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Source: https://www.ridester.com/how-much-do-uber-drivers-make/ https://www.ridester.com/how-much-do-uber-drivers-make/ > Full-time UberX drivers can expect to

by bhupy 7y ago

Source: https://www.ridester.com/how-much-do-uber-drivers-make/ https://www.ridester.com/how-much-do-uber-drivers-make/ > Full-time UberX drivers can expect to earn nearly $590 per week after tips when working 40 hours in a week. Beyond the aforementioned factors — location, surge, and tips — weekly earnings can also be heavily impacted by the amount of trip requests you receive throughout a seven-day period. > Uber drivers are known to make slightly less than Lyft drivers. We’ve found that a standard Lyft driver makes about $17.50 per hour, which is nearly $3 more than what Uber drivers make. Of course, your average Lyft wage (just like your average Uber wage) will vary based on location, how much you take advantage of promotions on Lyft, and how much you earn in tips. > It’s a general rule of thumb for the rideshare industry to budget roughly 20 percent of the total ride fare amount for ride-related expenses. At that rate – hypothetically speaking, after factoring in pick-up, drop-off, and dead time – the UberX driver could estimate to make somewhere in the neighborhood of $15–$20 an hour if they were to get two similar rides each hour they drove. [1] https://www.ridester.com/how-much-do-uber-drivers-make/ https://www.ridester.com/how-much-do-uber-drivers-make/

sfkdjf9j3j 7y ago
It doesn't look like this takes depreciation or gas into account, but the site is like 75% advertisements so I might have missed it.
- bhupy 7y ago
  From the article: "These expenses include: Insurance: This includes personal insurance and a rideshare or commercial insurance policy. Car/lease payments: The amounts a driver pays to drive their vehicle. Drivers either own their own vehicles or lease one from Uber or a third-party provider. Tolls, license, permit fees: Drivers pay for all of these fees. Passengers pay an added surcharge when drivers must incur toll fees. Gas: Since drivers are considered independent contractors, they must pay for their own gas, and are not reimbursed. Vehicle maintenance: Drivers are responsible for their own vehicle maintenance and upkeep. They will be reimbursed if a rider damages their vehicle, however."
  - catalogia 7y ago
    Vehicle maintenance is not the same as depreciation.
    - bhupy 7y ago
      I think it's debatable whether vehicle depreciation is a cost that needs to be included. For the majority of Uber/Lyft drivers, the vehicle is a sunk cost — they would have bought a car Uber/Lyft or not. These drivers use these cars for personal use when they're not driving on gigs. There are even drivers that buy cars just so that they can drive for Uber, but if Uber/Lyft didn't exist, those folks would still need to buy a car to meet their own personal transportation needs. Depreciation is going to inevitably happen to anyone that owns a car, whether or not they are a rideshare driver. It's like saying that you need to include the cost of a daily lunch in the equation.
      - catalogia 7y ago
        > Depreciation is going to inevitably happen to anyone that owns a car, whether or not they are a rideshare driver. Depreciation is partially a function of miles put on the car. Rideshare drivers put miles on their cars a lot faster than they would have otherwise. Either way, sfkdjf9j3j is right. Your source doesn't account for vehicle depreciation.
        AnthonyMouse 7y ago
        Compare the bluebook value of a typical car that might be used for this kind of work at ten years old with 120k miles (12k/year) vs. ten years old with a million miles (100k/year). The difference will end up being like $2500, because after ten years the car will be worth hardly any more than that no matter how many miles it has on it, and it can't lose more than 100% of its value due to higher mileage. ~$2500 amortized over 880k additional miles is <0.003/mile, and even less in net present cost because you don't lose it until you sell the car.
        7y ago

by bhupy 7y ago

sfkdjf9j3j 7y ago

It doesn't look like this takes depreciation or gas into account, but the site is like 75% advertisements so I might have missed it.

bhupy 7y ago
From the article: "These expenses include: Insurance: This includes personal insurance and a rideshare or commercial insurance policy. Car/lease payments: The amounts a driver pays to drive their vehicle. Drivers either own their own vehicles or lease one from Uber or a third-party provider. Tolls, license, permit fees: Drivers pay for all of these fees. Passengers pay an added surcharge when drivers must incur toll fees. Gas: Since drivers are considered independent contractors, they must pay for their own gas, and are not reimbursed. Vehicle maintenance: Drivers are responsible for their own vehicle maintenance and upkeep. They will be reimbursed if a rider damages their vehicle, however."
- catalogia 7y ago
  Vehicle maintenance is not the same as depreciation.
  - bhupy 7y ago
    I think it's debatable whether vehicle depreciation is a cost that needs to be included. For the majority of Uber/Lyft drivers, the vehicle is a sunk cost — they would have bought a car Uber/Lyft or not. These drivers use these cars for personal use when they're not driving on gigs. There are even drivers that buy cars just so that they can drive for Uber, but if Uber/Lyft didn't exist, those folks would still need to buy a car to meet their own personal transportation needs. Depreciation is going to inevitably happen to anyone that owns a car, whether or not they are a rideshare driver. It's like saying that you need to include the cost of a daily lunch in the equation.
    - catalogia 7y ago
      > Depreciation is going to inevitably happen to anyone that owns a car, whether or not they are a rideshare driver. Depreciation is partially a function of miles put on the car. Rideshare drivers put miles on their cars a lot faster than they would have otherwise. Either way, sfkdjf9j3j is right. Your source doesn't account for vehicle depreciation.
      - AnthonyMouse 7y ago
        Compare the bluebook value of a typical car that might be used for this kind of work at ten years old with 120k miles (12k/year) vs. ten years old with a million miles (100k/year). The difference will end up being like $2500, because after ten years the car will be worth hardly any more than that no matter how many miles it has on it, and it can't lose more than 100% of its value due to higher mileage. ~$2500 amortized over 880k additional miles is <0.003/mile, and even less in net present cost because you don't lose it until you sell the car.
        7y ago