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NASCAR is an extremely popular sport in the United States, and other than Formula 1, it is one of the most widely recognized motoracing leagues in the world. You may not believe it, but some drivers earn an unbelievable amount of money, sometimes upwards of $10+ million in salary and earnings annually.
It takes the best of the best to earn that much money, but still, drivers receive generous salaries compared to other sports. Let’s break down the earnings of NASCAR drivers including their base salaries, prize money winnings, and how much some of the top drivers make per year.
In most big racing leagues such as NASCAR, only winning drivers receive prize-money and are likely to receive higher salaries. More often than not, drivers have to bring in their sponsors and a lot of times don’t win any money at all. That being said, the average salary is $112,000 for most NASCAR drivers. This figure may vary depending on the quality of the driver’s performance, popularity, and sponsorships.
NASCAR salaries can vary anywhere from $50,000 for newer drivers to $10+ million for the top tier. It’s important to keep in mind that endorsements have a lot to do with the driver’s pay, as not only can inexperienced drivers make a lot of money with sponsors, but so can middle-of-the-pack drivers. For example, one of NASCAR’s most popular but “least winning” drivers (#33 all-time) Dale Earnhardt Jr. reportedly earns $28 million per year from a combination of race earnings, sponsorship deals, and ownership earnings.
The top-earning NASCAR driver salaries compare pretty favorably with Formula 1 earnings. No NASCAR racer can match Max Verstappen’s salary of $55 million a year, but the average F1 driver gets around $14 million which is in a similar ball park.
While a lot of individual drivers’ pay is already calculated with prize-money taken into account, it’s important to understand how NASCAR prize-money works. Generally, big races like the Daytona 500 contain a purse of prize-money, which is reported to sit at around $28,035,991 for the 2024 competition. Teams are paid out based on their finishing positions, duels, competition history, and three-year charter history, meaning winning drivers can earn a large chunk of the purse, although the amount can vary from year to year.
The purse itself comes from a combination of sources including TV awards and other coverage. Overall, the ‘race purse’ is the only part of the entire purse that’s available to win from the race, and while there is no distinct percentage or number given by NASCAR for this portion, other parts of the purse are also awarded to television coverage and certain sponsor bonuses. In 2014, NASCAR stopped disclosing the winning prize amount after racer Joey Logano won over $1.58 million in the competition.
Check out the list of NASCAR drivers as of 2024 with their estimated salaries based on available information:
| Rank | Driver | Team | Salary (2024) |
|---|---|---|---|
| 1 | Kyle Busch | Richard Childress Racing | $16.9 million |
| 2 | Denny Hamlin | Joe Gibbs Racing | $13.1 million |
| 3 | Martin Truex Jr. | Joe Gibbs Racing | $10.4 million |
| 4 | Brad Keselowski | RFK Racing | $9.4 million |
| 5 | Joey Logano | Team Penske | $9 million |
| 6 | Kyle Larson | Hendrick Motorsports | $8 million |
| 6 | Chase Elliott | Hendrick Motorsports | $8 million |
| 8 | Daniel Suarez | Trackhouse Racing | $4.5 million |
| 9 | Michael McDowell | Front Row Motorsports | $3.7 million |
| 10 | Alex Bowman | Hendrick Motorsports | $3.5 million |
| 10 | Austin Dillon | Richard Childress Racing | $3.5 million |
| 12 | Ricky Stenhouse Jr. | JTG Daugherty Racing | $3 million |
| 13 | Erik Jones | Legacy Motor Club | $2.3 million |
| 14 | Bubba Wallace | 23XI Racing | $2.2 million |
| 15 | Ross Chastain | Trackhouse Racing | $2.1 million |
| 16 | Ryan Blaney | Team Penske | $1.9 million |
| 17 | William Byron | Hendrick Motorsports | $1.8 million |
| 18 | Ryan Preece | Stewart-Haas Racing | $1.6 million |
| 19 | Chris Buescher | RFK Racing | $1.5 million |
| 20 | Tyler Reddick | 23XI Racing | $1.3 million |
| 21 | Chase Briscoe | Stewart-Haas Racing | $1.2 million |
| 22 | Timmy Hill | MBM Motorsports | $900,000 |
| 23 | Christopher Bell | Joe Gibbs Racing | $800,000 |
| 24 | Cole Custer | Stewart-Haas Racing | $500,000 |
| 25 | Anthony Alfredo | Our Motorsports | $330,000 |
Liam has been a major sports fan and soccer player for over a decade, with a particular focus on major top-level soccer leagues, including the EPL, La Liga, Serie A, Bundesliga and MLS. He has written numerous promotional articles for various top sportsbooks and continues to publish historical and factual sports articles covering the NFL, MLS, NHL, MLB, EPL and more.