How much do F1 Team Principals earn 2024? (Full list of salaries)

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Formula 1 is a sport that is shrouded in money. From the lavish lifestyle of the drivers to the team principals and their multi-million dollar salaries, F1 is not a cheap sport to be involved in. 

Team principals are the key people in F1. They are responsible for the day-to-day running of the team, as well as making key decisions on things like strategy and driver lineup. So, how much do F1 Team Principals earn?

In this blog post, we have compiled a list of all the current Formula 1 team principals and their estimated annual salaries.

Watch this video to see how much Formula 1 Team Principals make.

F1 Team principal salaries 2024

Here is a list of all the current Formula 1 team principals salaries in the 2024 season. Be aware that these numbers are estimated.

Team principalTeamSalary
1Toto WolffMercedes$8,000,000
2Christian HornerRed Bull$10,000,000
3Frederic VasseurFerrari$7,600,000
4Andrea StellaMcLaren$7,600,000
5Alessandro Alunni BraviAlfra Romeo (Sauber)$1,000,000
6Bruno FaminAlpine$1,000,000
7Mike KrackAston Martin$1,000,000
8Guenther SteinerHaas$1,000,000
9Laurent MekiesAlpha Tauri$1,000,000
10James VowlesWilliams<$1,000,000

Table of Contents

How much do F1 Team Principal earn?

F1 team principals receive a salary anywhere from $1 million to $10 million per year. The amount they earn depends on a number of factors, including the team’s budget, results, and their own experience.

Since team principals are such a vital part of Formula 1, they are paid very well for their services. They are able to command such high salaries due to the important role they play in the sport.

The highest-paid team principal in F1 is currently Christian Horner, who earns an estimated $10 million per year. 

Team Principals can also earn bonuses and other benefits, which can increase their earnings even further.

Key takeaways

Here are the key aspects related to F1 team principal earnings:

  • F1 team principals can make anywhere from $1 million to $17,4 million per year.
  • The amount they make depends on a number of factors, including the team’s budget, results, and their own experience.
  • Team principals are paid very well for their services due to the important role they play in Formula 1.
  • Toto Wolffcurrently the highest paid team principal in F1, with an estimated annual salary of $17,4 million.
Toto Wolff net worth and salary

Toto Wolff's salary and net worth

Toto Wolff is one of the highest-paid team principals in Formula 1, with an estimated annual salary of $8,2 million. He also has a net worth of $580 million.

  • Team: Mercedes
  • Salary (estimated): $8,200,000

Wolff has been instrumental in Mercedes’ dominance in the turbo-hybrid era, showcasing exceptional leadership and strategic acumen.

  • Key Achievements: Under his guidance, Mercedes has clinched multiple constructors’ and drivers’ championships.
  • Background: Wolff’s journey in F1 is marked by his transition from an investor and executive to a team principal, reflecting his deep understanding of both the business and sport of Formula 1.
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Toto Wolff is also entitled to performance bonuses depending on Team Wins, championships, and so on. For example, Toto Wolff will receive a $200,000 bonus for every podium that a Mercedes driver achieves. 

A whopping $17,4 million bonus will be paid to Toto Wolff if Mercedes wins the Formula 1 Championship which is higher than his salary. Read more about Toto Wolff’s salary and net worth.

Christian Horner net worth and salary

Christian Horner's salary and net worth

Christian Horner is the highest paid team principal in Formula 1 currently, with an estimated annual salary of $10 million. Additionally, he has a net worth of $50 million.

Unlike Mercedes’s team chief Toto Wolff, he doesn’t have any ownership stake in Red Bull Racing. Christian Horner is the current team principal of Red Bull Racing. He has been in this role since 2005 and has been highly successful for the team. 

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At the age of 36, Christian became the youngest team manager in Formula One history to win the Constructors’ Championship, thus solidifying his position in the pages of racing history.  

Red Bull has racked up a total of five World Drivers’ Championships as well as four World Constructors’ Championships under Christian Honner and he shows no signs of slowing down. 

Read more about Christian Horner’s salary and net worth.

Frederic Vasseur's salary and net worth

Frederic Vasseur, the team principal of Ferrari, receives an estimated salary of $7,600,000. This figure reflects his significant role and responsibilities at the helm of one of Formula 1’s most prestigious teams.

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Frederic Vasseur is a prominent figure in the world of motorsport, particularly known for his roles in Formula 1. Here’s an overview of his career and achievements:

  1. Early Career and Background: Vasseur’s journey in motorsport began in the lower categories. He co-founded ASM, a French racing team, in 1996. Under his leadership, ASM achieved notable success in Formula 3, winning several championships. This period was crucial in establishing Vasseur’s reputation as a skilled team manager and talent spotter.

  2. GP2 Series Success: Vasseur’s ASM team transitioned into the GP2 Series (now Formula 2) as ART Grand Prix, co-founded with Nicolas Todt. ART Grand Prix became one of the most successful teams in the series, nurturing future F1 talents like Lewis Hamilton, Nico Rosberg, and Jules Bianchi.

  3. Entry into Formula 1: Vasseur’s entry into Formula 1 came with his role at Renault in 2016, where he was appointed as the Racing Director. His tenure at Renault (now Alpine) was a key step in his career, although it lasted only a year due to differing views on team management.

  4. Sauber and Alfa Romeo: In 2017, Vasseur joined Sauber F1 Team as Team Principal and CEO. Under his guidance, the team, which later became Alfa Romeo Racing due to a partnership with the Italian car manufacturer, saw a period of restructuring and improvement. Vasseur was instrumental in forging a strong partnership with Ferrari and securing Kimi Räikkönen for the team, which helped in its development and performance.

  5. Move to Ferrari: In 2023, Vasseur took over as the Team Principal of Scuderia Ferrari, one of the most prestigious and high-profile roles in Formula 1. This position places him at the forefront of Ferrari’s quest to return to championship-winning ways, a testament to his skills and experience in team management and strategy in motorsport.

  6. Management Style and Philosophy: Vasseur is known for his straightforward, no-nonsense approach to team management. He emphasizes team cohesion, clear communication, and the development of a strong technical team. His ability to identify and nurture talent has been a hallmark of his career.

Throughout his career, Frederic Vasseur has demonstrated a keen eye for talent and a deep understanding of team dynamics and strategy in motorsport. His move to Ferrari marks a significant chapter in his career, with high expectations for success in the competitive world of Formula 1.

Bruno Famin's salary and net worth

Bruno Famin, in his role as a key figure at Alpine in Formula 1, receives an estimated salary of $1,000,000. 

As of my last update in April 2023, Bruno Famin was not a widely recognized name in the Formula 1 world, particularly in the context of a team principal or a high-profile position within an F1 team. He is better known for his work in other motorsport categories, especially with the FIA and Peugeot Sport.

Here’s a brief overview of his career and achievements:

  1. Peugeot Sport: Bruno Famin played a significant role at Peugeot Sport. He was instrumental in their endurance racing efforts, particularly in the World Endurance Championship (WEC). Under his leadership, Peugeot Sport developed competitive race cars and participated in prestigious events like the 24 Hours of Le Mans.

  2. FIA Role: Famin moved to a significant role within the Fédération Internationale de l’Automobile (FIA), the governing body for many global motorsport series, including Formula 1. His work at the FIA involved overseeing various aspects of motorsport, contributing to the development and implementation of regulations and standards.

  3. Achievements in Motorsport: While not directly linked to Formula 1, Famin’s contributions to motorsport have been significant, especially in the realm of endurance racing. His expertise in engineering and team management has been crucial in the success of the teams and organizations he has been part of.

  4. Engineering and Technical Expertise: Famin’s background is rooted in engineering, providing him with a deep understanding of the technical aspects of racing vehicles. This technical expertise has been a key factor in his successful career in motorsport management and development.

Laurient Mekies's salary and net worth

Laurent Mekies, in his role at Alpha Tauri, a team in the competitive world of Formula 1, receives an estimated salary of $1,000,000.

Andrea Stella's salary and net worth

Andrea Stella, in his role as the team principal of McLaren in Formula 1, receives an estimated salary of $7,600,000.

Andrea Stella is a prominent figure in Formula 1, known for his technical expertise and leadership within top racing teams. Here’s an overview of his career and achievements:

  1. Early Career and Background: Andrea Stella began his career in motorsport as a race engineer. He is an Italian national and has a background in engineering, which laid the foundation for his technical roles in Formula 1.

  2. Tenure at Ferrari: Stella’s journey in Formula 1 started with Scuderia Ferrari, where he worked for several years. He was initially involved in the team’s test engineering operations before moving on to race engineering. During his time at Ferrari, he worked closely with some of the sport’s top drivers, including Michael Schumacher, Kimi Räikkönen, and Fernando Alonso. His period at Ferrari was marked by a deep understanding of car performance and driver dynamics.

  3. Move to McLaren: Stella joined McLaren in 2015, a significant move that broadened his experience in F1. At McLaren, he initially served in senior engineering roles, contributing to the team’s strategy and performance development.

  4. Promotion to Team Principal: Andrea Stella was promoted to the role of team principal at McLaren, taking over from Andreas Seidl. This position places him at the forefront of the team’s operations, overseeing the McLaren F1 team’s competitive performance, strategy, and development.

  5. Achievements: While specific championship titles as a team principal might not yet define Stella’s career, his contributions to the teams he has worked with are significant. His technical acumen and understanding of race strategy have been crucial in improving team performances and navigating the complex world of Formula 1.

  6. Leadership Style: Known for his methodical and analytical approach, Stella is respected for his ability to manage teams effectively, focusing on data-driven decisions and fostering a positive team environment.

  7. Focus on Team Development: At McLaren, Stella’s role involves not just overseeing the car’s performance but also managing the team’s talent, resources, and long-term strategy. His leadership is seen as pivotal in McLaren’s quest to return to the forefront of Formula 1.

Andrea Stella’s career trajectory in Formula 1, from a race engineer to a team principal, highlights his deep understanding of the sport’s technical aspects and his ability to lead high-performing teams in a highly competitive environment.

Mike Krack's salary and net worth

Mike Krack’s net worth is estimated to be between $1 and $5 million. His salary as team principal of Aston Martin is estimated to be around $1 Million. Krack formerly worked in Formula One for Swiss-based Sauber. 

Mike Krack is the team principal of the Aston Martin Formula 1 team. He joined the team in 2022 after the departure of Otmar Szafnauer.

Aston Martin, owned by Lawrence Stroll, is one of the richest teams on the grid. The team is worth $3 billion, and Stroll has a net worth of $2.9 billion. Given these facts, it is safe to say that Mike Krack is surely going to earn millions if the team performs well under his guidance. Read more about Mike Krack’s salary and net worth

James Vowles's salary and net worth

James Vowles, in his role as the team principal of Williams Racing in Formula 1, receives a salary that is estimated to be less than $1,000,000.

James Vowles is a notable figure in the Formula 1 world, primarily recognized for his strategic expertise and contributions to one of the sport’s most successful teams. Here’s an overview of his career and achievements:

  1. Early Career: Vowles began his career in motorsport with British American Racing, which later became Honda Racing F1 Team. His initial roles were in the engineering and strategy departments, where he developed a strong foundation in the technical and strategic aspects of Formula 1.

  2. Mercedes AMG Petronas Formula One Team: Vowles’ most significant contributions came during his tenure at Mercedes, where he was a key member of the team’s strategy group. He joined Mercedes in 2010, and over the years, he played a pivotal role in the team’s unprecedented success during the turbo-hybrid era that began in 2014.

  3. Role as Chief Strategist: At Mercedes, Vowles held the position of Chief Strategist. In this role, he was instrumental in making crucial race-day decisions, often under intense pressure. His strategic calls were vital in securing numerous race wins and contributing to multiple Constructors’ and Drivers’ Championship titles for the team.

  4. Move to Williams Racing: In a significant career move, Vowles was announced as the Team Principal of Williams Racing, starting in 2023. This position marked a new chapter in his career, taking on the leadership of one of Formula 1’s most iconic teams, albeit one that has faced challenges in recent years.

  5. Leadership and Strategy: Vowles is highly regarded for his strategic acumen and ability to make quick, effective decisions during races. His expertise in race strategy is seen as a key asset in his role as a team principal, where he is expected to lead Williams Racing through a period of rebuilding and improvement.

  6. Mentorship and Team Development: Apart from his strategic role, Vowles is also known for his mentorship and development of team personnel. At Mercedes, he was involved in nurturing the talents of the team’s strategists and engineers, a skill he is expected to continue at Williams.

James Vowles’ career is a testament to the importance of race strategy in Formula 1. His transition from a strategist to a team principal showcases his deep understanding of the sport and his ability to adapt and lead in different capacities within the high-pressure environment of Formula 1 racing.

Alessandro Alunni Bravi's salary and net worth

Alessandro Alunni Bravi, in his role “team boss” with the Alfa Romeo (Sauber) Formula 1 team, receives an estimated salary of $1,000,000.

Guenther Steiner's salary and net worth

As the team principal of Haas, Guenther Steiner’s salary is estimated to be around $1 million. His net worth is estimated to be between $1 and $5 million.

Over his nearly 30-year racing career, Guenther Steiner, team principal of the Haas F1 Team, has accepted this challenge several times. He joined Haas as the team principal in 2014, the same year as the team’s inception. 

Steiner began his career in motorsport as a mechanic and worked his way up the ranks. The team has seen some success under his leadership, but there’s still a long way to go. Read more about Guenther Steiner’s salary and net worth.

Who is the highest paid Formula 1 Team Principal?

The highest-paid Formula 1 Team principal is Christian Horner, the team principal of Red Bull Racing. His annual salary is $10 million.

Horner’s net worth is estimated to be around $50 million. He has been with the team since 2005 and has helped them win five World Drivers’ Championships as well as four World Constructors’ Championships. 

Horner is one of the most experienced team principals on the grid and his wealth of knowledge has helped Red Bull become one of the most successful teams in recent years.

He is also a very hands-on team principal and is often seen in the pit lane giving instructions to his drivers. So, it is no surprise that he is the highest-paid team principal in Formula 1. Red Bull is surely getting its money’s worth out of Horner.

Who is the lowest paid Formula 1 Team Principal?

According to various reports, it is believed that the lowest-paid team principal in Formula 1 is James Vowles, Williams Racing. His annual salary is less than $1 million.

Otmar joined Alpine in 2022 and has since been working hard to try and turn the team around. His efforts have slowly started to pay off as the team has shown some improvement after he joined the team.

However, there is still a long way to go for Alpine and it will be interesting to see how Szafnauer fares in the coming years. Nonetheless, he is one of the most experienced team principals on the grid and is certainly capable of getting the job done. 

You never know, maybe in a few years’ time we could see Szafnauer earning more than $1 million per year. After all, Formula 1 is a highly competitive and demanding sport, so team principals need to be paid well for their efforts.

How much do F1 Team Principals earn compared to drivers and pit crews?

Team principals have a very demanding job. They are responsible for the overall performance of their team and need to make sure that everything is running smoothly.

They also have to deal with the media, sponsors, and other important stakeholders. So, it is no surprise that they are paid well for their efforts.

Now, if we compare the salaries of team principals to F1 drivers and pit crews, we can see that they’re paid more than the pit crew members but less than that drivers. For example, Lewis Hamilton, one of the best drivers in Formula 1, is paid around $40 million per year. And their team principal Toto Wolff is paid $10 million. Read our article about F1 Drivers salaries.

#Read more about the drivers salary and net worthTeamSalary (USD $)Salary (EUR €)
1Max VerstappenRed Bull$55m€51.67m
2Lewis HamiltonMercedes$35m€32.88m
3Charles LeclercFerrari$24m€22.5m
4Lando NorrisMcLaren$20m€19m
5Carlos SainzFerrari$12m€11.27m
6Sergio PerezRed Bull$10m€9.39m
-Valtteri BottasAlfa Romeo$10m€9.39m
8George RussellMercedes$8m€7.5m
9Esteban OconAlpine$6m€5.63m
10Fernando AlonsoAston Martin$5m€4.69m
-Pierre GaslyAlpine$5m€4.69m
-Kevin MagnussenHaas$5m€4.69m
13Alex AlbonWilliams$3m€2.8m
14Lance StrollAston Martin$2m€1.9m
-Nico HulkenbergHaas$2m€1.9m
-Oscar PiastriMcLaren$2m€1.9m
-Nyck De VriesAlphaTauri$2m€1.9m
-Zhou GuanyuAlfa Romeo$2m€1.9m
19Logan SargeantWilliams$1m€950,00
-Yuki TsunodaAlphaTauri$1m€950,00

Pit crew members, on the other hand, earn an average salary of $60,000 per year. Their highest-paid member is the crew chief who earns $1 million per annum. Read our article about pit crew members salaries here.

Pit Crew MemberPer RaceAnnual SalaryRace Winning Bonus
Crew Chief$10,000$1 Million$5,000
Refueling Person$5,000$350,000$2,500
Tire Changers$5,000$350,000$2,500
Tire Carriers$3,500$270,000$2,500
Jack Men$3,000$150,000$500
Wing Men$3,000$150,000$500
Stabilizer$2,500$90,000$250
Starter Man$750$40,000$250
Fire Extinguisher Man$500$30,000$250

It does make sense that team principals are paid more than pit crew members but less than drivers. After all, drivers are the ones who actually compete in the races and bring home the trophies. Team principals play an important role but they don’t take part in the races.

Pit crew members are also very important as they help the drivers during pit stops. However, their salaries are lower than team principals because they don’t have to deal with the media or sponsors. They also don’t have as much responsibility as team principals.

Frequently asked questions

Conclusion

Team principals play an important role in Formula 1 teams. They are responsible for the overall performance of their team and need to make sure that everything is running smoothly. 

Hence, it is no surprise that they are paid well for their efforts. We hope you found this article informative and that it has helped you understand more about the role of team principals in F1.

Article sources

Anton Gustafsson
Anton Gustafssonhttps://formulapedia.com
Anton is a Swedish Formula One expert and he is the co-founder of Formulapedia.com. He is a big fan of Formula 1 and he cheers for the Italian team Scuderia Ferrari. Anton has not missed a single Grand Prix since he started following F1 a few years ago.

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