FIA Formula One World Championship began from March 2024 from Bahrain Grand Prix and final race of the season will held in Abu Dhabi Grand Prix on 8 December 2024. The teams have confirmed their first, second, reserve and test drivers for the season. Max Verstappen looking forward to challenge the drivers championship this season with Red Bull F1 team. Lewis Hamilton remains highest paid driver in Formula 1 with contract worth more $60m including bonuses.
| F1 Drivers | Base Salary | Bonuses | F1 Teams | F1 Season |
|---|---|---|---|---|
| Alexander Albon | $2.1m | – | Williams Racing F1 | 2024 |
| Logan Sargeant | $500k | – | Williams Racing F1 | 2024 |
| Sergio Pérez | $10m | $500k | Red Bull Racing F1 | 2024 |
| Max Verstappen | $40m | $5m | Red Bull Racing F1 | 2024 |
| Yuki Tsunoda | $750k | – | RB F1 Team | 2024 |
| Daniel Ricciardo | $5m | – | RB F1 Team | 2024 |
| George Russell | $6m | $1m | Mercedes-AMG Petronas | 2024 |
| Lewis Hamilton | $57m | $5m | Mercedes-AMG Petronas | 2024 |
| Oscar Piastri | $1.5m | – | McLaren F1 Team | 2024 |
| Lando Norris | $10m | $1.5m | McLaren F1 Team | 2024 |
| Valtteri Bottas | $7m | $1m | F1 Team Kick Sauber | 2024 |
| Zhou Guanyu | $700k | – | F1 Team Kick Sauber | 2024 |
| Nico Hülkenberg | $2.5m | $500k | Haas F1 Team | 2024 |
| Kevin Magnussen | $2.2m | $500k | Haas F1 Team | 2024 |
| Oliver Bearman | $400k | – | Scuderia Ferrari | 2024 |
| Carlos Sainz Jr | $12m | $1m | Scuderia Ferrari | 2024 |
| Charles Leclerc | $25m | $2m | Scuderia Ferrari | 2024 |
| Lance Stroll | $3.5m | – | Aston Martin Cognizant | 2024 |
| Fernando Alonso | $10m | $1m | Aston Martin Cognizant | 2024 |
| Esteban Ocon | $2.2m | $1m | Alpine F1 Team | 2024 |
| Pierre Gasly | $3m | $1m | Alpine F1 Team | 2024 |
- Max Verstappen, the three time world champion salary reported to be $40 million and his earnings in F1 season 2024 reached to $45 million if he wins the drivers championship. He is currently second highest paid driver in the Formula 1 season 2024.
- Lewis Hamilton looking forward to challenge Max Verstappen, Charles Leclerc for the F1 title in 2024, Hamilton salary reported to be $57 million a year and if he wins the drivers championship his earnings increased to $62 million which include $5 million winning bonus.
- Charles Leclerc is the third highest paid driver in Formula 1 season 2024, he drives for Ferrari and hold contract worth of $25m in year 2024. He finished 5th on the F1 points table back in year 2023.
- Carlos Sainz Jr listed at fourth position with contract deal worth of $12m a year and if he wins drivers championship or finish among top three drivers at the end of season 2024 of F1, he will earn extra bonus money upto $1m.
- Lando Norris, is the driver to watch in season 2024 of Formula 1, he hold contract deal worth of $10 million with McLaren F1 Team and if he manage to finished in top drivers this season his earnings increased $11.5m based on bonuses.
- Fernando Alonso the two time world champion continue his career in F1 and his reported contract worth of $10 million with Aston Martin Cognizant F1. He is hopeful to challenge Hamilton, Stappen and Leclerc for season 2024.
- Sergio Pérez who finished second on the points table of F1 2023, hold contract deal worth of $10 million in year 2024 he is currently driving for Red Bull Racing F1 team alongside Max Verstappen.
- Logan Sargeant, Yuki Tsunoda, Oliver Bearman and Zhou Guanyu listed among drivers who's contracts are $1m mark in F1 season 2024.
The winning bonuses offered to the only drivers who finished in first three positions of drivers points table at the end of year. The F1 teams offered these bonuses based on drivers salaries package and their consistent performance in F1 season.
Red Bull Racing F1, Scuderia Ferrari, McLaren F1 Team, Mercedes-AMG Petronas are highest paying teams in Formula 1 season these teams hold top budgets for the engineers, team managers and drivers each season.