So you are probably looking to join the bandwagon and perhaps enter the Uber frenzy. Maybe you’d like to make some extra cash driving clients around at night (in addition to your current hustle). Or maybe you’re simply wondering How much do Uber drivers make? Well, why don’t you get an opinion from the horse’s mouth? From a Uber driver. I’ve been driving taxis for seven years now, and I shifted to Uber in 2014. From the many statistics carried out by different entities regarding how much Uber drivers make annually, I’d like to say that I agree with most of the results.
Albeit Decent, Earnings Not As High As Thought
Unlike what most people might think, Uber drivers don’t make a lot. It isn’t that much. And it depends on very many factors. For instance, a Uber driver in a city like New York is surely expected to earn much better than a driver in a smaller town like Stowe, Vermont (yeah, where is it?).
It is also expected the earnings to differ from how much one drives, regarding how many hours one dedicates on a daily basis. The other factor is whether one drives during the peak hours or not.
On average, Uber drivers earn from around $10 an hour to somewhere $25 every hour. Some even make more than that, especially those driving during the night hours. The earnings add to something like $30,000 – $60,000 annually. This is a decent earning.
Various Factors Come Into Play
Regarding how much do Uber drivers make, there are lots of other factors involved, such as brake replacements, oil changes, tire replacements, weekly car washes, car insurance, etc. All these are, again, dependent on how frequent the car is being used.
On average, the expenses can take about 30 to 35 percent of the amount a driver earns annually. That is, if a driver makes $72,000 annually, then the average net earnings that the same Uber driver takes home may come down to somewhere $45,000.
This is a great number, isn’t it? Of course, this isn’t so bad. But the figures mainly favor experienced Uber drivers. For a newbie, one should expect to work more hours a day, perhaps 10 to 12 hours a day. Things become even worse for drivers who are new to the city.
More Hours, Better Earnings
Just like any other career, or anything in life for that matter, putting more hours is inevitable; unless you’ve developed a strong customer base (if that exists with Uber!).
At the end of the day, Uber has undeniably made things much better for both clients and drivers since things are much more efficient as the drivers’ average annual earnings seem to have improved. And that’s something worth noting.