Damon Hill has urged Jenson Button not to let money dictate his future.

New Formula One world champion Button currently finds himself in limbo as he does not have a contract for next year.

Button's first choice is to remain at Brawn GP after a phenomenally successful season together.

But after agreeing to a £5million pay cut to drive for Brawn, who rose from the ashes of Honda's demise, Button is now looking for a significant increase on the £3million he currently earns.

Paddock sources suggest he is aiming to double such a figure, if not return to the £8million he enjoyed with Honda.

Undeniably, Button could earn significantly more at McLaren, who are understood to have made an approach.

Hill, the 1996 world champion, said: "I'm sure lots of people would like to see him at McLaren.

"But it is a difficult decision - where to go next.

"I just hope he finds himself a competitive car for next year and gets decent money for winning a championship because he deserves it.

"The right environment is also important because years from now, when he reflects on his career, he will be looking back on the results and not the money.

"Clearly, there are other ways to make money as a racing driver, but it's not like golf where the guy who wins the most earns the most. It's more complicated than that here."

Hill concedes a degree of hardball is involved when it comes to discussing a deal because a driver's career is short, and one bad year could result in the end.

Button's situation is at least different as he can now always claim to be a world champion, which should open many other doors.

"You'd like to think in a simpler world the money would be automatic, but it comes down to negotiations," added Hill.

"As we've seen in this business, people haggle very hard over money and they've a right to do that.

"I'm just very glad I won a championship. That's a kind of payment you make to yourself, and the financial rewards follow."