Entry-level mechanic jobs in Formula 1 racing earn around $20,000 per year, while senior engineers and mechanics make up to $80,000 annually after working in the business for longer than 5 years, according to the TSM Plug website. Annual wages can vary drastically based on the level of competition and the success of the car that the mechanic is working on, but the highest level mechanics can make well over $100,000 per year.
Formula 1 mechanics must work on Formula 1 cars both during a race and outside of the race. If the car breaks down, mechanics may need to be part of the pit crew and make quick fixes on the spot. Furthermore, the mechanic is expected to constantly make changes to the car and work with the driver to give the car advantages in races while still adhering to Formula 1 rules. Many Formula 1 mechanics and engineers have not only gone to school for automotive engineering, but also have hands-on experience working in the race car industry, according to My Job Search.
Entry-level Formula 1 mechanics may not take home large amounts of money annually, usually no more than $20,000 per year, but as they work in the industry and gain experience, they can expect to make up to $40,000 after 3 years and continue to have an increased salary after 5 years, suggests the TSM plug website.