Average Nascar Driver Salary
Apr 23, 2007 - 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).
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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.
Average Nascar Driver Retirement Age
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
Average Nascar Driver Salary 2016
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.
Average Nascar Driver Height
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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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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