F1 driver salary: what the official data shows
Formula 1 drivers are among the highest-paid athletes in the world, but when it comes to Australian salary data, there is no official figure for an F1 driver salary. The Australian Bureau of Statistics (ABS) does not list Formula 1 driver as a separate occupation in its earnings surveys, and Fair Work does not set a minimum wage or award rate for the role. This means that anyone looking for a precise, government-backed number will not find one.
Instead, the best we can do is compare what we do know: the national full-time average, the medians, and the minimum wage. These benchmarks help put any reported F1 salary into perspective, even if the exact figure remains private.
The national full-time average as a line in the sand
The ABS Average Weekly Earnings survey for May 2026 gives the full-time adult ordinary-time average at $2,083.70 per week, or about $108,352 a year (multiplied by 52). This is the figure this site uses as the line. Men's full-time ordinary-time average is about $113,412 a year; women's is about $100,594. These are averages, not medians, and they include all full-time adult employees across all industries.
An F1 driver's salary – even a rookie or a lower-tier driver – is almost certainly many times higher than this average. The question is not whether they are above the line, but how far above. Without official data, we cannot say exactly how far, but the gap is enormous.
Medians give a different picture
The ABS Employee Earnings and Hours survey (August 2025) reports a full-time median of about $90,532 a year and an all-employees median of about $74,100. These medians are less influenced by extreme high earners than the averages are. Even so, an F1 driver's pay would sit far above both medians. The median is a better guide for typical workers; F1 drivers are anything but typical.
The minimum wage as a floor
From 1 July 2026, the national minimum wage is $26.44 per hour, which works out to $1,004.90 per week or about $52,255 a year on a 38-hour week. Award minimums rose by 4.75% at the same time. F1 drivers are not covered by any award, and their contractual rates would be vastly higher. The minimum wage is relevant only as a legal baseline for employees – and most F1 drivers are likely contractors, not employees under Australian law.
What would move an F1 driver's pay above or below the average?
For most occupations, factors like industry, experience, location, and bargaining power determine whether pay sits above or below the national average. For F1 drivers, the dynamics are completely different:
- Team and performance: A driver for a top team (Red Bull, Ferrari, Mercedes) earns far more than one at a backmarker team. Performance bonuses, win bonuses, and championship clauses can multiply base salary.
- Contract structure: Many F1 drivers are paid through parent companies in tax-friendly jurisdictions, not as Australian employees. This makes direct comparison with Australian employee earnings misleading.
- Endorsements and image rights: A large portion of an F1 driver's income often comes from personal sponsors and image rights, not salary. These are not captured by any Australian earnings survey.
- Residency and tax: An Australian resident F1 driver would pay tax on their worldwide income under the 2026–27 rates: nil to $18,200, 15% to $45,000, 30% to $135,000, 37% to $190,000, and 45% above that, plus the 2% Medicare levy. But many drivers are not Australian residents for tax purposes.
State averages as a reference
If an F1 driver were based in Australia, their location might affect cost of living but not their pay. The state full-time averages from the ABS (May 2026) range from about $96,008 in Tasmania to about $119,090 in the Australian Capital Territory. Even the highest state average is a fraction of a typical F1 salary.
Where to find more context
For a broader view of how different occupations compare, see Job medians and Industry medians. You can also Place a salary on the line to see how any figure stacks up against the national average. For details on how the ABS calculates these figures, visit How the figures are set.
The bottom line
There is no official Australian F1 driver salary figure. The occupation is not captured by the ABS or regulated by Fair Work. What we can say is that any reported F1 salary would be far above the national full-time average of about $108,352 a year, the full-time median of about $90,532, and the minimum wage of about $52,255. The exact amount remains a matter of private contract, not public statistics.