The Economics Of Being An Uber Driver
July 1, 2014 in Daily Bulletin
Uber is a service that lets almost anybody operate their own taxi, to be hailed through a mobile app. Megan Rose Dickey took a look at what aspiring Uber drivers can hope to earn:
- Uber released data showing that half its New York City drivers earn more than $90,000 a year.
- However the sample only included those drivers who work over 40 hours a week and didn’t include costs such as gas, insurance, or Uber’s 20% cut.
- One Uber driver grossed $15 an hour. But after taking into account costs that goes down to about $4.54 an hour – well below minimum wage.
- To make $75,000 a year in San Francisco a driver would have to work a 58 hour work week.
- Those not looking to make it a full time gig can work 16 hours on Friday and Saturday nights to make about $400 per week.
Read more about the costs and benefits of being an Uber driver, some driver requirements, and more over here.
Source: Business Insider
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