How Much Do F1 Esports Drivers Get Paid?
Contents
A look at how much F1 Esports drivers can expect to earn in prize money, salaries, and sponsorships.
Salaries of F1 Esports drivers
F1 Esports drivers are some of the highest-paid Esports athletes in the world. The average salary for an F1 Esports driver is $500,000. However, the top drivers can earn up to $1 million per year. The salaries of F1 Esports drivers are determined by their sponsors, team, and results.
Base salary
The base salary for an F1 Esports driver can range from $50,000 to $200,000. The amount they are paid depends on the team they are with, their results, and their social media following. The top drivers in the world can earn up to $500,000 when you include prize money and sponsorships.
Prize money
F1 Esports drivers can earn prize money from their constructor if they finish in the top 10 of the Driver’s Championship. The prize money is split among the top 10 drivers, with the winner taking home $200,000. The runner up earns $100,000, while the third-place driver receives $50,000. Drivers in fourth to tenth place each take home $25,000.
Endorsements
In addition to the prize money that drivers may win, they are also able to receive endorsements from companies. These can range from partnerships with energy drink companies to clothing brands and even gaming peripheral manufacturers.
The amount that a driver can earn from endorsements will vary depending on how successful they are and how marketable they are to businesses. For example, a driver who wins a lot of races is likely to be more attractive to companies than one who doesn’t win as often. Similarly, a driver with a large social media following is also likely to be more attractive to sponsors than one with a smaller following.
As an example, Lewis Hamilton, one of the most successful drivers in F1 history, earned an estimated $10 million from endorsements in 2020. This was on top of the $40 million he earned from his salary and prize money.
How F1 Esports drivers are paid
F1 Esports drivers are paid by the team they represent in the F1 Esports Pro Series. The team pays the driver an annual salary, as well as a percentage of any prize money the team earns in the Pro Series. The driver may also be given a bonus by the team for winning races or finishing in the top three in the championship.
By the team
F1 teams will pay their esports drivers an annual salary, which will be determined by a number of factors including the driver’s results, social media following and public engagement. In addition to their salary, drivers will also receive a percentage of any prize money their team wins in the F1 Esports Pro Series.
By the race organizers
The race organizers are the ones who sign the esports drivers to their respective teams. The race organizers also set the prize money for each race. The amount of prize money varies, but it is generally around $5,000 per race. The top three finishers of each race earn prize money, with the winner earning the most. For example, in the 2018 Formula 1 Esports Series, the winner of each race earned $2,500, while the second-place finisher earned $1,500 and the third-place finisher earned $1,000.
By sponsors
F1 teams are paid by sponsors who wish to have their logos seen on the cars, and by the FIA, the sport’s governing body, which share the annual television rights income with them. The bigger and more successful teams, such as Mercedes and Ferrari, have more sponsors and therefore earn more money.
Income from sponsors is not just a lump sum paid at the beginning of the season. It is made up of two parts: a yearly fee, which is paid regardless of how well the team does in races, and a performance-related bonus, which is paid if the team meets certain targets. These targets are usually set by how many points the team scores in races and by how often its cars finish in the top 10.
F1 Esports drivers’ salaries compared to real-life F1 drivers
F1 Esports drivers are some of the highest-paid athletes in the world, with salaries in the six-figure range. In comparison, the average salary for a real-life F1 driver is only around $5 million. That’s a difference of $95 million! So, how do the salaries of F1 Esports drivers compare to their real-life counterparts?
Lower salaries
While F1 drivers in the real world can earn salaries in the millions, with some commanding annual fees of $50 million or more, F1 Esports drivers earn a lot less.
The average salary for an F1 Esports driver is around $200,000, although some drivers can earn more depending on their results and the sponsorship deals they have in place. To put that into perspective, the starting salary for a real-life F1 driver is around $250,000.
So while F1 Esports drivers are paid well compared to the average person, they are not on anywhere near the same level as their real-world counterparts when it comes to earnings.
Higher salaries
While the top F1 drivers in the world can earn up to $40 million a year, with the average being around $10 million, an F1 Esports driver can make a comfortable living without ever getting behind the wheel of a real car.
The best F1 Esports drivers in the world can earn up to $200,000 a year from prize money, sponsorships, and appearance fees. That might not sound like much compared to what real-life F1 drivers earn, but it’s a massive increase from what esports athletes in other disciplines make.
While there is no doubt that real-life F1 drivers are paid more than their esports counterparts, the gap is not as large as you might think. When you factor in all forms of income, including endorsements and partnerships, some of the top F1 Esports drivers are earning close to $1 million a year.
Conclusion
F1 Esports drivers are some of the highest paid professional gamers in the world. The top drivers can earn up to $200,000 per year from salaries, prize money, and sponsorships. However, the majority of F1 Esports drivers make between $25,000 and $75,000 per year.
