- Hyatt cracks down on second guest approach to sharing status by Frequent Miler. Surely they aren’t cracking down due to people doing things like this?
- Uber and Lyft drivers’ median hourly wage is just $3.37, report finds by The Guardian. Not surprised it’s low, but this low is surprising. Keep in mind this takes into account vehicle cost and other factors.
- Equifax finds an additional 2.4 million Americans impacted by 2017 breach by CNBC.
- Tim F shares this hilariously bad bank account bonus. When I first saw it I thought a speaker might not be that bad, then I saw the speaker.
If youre only making $3.37 an hour your doing it wrong. And by “working” does that mean sitting at home waiting for a request? I did the lyft/uber bonus game for $1000 back in 2015 and if youre willing to drive in metro areas you can still make ok money, its laughable when people add car insurance in as an expense because that would be paid no matter what. 54.5cents each miles ensures you will owe $0 in taxes come 1099 time.
Commercial car insurance would not have been paid no matter what, unless you already use your car for work.
So true.
During conversation with drivers I came to know how little they make per ride. In-fact tips make a large portion of their earnings especially for shorter rides. The only silver lining they said were being their own boss and flexibility of hours. It’s up to them how long and at what time they would like to work. Certainly not a great full time job but a great part time gig to tide over a job crisis.
I beg to differ. My experience with uber overall has been positive. Like any other position or opportunity presented one must review all of the layers to it. I drive in xl the lowest platform with uber and i average $2000 gross per week working on my time. I have devised a strategy and i work in the San francisco area. I do have about $500 per week in expenses but i control when they are paid allowing me to leverage those resources even more. Uber is a great opportunity if you are willing to be creative and persistent.
Not surprised to hear this at all, yet disappointing nonetheless.
The numbers for Ride-share drivers didn’t surprise me at all either – and I wouldn’t recommend anyone do it unless they intend on hitting only the big surge hours or using it while commuting. I did my own rideshare experiment over 10 months and averaged $4.30 per hour when logged in (not including empty miles home at the end of the day). I also hit the surge hours hard during the mornings and evenings. If I take out all of the fixed costs (insurance, registration, etc.), my wage would have been $6.00 per hour – so it’s definitely just borrowing money from your vehicle’s value.
Any regular Uber/Lyft driver who claims they make more than $10/hour does not how to properly account for their expenses.
Only idiots who dont know how, WHERE and WHEN to drive are complete losers. I don’t drive often at all, in fact, when I do drive, it’s out of boredom, not for money. However, I choose where and when I drive very carefully too average no less than $20.00 an before expenses. Smart drivers are keen enough to track their mileage legally which adds over .50 cents per mile in tax write offs and adds up quickly, including dead miles.
Don’t listen to these negative idiots who live in the back country and DONT have a clue how to play the ride share game to make bank$$
“Idiots” “Losers” Can’t imagine who you voted for in 2016…
Notice I said “regular” drivers – aka full-time drivers. Don’t get me wrong, it’s a great gig for people who just want to do the busy hours or cover expenses and make a little extra during their commute. I just would never recommend someone does it full-time at base rates.
Uber is an awful “job”. I tried it as a way to pickup some cash on the side and found results similar to what that article says. I’m not sure how people outside of a big city’s limits can make any money here, especially since all of the expenses are on the driver’s dime.
I have gotten about 30 friends I know to Uber or Lyft and share ALL their data points with me. 100% of them make good money but they don’t drive full time.
They only turn it on when going to and from work or the store using the “destinations” feature. You can do those 8x per day between the two apps and entire your deadline for arriving at your destination.
It more than covers vehicle costs and in some cases also covers their vehicle loan costs.
Doing it full time only makes sense if your analyze heavy demand hours and locations in your market. Doing it to actually share your ride makes a ton of sense.
It’s just because people don’t understand the real cost of driving. The only Uber drivers I personally know are very financially illiterate.