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.
- UPS sees drivers make more than nearly any other trucking company within the same field, making many consider it to be perhaps the top-tier delivery-oriented company that a truck driver can work for. To this point, many drivers report an annual salary that sees an average of $63,668.
- Bureau of Labor Statistics (the BLS) reports that the average annual wage for tractor-trailer truck drivers was $45,570 as of May 2018, the most recent data available. That’s up from $43,590 two years earlier. Since 2006, when the average annual wage was $36,320, the average annual salary for truck drivers has risen 20 percent.
- Becoming a famous NASCAR driver is a dream of many kids now motoring around in go-karts. Top drivers earn millions of dollars in salary, bonuses from wins and sponsorship of products. Hopeful drivers can count on spending a lot of their own money, and many hours on short, dirt tracks before racing on the asphalt at a 2 1/2 mile NASCAR super track.
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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. Koninklijke gazelle n.v driver downloads. Meanwhile, Alfa Romeo’s Antonio Giovinazzi ranks at the bottom of the list with a salary of $500,000.
Read More –REVEALED: The Staggering Amount Lewis Hamilton Earns Through Instagram
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).
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.
Here’s a list of the 2020 grid’s salary table:
- Lewis Hamilton, $47 million
- Sebastian Vettel, $35 million
- Daniel Ricciardo, $20 million
- Max Verstappen, $16 million
- Valtteri Bottas, $9 million
- Charles Leclerc, $9 million
- Kimi Raikkonen, $6 million
- Carlos Sainz, $4.5 million
- Sergio Perez, $4 million
- Esteban Ocon, $4 million
- Romain Grosjean, $2 million
- Kevin Magnussen, $2 million
- Alex Albon, $2 million
- Lando Norris, $1.5 million
- Lance Stroll, $1.5 million
- Pierre Gasly, $1 million
- Daniil Kvyat, $750,000
- George Russell, $750,000
- Nicholas Latifi, $750,000
- 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.
A pay driver is a driver for a professional auto racing team who, instead of being paid by the owner of his car, drives for free and brings with him either personal sponsorship or personal or family funding to finance the team's operations. This may be done to gain on-track experience or to live the lifestyle of a driver in a particular series when one's talent or credentials do not merit a paying ride. Alternatively, said person is also called a ride buyer or a rich kid in the United States, a gentleman driver in sports car and GT racing and a privateer in Australia.
Pay drivers have been the norm in many of the feeder series of motorsport, particularly in Formula 2, Formula 3, NASCARXfinity Series, and Indy Lights. However, there have been many pay drivers in top level series like Formula One, Champ Car, IndyCar Series, and the NASCAR Cup Series.
Formula One[edit]
At one time F1 regulations regarding the changing of drivers during the course of a season were extremely liberal, which encouraged some teams to recruit a string of pay drivers to drive their cars, sometimes only for one or two races. Frank Williams Racing Cars (the predecessor to Frank Williams and Patrick Head's highly successful Williams F1 team) were particularly prolific with regard to the number of drivers they would use in a season - ten drivers drove for the team in both 1975 and 1976. Because of this the rules on driver changes were subsequently tightened.
Teams willing to accept pay drivers are often at the back of the grid and struggling financially. While a pay driver often brings an infusion of much needed funding, their terms often require share ownership and/or influence in the team's operations. This dependence can also be harmful, should a pay driver leave the team then this could leave the team unable to replace the funding linked with that driver, as previous poor results could make finding a sponsor difficult. One case involved the collapse of the Forti team after wealthy Brazilian driver Pedro Diniz left Forti and moved to Ligier after the 1995 season; Forti withdrew from Formula One after the 1996 German Grand Prix.
Former Formula One drivers Ricardo Rosset and Alex Yoong were notorious for how much money their families spent to finance their F1 racing careers. They or other pay drivers like Giovanni Lavaggi and Jean-Denis Délétraz are usually associated with poorer performances compared to those with paid drives. Diniz was backed by his family, but throughout his career he managed to score some decent results compared to the other pay drivers of the age, scoring 10 championship points over six years (two fifth-place finishes and six sixth-place finishes, when only the top six drivers scored points, unlike the later eight and ten of today; he would have 26 points-scoring finishes using the system introduced in 2010), when many other pay drivers did not score any.
However, many successful drivers, such as multiple F1 world champions Niki Lauda,[1]Michael Schumacher and Fernando Alonso,[2] also started their careers as pay drivers but gradually worked their way up the racing ladder. Niki Lauda borrowed money against his life insurance to secure drives in Formula 2 and Formula 1 before impressing enough to have his debts cleared by BRM and then Ferrari.[1] With the exception of Lauda, it is to be noted that they were regarded as highly talented and promising drivers before their F1 careers commenced, and were funded by manufacturers rather than family money or companies with no racing interest.
In recent years, two particular teams that notoriously made headlines for hiring pay drivers were Racing Point and Williams. After Racing Point was purchased by a consortium led by Lawrence Stroll, his son Lance took over one of the team's seats in 2019.[3] Williams, who regularly struggled to attract funding, hired Formula 2 racer Sergey Sirotkin in 2018 to pair with Stroll; the move raised doubts from critics due to Sirotkin's inexperience compared to the popular Robert Kubica, prompting team principal Claire Williams to denounce the pay driver label as 'unfair'.[4][5] Kubica himself was then labelled with the tag when he took over from Siroktin as his own seat was funded by a large sponsorship deal from Orlen.
Although occasionally pay driver are amongst labelled as 'unworthy' for an F1 ride, many of the pay drivers in F1 today come with occasional success in their individual races in lower formulas. Sergio Pérez, Pastor Maldonado, Marcus Ericsson, Felipe Nasr, Esteban Gutiérrez, Rio Haryanto, Will Stevens, Jolyon Palmer, Lance Stroll, and Nicholas Latifi are all race winners during their times at the feeder series with Pastor Maldonado and Lance Stroll winning GP2 and F3 European Championship respectively. Maldonado would cement his place in Formula One history with a win at the 2012 Spanish Grand Prix as the first Venezuelan to win in F1 with what became the only pole, podium, and win of his career. It was also the first win for Williams since 2004 and, to date, their latest victory. Pérez would finally be victorious in F1 with his win at the 2020 Sakhir Grand Prix.
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Other series[edit]
Some sanctioning bodies will offer champions of lower tier series a well-funded ride for the next tier. The Road to Indy programme from INDYCAR awards a ride fully funded by Mazda for a series champion in the next tier. A $150,000 and tires package is available to a shootout winner among an invited group young American and foreign drivers. A driver who wins the U.S. F2000 National Championship will win $300,000 to be used for a 'pay ride' in the Pro Mazda Championship, and two sets of tires per race. Pro Mazda winners will be paid for a ride in Indy Lights, and the Indy Lights champion earns funding to compete in at least three IndyCar Series races, including the Indianapolis 500.
Pay drivers are also common in stock car racing and are very prevalent in development series such as the Xfinity Series and ARCA Racing Series. There are also several pay drivers competing at the Cup level including Matt Tifft and Paul Menard, the son of home improvement tycoon John. Menard had some success with a victory at the Brickyard 400 in 2011 and a Chase for the Sprint Cup appearance in 2015, while medical issues halted Tifft's racing career in 2019. Pay drivers were controversial in stock car racing if payments failed; an example would be in 2015, when Kyle Busch's Camping World Truck Series team, Kyle Busch Motorsports, sued former driver Justin Boston, a pay driver, and the sponsor for missed payments.[6]
There has also been a long history of pay drivers in Australian touring car racing. Historically referred to as 'privateers', these people usually consisted of do-it-yourself businessmen looking to promote their companies through racing – the concept peaking in the late 1990s with the birth of the V8 Supercars and the creation of a Privateers Cup. This series eventually branched off and became the Konica Lites Series (now the Super2 Series), with the construct disappearing as the racing became more expensive and professionalised.[7]
References[edit]
Income Driver Toyota
- ^ ab'NIKI LAUDA'. ESPN F1. Retrieved 23 January 2014.
- ^'Demise of pay drivers in Formula 1 - Is it a good thing ?'. F1 Wolf. May 31, 2008. Archived from the original on 2008-06-04.
- ^Rencken, Deiter; Collantine, Keith (18 March 2019). 'Racing Point believe 'gutsy' Stroll will get more credit'. Racefans.net. Retrieved 6 March 2020.
- ^Jeffries, Tom (29 January 2018). 'Formula 1's Pay Drivers – Are They Really That Bad?'. The Checkered Flag. Retrieved 6 March 2020.
- ^Cooper, Matt (16 February 2018). 'Williams F1 launch: Team slams 'pay driver' jibes over Sirotkin'. Autosport. Retrieved 7 March 2020.
- ^Pockrass, Bob (August 26, 2015). 'Kyle Busch Motorsports suing former driver Boston, company Zloop'. ESPN. Retrieved September 20, 2015.
- ^'Privateer Falcon Supercar finds new home'. V8 Sleuth. 3 September 2018.
External links[edit]
- Pay as you go, go, go: F1's 'pay drivers' explained BBC. Andrew Benson.