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Monday, July 15, 2024

The Highest-Paid IndyCar Drivers

Mar 10, 2024; St. Petersburg, Florida, USA; Indycar driver Josef Newgarden (middle) celebrates winning the Grand Prix of St. Petersburg. Indycar driver Patricio O'Ward (left) celebrates winning second and Indycar driver Scott McLaughlin (right) celebrates winning third.
Peter Casey-USA TODAY Sports

Interest in IndyCar is on a wave of growth, with millions of viewers tuning in for races. More media attention and fan interest has equated to bigger paydays for the highest-paid IndyCar drivers.

Marcus Ericsson earns $3.1 million to lead the way as the highest-paid IndyCar driver. He drove in Formula 1 for four years between 2014 and 2018 before the switch to IndyCar. 

Ericsson is in his first season racing with the Andretti Global team. He won the Indy 500 in 2021 and has four total career wins in the IndyCar Series.

Second among the highest-paid drivers is Pato O’Ward of Arrow McLaren. He earns $1 million annually driving the number five Chevrolet for the team. O’Ward’s best finish came in 2021 when he finished third at the end of the season. He’s secured two top five finishes and four top ten finishes so far in his career. 

Driving under Chip Ganassi Racing, Scott Dixon earns $707K to place him third. He’s the longest tenured driver in Chip Ganassi Racing team history signing with them in 2002. Dixon is also the winningest active IndyCar Series driver with six championships. His 58 career wins in nine away from the all-time record. 

Fourth is Felix Rosenqvist bringing in $570.5K. The Meyer Shank Racing driver won the 2019 IndyCar Series Rookie of the Year award.

He started his career racing under Chip Ganassi Racing team until 2021. Rosenqvist has six poles in his career and 17 top five finishes.

Alex Palou rounds out the top five earning $569.6K annually with Chip Ganassi Racing. He’s won the IndyCar Series twice in his career. Raised in Barcelona, Palou began his career racing in Europe and Asia before making his debut in the IndyCar Series in 2020. He’s the first Spanish-born driver to win the IndyCar Series.

Starting as an underdog to other racing leagues, IndyCar and its drivers are now beginning to earn big wages similar to the more established leagues.

Meyer Shank Racing team has most drivers represented among the highest-paid IndyCar drivers with three.

Collectively, the three Meyer Shank Racing drivers earn $1.6 million, just over half of what Marcus Ericsson earns a year as the highest-paid.

Ranking The Highest-Paid IndyCar Drivers

Here is the entire list of the highest-paid IndyCar drivers. The list was compiled with data from IndyChronicle and IndyCar.

  • Updated: June 17, 2024
RankDriverTeamTotal Compensation
1Marcus EricssonAndretti Global$3.1 million
2Pato O’WardArrow McLaren SP$1 million
3Scott DixonChip Ganassi Racing$707K
4Felix RosenqvistMeyer Shank Racing$570.5K
5Alex PalouChip Ganassi Racing$569.6K
6Alexander RossiArrow McLaren SP$548K
7Conor DalyMeyer Shank Racing$527.1K
8Simon PagenaudMeyer Shank Racing$507K
9Josef NewgardenTeam Penske$500K
10Will PowerTeam Penske$450K
11Colton HertaAndretti Global$400K
T-12Rinus VeeKayEd Carpenter Racing$350K
T-12Romain GrosjeanJuncos Hollinger Racing$350K

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