Back in May, Uber released data showing at least half of its New York City UberX drivers earn more than $90,000 a year. In San Francisco, Uber claims its UberX drivers can earn up to $70,000 a year
Sounds almost to good to be true! I suggest everyone go tell the man to go stick it and go to work for themselves. Freedom to work where,when and how long surely seems appealing to the masses.
But before we start quitting are jobs just yet, lets look a little deeper..
With UberX, essentially anyone with a car can sign up to be a driver. Just be 21 and over have access to an insured vehicle and pass a background check. Once you pass these initial tests it’s on to your online training course. Once you complete the course, Uber will send you a phone and it’s off to the races you go. But how much will you realistically make?
This is actually very hard to figure out, so many variables come into play plus after reading the fine print on Uber’s terms and policies I’m at a total loss. I think the driver’s like to drive during holidays and ‘peak hours so there is an additional ‘surge rates’ which could be 2-6x’s more. Uber also charges a 20% cut or ‘rider fee’ towards the driver’s fare or should I say rideshare people because technically they aren’t fares. Remember Uber is a technology company and is not in the Taxi business. Anyway back to how much can you make pimping out your ride to rideshare people.
There are debates on how much depending on who you ask. Some sources I’ve read say a full time ( I’m assuming 40hr work week but with Uber it could be a lot more) is probably around 30 to 35K per year. I’m not sure if that includes taxes,gas,insurance,tolls,wear and tear,etc. I read somewhere recently that if you broke down all expenses involved it comes out to $4.54 per hour, far bellow minimum wage. Like everything else about this company it’s a grey area. At least when I was delivering pizzas back in the late 80’s, I knew my route and was bringing home around $10 per hour on busy weekends with tips. Which brings up another issue for another day….Uber and tips…
One thing is for certain…maybe the drivers don’t make the money but it sure looks like UBER does.