Uber and Lyft drivers making $3.37/hr

  1. #1

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    Uber and Lyft drivers making $3.37/hr

    This can't be right. I'm smelling some faulty logic from the MIT geniuses. I know a few people who drive and there's no way this is right. Drivers, what's up?

    Uber, Lyft Drivers Earning A Median Profit Of $3.37 Per Hour, Study Says : The Two-Way : NPR
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  2. #2
    theguru's Avatar
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    Quote Originally Posted by ManOfTroy View Post
    This can't be right. I'm smelling some faulty logic from the MIT geniuses. I know a few people who drive and there's no way this is right. Drivers, what's up?

    Uber, Lyft Drivers Earning A Median Profit Of $3.37 Per Hour, Study Says : The Two-Way : NPR
    I have often wondered how overall vehicle expenses will figure into the long term profit for most uber/lyft drivers.

  3. #3
    MJAlltheWay24's Avatar
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    Sort of makes sense after you factor in their expense: gas, as well as wear & tear on the car.

    That also doesn't factor in tips.

  4. #4
    TheDeuce's Avatar
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    In my experience, you don't make nearly as much money as Uber/Lyft want you to believe you will. You have to drive for HOURS to make any kind of decent money, unless you get a long fare mixed in.

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    TAC's Avatar
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    Driver told me yesterday canít make much money unless your car get 40 MPG
    He drove a Prius

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    I guess my question would be, what do you count as expenses? If I work from my home, I'm not counting my house payment, home owners insurance, taxes, etc. as a work expense. I think that is what they're doing here. The drivers already have a car and are paying insurance. Sure, gas is an obvious expense and "wear and tear" factors in.

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    Quote Originally Posted by TAC View Post
    Driver told me yesterday can’t make much money unless your car get 40 MPG
    He drove a Prius
    Good point. Definitely a major factor.

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    Gas + Wear/Tear can get written off on taxes. Of course, that's not as good as getting paid up front/fronting costs of maintenance.

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    woodsrider's Avatar
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    I had a driver in Louisville tell me he makes a min of $16/hour. Meaning if he works for 4 hours had has 0 fares, Uber pays him $16/hour. I'm sure this varies by location.

  10. #10
    littleluck55's Avatar
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    I wonder how much money this Uber driver made?

    Drunk man blacks out, wakes up in N.J. after taking $1,6 Uber ride

    A New Jersey man says he blacked out while partying in West Virginia and drunkenly ordered an Uber to his home state of New Jersey.

    That particular chain of events costs $1,635.93, and Kenny Bachman can tell you all about it, according to reports.

    Bachman was out with friends in Morgantown, W.V. last Friday, when he called an Uber to take him back to where he was staying at West Virginia University's campus.

    Instead of going to campus, the Uber driver took Bachman back to his home in Gloucester County, N.J.

    The report states that Bachman woke up two hours into the trip, but didn't want to just be dropped off in the middle of no where, so he stuck it out all the way home. 300 miles from where he was partying and staying.

    "Afterwards I had it fully sink in," Bachman told NJ Advance Media. "Once the ride ended and I saw how much it was when I was like 'Alright, this is insane, that's just crazy.'"

    Uber confirmed the ride occurred, the report states, and the driver took Bachman to the destination he requested.

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    TheDeuce's Avatar
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    Quote Originally Posted by woodsrider View Post
    I had a driver in Louisville tell me he makes a min of $16/hour. Meaning if he works for 4 hours had has 0 fares, Uber pays him $16/hour. I'm sure this varies by location.
    They will do that for limited periods of time, but that is rare.

  12. #12
    Jumpman4004's Avatar
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    I use to drive for Uber a few years back. To make any kind of decent money you have to get a few 'surge' fares. If you are unfamiliar with what that means, it is a time where a lot of riders want rides but not a lot of drivers are around. You essentially get paid a premium for being in that area at that time. If you are not working during a high traffic time, it is very difficult to make a lot of money.

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