Davies doesn't care about money, he just wants to race ;) - However, you'd be surprised at the wage increase since the last time I hired him. It's around a 30% increase, which is pretty big :P
I'd just like to add to that, that in 2010, the highest paid driver in F1 was Fernando Alonso at £24m. Which based on the amount of races comes to £1.26m per race, which is about the same as Davies gets per race.