What is the salary gap between F1 and IndyCar drivers? Comparing the top 5 highest-paid drivers in both racing series

Both the IndyCar drivers and F1 drivers put their lives on the line every time they step into the racecar and use their skills in an attempt to finish first. However, there is a disparity of tens of millions of dollars in how much the F1 driver makes compared to that of the IndyCar drivers.

All the drivers in any racing series aren't paid the same amount, and compensation varies depending on experience, past results, potential, the team's budget and other factors. Nonetheless, there is a significant gap in the salaries of F1 and IndyCar drivers.

Let's have a look at the Top 5 highest paid drivers in F1 and IndyCar and find the salary gap between the two.

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#5 Charles Leclerc ($27M) vs Marcus Ericsson ($3M)

Charles Leclerc signed a multi-year contract with Ferrari at the start of the 2024 F1 season. Reports suggest that the Monegasque signed a four-year deal, but no official confirmation was released. Leclerc reportedly made $27M during the 2024 F1 season, $15M as a base salary and $12M as a bonus.

NTT IndyCar Series GMR Grand Prix - Source: Getty

Marcus Ericsson left Chip Ganassi at the end of 2023 and signed with Andretti for 2024. The Swedish driver reportedly signed a contract in the ballpark of $3M per year. The details of the contract weren't officially revealed.

#4 Fernando Alonso ($27.5M) vs Kyle Kirkwood ($3.5M)

Fernando Alonso signed a new contract with Aston Martin midway through the 2024 season that will see him race at the Silverstone team until the end of the 2026 season. The Spaniard reportedly earned $27.5M during the 2024 F1 season, $24M as base salary and $3.5M in bonuses.

F1 Grand Prix of Abu Dhabi - Source: Getty

Kyle Kirkwood signed a contract extension with Andretti in 2023 which saw him earn a reported $3.5M during the 2024 IndyCar season.

#3 Lando Norris ($35M) vs Scott Dixon ($3.5M+)

Lando Norris finished as the runner-up in the 2024 F1 Championship. The Brit signed a contract extension with the team at the start of the 2024 season which saw the McLaren driver get $35M a year, $12M as base salary, and $23M in bonuses.

FIA Awards 2024 - Source: Getty

Scott Dixon’s last reported salary was $3.5M in the year 2021. Back then, Dixon was the highest-paid driver on the IndyCar grid. He signed a multi-year extension with Chip Ganassi in 2023, which is reported to be around the same amount as his last contract in the $3.5M-$4.5M range.

#2 Lewis Hamilton ($57M) vs Pato O'Ward ($5M)

Seven-time F1 champion Lewis Hamilton signed a 1+1 contract with Mercedes in 2023. The Mercedes driver earned $57M during 2024, $55M as base salary and $2M in bonuses. He was the highest-paid driver before Max Verstappen took the spot. The Brit signed with Ferrari for 2025 and will reportedly earn $100M a year.

Formula 1 Testing In Abu Dhabi - Source: Getty

Pato O'Ward’s salary became public as his contract extension was included in the McLaren lawsuit against Alex Palou. As per the contract, O’Ward signed a two-year extension which would pay him $4M and $4.2M in 2026 and 2027 respectively. However, the Mexican will also receive a $2M bonus as an uplift for the current deal at the end of 2025, making it a $10M contract for two years.

#1 Max Verstappen ($75M) vs Colton Herta ($7M)

Max Verstappen signed a new deal with Red Bull that will see him drive for the team until the end of the 2028 season. The Dutchman won the 2024 F1 championship and reportedly received a massive bonus for the same. Verstappen earned a total of $75M during the 2024 F1 season, $60M as a base salary, and $15M as a bonus.

FIA Awards 2024 - Source: Getty

Colton Herta, on the other hand, received a paddock-altering contract from Andretti. Herta was reportedly being prepared for Andretti's F1 plan, which was put to rest by F1’s rejection. The American is now rumored to be in plans for Cadillac's F1 entry. Nonetheless, Herta was reportedly given a contract by Andretti keeping the F1 move in mind for $7M.

From the comparisons, it is evident that the IndyCar drivers don't get paid as much as the F1 drivers. In fact, looking at the data, the Top 5 highest paid IndyCar drivers make about 10% of their F1 counterparts' earnings.