13 replies to this topic

[Bob Nomates]

ITV reported on a list published in a European business
magazine recently containing the basic salaries of the
Formula One drivers.

An enormous gap exists between the top paid and the second,
third and fourth highest paid drivers with Michael Schumacher's
basic salary at 19.1 million pound compared to BAR driver,
Jacques Villeneuve's, Mika Hakkinen and Eddie Irvine's 6.3
million pound.

The top six is rounded off with Ralf Schumacher on 3.8 million
pound followed by Rubens Barrichello in sixth place earning 3.5
million.

The rest of the field was given as follows:

7 Giancarlo Fisichella £2.5m
8 Heinz-Harald Frentzen £2.2m
9 Jarno Trulli £2.0m
10 Jean Alesi £1.9m
11 David Coulthard £1.7m
12 Ricardo Zonta £1.7m
13 Mika Salo £1.5m
14 Alex Wurz £956,000
15 Johnny Herbert £796,000
16 Nick Heidfeld £637,000
17 Jenson Button £191,000
18 Jos Verstappen £159,000
19 Marc Gene Nil
20 Gaston Mazzcane -£1.2m
21 Pedro Diniz -£5.0
22 Pedro de la Rosa -£5.0

[MrAerodynamicist]

-£5.0

For five pounds i could be a GP driver? Where do I sign up

Seriously. Are those zeros and negitives really accurate. Okay, overall the team will get X amount off money but thats really from the drivers' sponsors not the driver. Their actual wage would be anything that they get paid themselves from their sponsors. I suppose the exception is Diniz where the sponsorship is from a family business.

[MattC]

Does anyone know what kind of income the drivers are getting from their personal sponsors? I'd be surprised if Mr Button's total income this year is less then 1/4mill.

One thing I would really like to know is:
what are the salaries like for drivers in the lower formulae?
And even more interesting, how many racing drivers are there in, say, the UK, earning a decent living behind the wheel. Let's say >£30K/year (completely arbitrary choice!).
I presume that most racing drivers in the country earn most of their living by moonlighting, e.g. race school instructors, selling cars, whatever, or they have 'proper' jobs with which to fund their 'hobby'!

[MrAerodynamicist]

Interestingly, the Inland Revenue in the UK actually recognise being a racing driver as a short term career and you are intitled to take retirment with all its benefits at the age of 40!!

[RedFever]

interesting how Fisichella is paid more tha HHF and Coulthard. I guess talent is obvious to team managers even when the driver can't win because of his car.

[Clatter]

Do those figures include win bonuses etc.??

That could explain the Fisi DC difference. Coulthard is far more likley to get a few win bonuses.

[nhbrian]

I thought Diniz has been getting paid to drive for Sauber for the last year or two.

[whit]

Don't forget there is a difference between a driver paying to drive and bringing sponsorship money. Diniz brings sponsorship money ($10 million ?) and also gets a salary to drive. He may not be the best driver, but if Sauber got rid of him they'd lose the sponsorship. I guess they figure $10 million and Pedro will make more speed than a better driver would. Without the developement the sponsorship money buys, the car would be worse and a better drive would do less with it. Interesting choices and compromises.

[EKB]

I'm curious how some of these numbers were derived. They list Diniz and de la Rosa has being in the negatives. Obviously, they bring in considerably more sponsership money then they receive in salary. But I thought that most drivers bring some sort of personal sponsership money ie JV with Teleglobe. Is this factored into all the drivers salaries?

Coulthard has to be the one of the best bargins. Any idea how much he gets for winning a race?

Cheers,

EKB

[Vicster]

Maybe Martin Brundle should stop raving about DC during the race and rave about him to Ron. He's obviously not doing a good job for DC's pocketbook. DC deserves more.

[Nathan]

Well not sure how much this counts now, but the Canadian National Post released these year 2000 figures in US $$...(bonuses and endorsements not included)

M. Schumacher $30.6-million
E. Irvine $10.1-million
M. Hakkinen $10.0-million
J. Villeneuve $10.0-million
R. Schumacher $6.1-million
R. Barrichello $5.6-million
G. Fisichella $4.0-million
H. Frenzten $3.5-million
J. Trulli $3.2-million
J. Alesi $3.1-million
D. Coulthard $2.7-million
R. Zonta $2.7-million
M. Salo $2.4-million
A. Wurz $1.5-million
J. Herbert $1.3-million
N. Heidfeld $1.0-million
J. Button $306,000
J. Verstappen $250,000
M. Gene $0
G. Mazzacane -$1.9-million
P. Rosa -$8-million
P. Diniz -$8-million

Im Pretty sure however Villeneuve makes closer to $14.2-million and Mika around $15-million.

[Nathan]

Also an interesting not. DC's salary has only gone up $150,00 since first signing with McLaren in 1996.

Im sure he has performance bonuses though.

[Ray Bell]

Originally posted by MrAerodynamicist
Interestingly, the Inland Revenue in the UK actually recognise being a racing driver as a short term career and you are intitled to take retirment with all its benefits at the age of 40!!

Does this hark back to the days when most drivers didn't see 40?

And what of the contract terms... do drivers have to pay their own air fares to the meetings, run their own Lear Jets out of their measly allowances?
That could help with their tax problems.

[Darren]

Because of the peculiarities of the Australian taxation system, some forego income for company payment of a motor vehicle - it's called salary sacrifice. I wonder if Michael could claim the Ferrari at tax time. It's a slightly misleading set of calculations, because no driver at this level is there without sponsorship and the personal income figures are partly calculated on sponsorships and endorsements as well as team payments. And then there are the associated business interests to include in assessing individual wealth. Before Gerhard Berger was heading up BMW's F1 program, he was a truck driver - well, he owned a trucking company and used to drive rigs every now and then.