List Of Nascar Drivers Salaries

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Here, DSport presents 10 drivers who earned the most in 2017. Jimmie Johnson ($21.8 million) Jimmie Johnson surpassed Earnhardt Jr. To be the NASCAR’s highest-paid driver in 2016 after he clinched his record-tying seventh Cup championship with a win at Homestead-Miami Speedway in the final race of the season.

You want to become a famous NASCAR driver and earn millions? Be prepared for a lot of hard work and luck.

Job Description

Professional NASCAR drivers strive to win races while making split-second decisions at speeds over 200 MPH. Drivers must be in top physical condition and have quick reflexes. Today's drivers are slim with toned muscles.

In addition to driving race cars, drivers make public appearances to promote their sponsors, team and NASCAR. They must be available to answer questions from fans and sign autographs. Drivers are not just skilled in racing at high speeds, they are also entertainers who please their audiences with their personalities.

Education Requirements

The path to becoming a NASCAR driver is long and arduous. Many drivers start off at a very early age racing go-karts, then they move up to full-size cars.

You must enroll in a racing school, such as the course offered by the Sports Car Club of America, and earn a competition license to enter races. Aspiring drivers participate in as many races as they can afford to gain experience and recognition.

Drivers must have a thorough understanding of every system in a car and how they work. Attending an automotive training school, such as the NASCAR Technical Institute, is the best way to get this technical knowledge. While all racing teams have sophisticated technology and equipment, they still rely on feedback from the drivers to tell them how the car is performing.

A college degree is not required, but it's good to have one in case the racing career doesn't work out.

Industry and Salaries

Salaries and earnings of NASCAR drivers fall into two categories: (1) those top drivers who make millions each year and (2) those drivers who are only earning five or six figures and hoping to make millions.

This is a list of the top earners:

  • Dale Earnhardt: $22 million
  • Jimmie Johnson: $19.2 million
  • Kyle Busch: $14.7 million
  • Denny Hamlin: $14.6 million
  • Kevin Harvick: $13.6 million
  • Brad Keselowski: $11.2 million
  • Kasey Kahne: $11.2 million
  • Danica Patrick: $10.3 million
  • Joey Logano: $10.2 million
  • Kyle Larson: $10.1 million
  • Martin Truex: $9.9 million
  • Matt Kenseth: $9.0 million

Years of Experience

Starting at an early age, aspiring drivers hone their skills racing go-karts, midget cars, trucks, open-wheel cars and stock cars. They race on dirt tracks, ovals and rally courses before moving on to modern, asphalt super raceways.

The number of years that it takes depends on how quickly a driver can develop his skills and start winning races to gain recognition. Eventually, a driver will need to attract a sponsor who will be willing to invest large amounts of money to support a team.

Job Growth Trend or Outlook

International Speedway Corporation is the publicly traded corporation that owns and operates NASCAR's Sprint Cup Series. Attendance at its 13 racetracks has been stagnant for the past several years. The amount of money contributed by sponsors of cars has also been declining. NASCAR racing is also facing competition from other entertainment venues, especially with the millennial generation more interested in digital products.

While ISC is taking steps to increase attendance and revenues, the prospects for growth are not promising. Nevertheless, the car racing teams are always on the lookout for promising, upcoming drivers. Older drivers are retiring and new ones will take their places.

Becoming a famous NASCAR driver is a dream of many kids now motoring around in go-karts. Top drivers earn millions of dollars in salary, bonuses from wins and sponsorship of products. Hopeful drivers can count on spending a lot of their own money, and many hours on short, dirt tracks before racing on the asphalt at a 2 1/2 mile NASCAR super track.

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List Of Nascar Drivers Salaries

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About the Author

James Woodruff has been a management consultant to more than 1,000 small businesses. As a senior management consultant and owner, he used his technical expertise to conduct an analysis of a company's operational, financial and business management issues. James has been writing business and finance related topics for work.chron, bizfluent.com, smallbusiness.chron.com and e-commerce websites since 2007. He graduated from Georgia Tech with a Bachelor of Mechanical Engineering and received an MBA from Columbia University.

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Most people know that the National Football League (NFL) is the most popular sport on TV, but it may raise a few eyebrows to hear that the second highest-rated sport is NASCAR –the National Association for Stock Car Auto Racing. No longer just a heartland sport, NASCAR is broadcast in over 150 countries. With all this television coverage come the big money and high annual salaries. Unlike NFL salaries, however, NASCAR drivers salaries are closely-guarded secrets.

That said, we do have some info on NASCAR drivers salaries, thanks to SportsIllustrated.cnn.com. SI says the highest-paid driver in 2005 was Dale Earnhardt Jr., whose annual salary and earnings totaled $5,761,830, but that’s not all. His endorsements earned $20,000,000, bringing his sub-total compensation to $25,761,830. That number doesn’t include sales of Dale Earnhardt Jr. merchandise and earnings from the racing company that he owns. SI says his total take in ’05 would approach $50 million!

The second $25 million is really for his role as a business owner, not directly for Dale Jr.’s work as a race car driver. While there are substantial risks to racing (Dale Sr. died on the race track), the pay is still impressive.

Can your salary compete with NASCAR’s drivers salaries? Give it a spin with our salary calculator.

History of NASCAR

List

Today’s enormous NASCAR drivers salaries are mostly due to television coverage, but it wasn’t always so. In the 60’s, 70’s and 80’s auto racing was a low draw with an occasional broadcast on ABC-TV’s Wide World of Sports. If we look back at the history of NASCAR, according to sportingnews.com, there were 54 races were run by NASCAR in 1969, and the winners were often paid as little as $1,000. Believe it or not, back then, racecar drivers were insured for only $15,000.

Richard Petty, who started driving for NASCAR in the late ’60s, told sportingnews.com, “When you go back to me and Allison and Pearson and all of them, we (were) just making a living. I drove 35 years and didn’t take in but $7.5 million dollars. It took me 15 years to win the first million. These guys today start out with $2 or $3 million dollars in their hand before they ever get in the race car. Then they go out and win another $2 or $3 million dollars or whatever.”

NASCAR Television Schedule

Old number 43 is not exaggerating. Today, NASCAR drivers can take home big earnings in the beginning of their careers. With only one Nextel Cup win under his belt, Jamie McMurray reportedly signed a $10 million dollar, multi-year contract with the Roush Racing Team. And you don’t have to win at the Cup level to draw big bucks; Casey Mears and Brian Vickers, were in high demand (sans a Cup win) when their contracts expired. NASCAR is clearly gearing towards younger racers, while older drivers find themselves in the Craftsman Truck Series.

In NASCAR, drivers are essentially free agents who sign with “teams” that have an owner. The owner makes money via corporations which pay big bucks for those stickers (sponsorships) that are plastered all over race cars. The size and location of the sticker determines how much a corporation pays the team owner. The most expensive location is on the hood of a race car, most prominent during TV broadcasts. It is sponsorships (and the NASCAR television schedule), not prize winnings, that mostly fuel NASCAR.

NASCAR Jobs

When it comes to NASCAR jobs, where does all that fuel, er, money go? Msn.foxsports.com crunched the numbers for a mid-level standard two-car team. For big name driving teams, multiply these numbers by one and a half or more:

  • Drivers’ salaries: see above
  • Team salaries: $2.5-3.5 million, or an average salary of ~$30,000/year for ~100 employees
  • Travel: $1 million per team
  • Tires: $1 million per team ($20,000 per race weekend plus testing)
  • In-house engine program: $3.5 million+
  • Cars: $1-3 million per team

Toyota NASCAR Engine = Higher Annual Salary

Those numbers climbed even higher when the Toyota NASCAR Engine entered the race. According to, nascar.com, “In a Jan. 17 New York Times report, Ford Racing head Dan Davis called Toyota ‘predators,’ claiming he had heard (Michael) Waltrip signed (Dale) Jarrett for $20 million, and that another Toyota team, Red Bull, lured engineer John Probst from Ford by doubling or tripling his salary.”

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“A lot of them are cracking the six-figure mark for certain teams, and with Toyota swooping in with offers, team salaries are going to keep rising. Deals that were once done on a handshake will now be penned via a three-year contract by a professional human resources coordinator.”

The drivers are paid, like entertainers or other athletes, for performance. I am glad to hear the support staff, which is critical to the success of a racing team, is starting to receive better wages as well.

How does your salary place among these racers? Find out with our salary survey.

Cheers,

Dr. Al Lee

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