F1 News

'Ferrari has good year and hands out big bonus to all employees'

3 February 2022 at 12:08
Last update 3 February 2022 at 12:20
7
  • GPblog.com

As an employee of Ferrari, you're in the right place this year. The Italian automaker is paying each employee a bonus of up to 12000 euros. It must have been a good year for the Italians.

FIA-accredited F1 journalist Giuliano Duchessa reports that every Ferrari employee can expect a hefty bonus: "Ferrari is announcing a bonus of up to 12000 euros to each employee after the 2021 fiscal calculations and good indicators for 2022." This likely means that both employees on the side of the brand's streetcars and those on the side of the brand's racing teams will receive the bonus.

F1 budget cap allows for bonus

Ferrari, like McLaren, operates as one company, so everyone will receive the bonus if Duchessa's claim is true. The budget ceiling valid in Formula 1 has some exceptions regarding bonuses for employees. Point 3.1 K in the FIA's F1 financial regulations says that a bonus may be given, without counting toward the budget ceiling, if the bonus is below twenty percent of the employee's total annual compensation. Therefore, Duchessa probably says that the bonus is about a "maximum" compensation of 12000 euros.

Whether Carlos Sainz and Charles Leclerc, with their million-dollar salaries, are also eligible for the bonus is not clear. Ferrari's good fiscal year does give the Italian F1 fan hope for growth to their former position. Ferrari just has to make sure they spend the money present on efficiency, as they are bound by the same budget limit as the other teams.