What percentage do lyft drivers make

※ Download: What percentage do lyft drivers make Since I believe that there is no promotions or anything like that, the job can get pretty repetitive and boring, but you gotta do whatever you can to get that extra cash. Anything you pay for out of pocket is very easy to calculate — including car and insurance payments. But, if drivers make more than the guaranteed earnings, nothing noteworthy happens. And while many assume that drivers feel similarly about Lyft Line, the results were surprising: 45. As in, tips are not factored in. Like water, snacks, gum, etc. Lyft Employee Reviews - As far as future major repairs — that is also kind of a nebulous number that is hard for drivers to put a real number on. As the popularity of rideshare continues to grow, so does the number of drivers out on the street. Over the last few months, we have noticed a huge jump in Lyft-related questions sent our way. A conducted by a popular rideshare platform revealed some interesting information. During this survey, about 1,150 Lyft drivers came forward to disclose how much money they make per hour. The survey does factor in an age alongside wage. Those between the ages of 18 and 30 tend to earn quite a bit higher than other age groups. Regardless of age, the average wage is well over minimum wage in most states. This estimation may attribute to the fact that there are more drivers under the age of 40 working in the rideshare industry. Even so, we are going to break down some of the most common questions and misconceptions when it comes to working as a rideshare driver. Check out the details below. Bear in mind, this average only considers the hourly wage variations over the time span of a month. As in, tips are not factored in. If the monthly profits include tips, Lyft earns more money, even after a month. This is very important to consider if you are currently only driving for one app. Having said that, we continued our research in regards to how much drivers can earn working for either rideshare company. Another source we came across was from the lending company Earnest. According to Earnest, the wage median for a rideshare driver is pretty darn low. Keep in mind, Earnest does not specify if this includes business expenses. Still, let us discuss what median wages are. To calculate this, take all wages from highest to lowest or vice versa. From there, pick the middle number, which is the number that is the same distance from the left as it is from the right. If there is a tie, add the two middle numbers together, then divided by two. The result is how much the median value is in the information you are working with. Having said that, the median wage is used to exclude outlier numbers. As in, the median wage is not the average, which can be skewed if you add a low number to the mix. Lyft Income Calculator Sure, Lyft generates an estimated amount that drivers can earn per completed ride. Unfortunately, this does not calculate how much you could earn. The calculator below does. So if you want to figure out the amount of money you can earn, check it out. Related: What Drivers Can Make, According to Lyft Of course, Lyft offers drivers with a way to see how much your fellow drivers are making. They do this by breaking down the different phases of the ride, listed below. Then, it couples that information with the amount earned for completing each. It is important to note that wage represents a national estimate. As you may have noticed, this amount does not include Period 1. This is because the driver may be online but not driving any passengers around, which makes sense. If you do not have a passenger on board, you are not going to be making any money via the Lyft app. When you factor the Period 1 downtime in, which tends to happen often on slow days, the estimated wage drops. We found an informative rideshare video created by a well-known YouTube channel called. We want to point out a few things you should consider before deciding to watch the video. First, the gentleman in the video is only working as a part-time driver. This means that he is working fewer hours and experiencing less downtime than what most full-time drivers experience. This location is one of the higher-paying cities in the rideshare industry. Lyft Pay Reviews Remember the survey we talked about earlier? Well, the same survey asked drivers if they are satisfied with their rideshare driving experience. Out of the 1,150 drivers polled, about 73% said they either strongly or somewhat satisfied with being a Lyft driver. Uber drivers reported only being about 43% satisfied. Having said that, many claim that Lyft is an unreliable source of income. The reason cited on why this happens is not due to downtime. Rather, drivers are reporting that the unreliable income aspect is due to vehicle maintenance costs. Which, unfortunately, is a very valid observation from what we can tell. Despite this, the perks of the job definitely carry weight when determining if working for Lyft is worth it. As a Lyft driver, independent contractors have flexibility when it comes to their schedules. Lyft Weekly Guarantee Driving enthusiasts seeking a way to turn their passion into a career will adore Lyft for one major reason: weekly earning guarantees. Dubbed the , Lyft offers drivers a way to earn a specified amount of money by completing a certain number of rides within a timeframe. Drivers that are not able to meet this metric, or do but earn less than the guaranteed wage, will get the promised sum. But, if drivers make more than the guaranteed earnings, nothing noteworthy happens. Drivers that qualify for this awesome weekly earnings guarantee will be notified via email. The email will inform drivers on the amount of money they need to earn, as well as the number of rides to complete. Once drivers reach the last day of the given timeline if they have met the qualifications the bonus amount will show up on their promotions tab. Lyft Bonuses Another way to make extra money driving for Lyft is to watch out for is PRIME time. Lyft uses this as a way to encourage drivers to drive when the demand for rides is higher than the number of drivers. Related: Another way to increase your Lyft or Uber earnings is to take advantage of. Both ridesharing companies allow drivers to use a referral code when they sign up. When you use a referral code, you make more money on your first rides. Lyft Driver Expenses Even so, these monetary may not be enough for some. For example, if you love your vehicle and want to use your position as a rideshare driver to show your car off to people, you might want to reconsider. There are hidden costs when driving for Lyft and Uber that many drivers fail to take into account. The high cost of and other expenses will start adding up over time, even if you find yourself making serious cash. Although expenses tend to devour most profits, the majority of rideshare drivers appear to be happy with their occupation. Furthermore, drivers that are able to reduce the downtime between rides can make a ton of cash for their time. Since the gig economy is here to stay, there is plenty of time to see for yourself how much money you can make. So take the time to figure out what works for you. Bear in mind, the only thing standing in your way from making big bucks is how much effort you are willing to put in. Drivers that are able to focus on the positives, such as getting to know passengers, their city, and the perks of being your own boss, are more likely to earn more over time — mainly through tips. Other than this, drivers should work on identifying ways to always have a ride queued up. Steady rides will definitely help to boost profits thanks to the virtual elimination of the Period 1 phase of a shift, as outlined by Lyft. Either way, there are so many variables to consider when it comes to estimating how much money you could make as a rideshare driver. Trial and error along with patience can go a long way in this industry. Check your for subregion rates in your city. My next step to calculate real Uber driver earnings was to factor in vehicle expenses. Which, unfortunately, is a very valid observation from what we can tell. During this survey, about 1,150 Lyft drivers came forward to disclose how much money they make per hour. My mentor told me that the giant pink mustaches on the front of the car were being phased out. From Uber promo codes, to Lyft driver requirements, to debates about Uber vs. My mentor told me he chose Lyft over Uber because he prefers the Lyft vibe. The calculator below does. However, those figures were quickly disputed — by New York City drivers. Lyft drivers make the most on Friday and Saturday nights, making it a suitable complement to a conventional day job. Uber and Lyft both have been almost completely silent about driver earnings.