - £4m

13) Alex Albon (Williams) - £2m

=14) Zhou Guanyu (Alfa Romeo) - £1.6m

=14) Lance Stroll (Aston Martin) - £1.6m

=14) Nico Hulkenberg (Haas) - £1.6m

=14) Oscar Piastri (McLaren) - £1.6m

=14) Nyck de Vries (AlphaTauri) - £1.6m

=19) Yuki Tsunoda (AlphaTauri) - £800,000

=19) Logan Sargeant (Williams) - £800,000

Click here to subscribe to The Independent’s Sport YouTube channel for all the latest sports videos.