The reality of how much you’ll earn as an Uber driver

The Uber referral program is another incredibly lucrative, underused way to earn more money as an Uber driver. As a way of countering Lyft’s huge rider and driver bonuses , Uber is practically giving away cash right now, offering existing drivers the chance to earn a few dollars for each passenger they refer to the app, and hundreds of.

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Uber drivers could earn more flipping burgers at McDonald's in a lot of big. “It's more low wage than I thought, to tell you the truth,” said.

To start with, Uber and Lyft, and the city you’re driving in, always get a cut. For example, in New York, Uber’s biggest market, Uber takes a portion of every fare: Lyft takes 20 percent of each fare. From that fare, the city also takes a sales tax of 8.875 percent and the Black Car Fund takes a fee of 2.5 percent.

Uber says its drivers make $6 more than traditional cab drivers, but the devil is in the details. Source . What The Research Says. According to MBO Partners, a creator of digital tools for the self-employed, the reality tends to be somewhat less encouraging: You’re likely to survive but not thrive.

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To understand what you’ll be earning and whether or not driving for Uber is worth it, or any other rideshare service, there are some costs you’ll need to factor into your earnings. Here are the expenses you’ll need to consider as a rideshare driver: Wear and tear of your car. Insurance, and this isn’t normal insurance.

Here’s how much Uber drivers really make. Uber drivers make an average of $364 a month and a median of $155 a month driving for the ride-sharing company, according to the analysis. The average uber driver in New York City takes home $25 an hour after commission and sales tax, Uber said in 2014.

in your city and then calculate approximately how many passenger miles and minutes you think you could drive in an average hour, and you’ll get a rough estimate of how much you could earn per hour. But don’t forget to deduct Uber’s 25% commission. Then subtract what you estimate your normal hourly car expenses would be, and you’re good to go.