4% of Uber Drivers Remain After 1 Year
(Wealth In Wellness) Pay and working conditions for Uber drivers are so bad, only 4% are still driving after 1 year.
After years of rate cuts, and driver saturation, it’s no longer the gig people are quitting their 6 figure income for.
Drivers report earning $15.68/hour before expenses. Drivers pay their own gas, vehicle maintenance, and vehicle depreciation. It’s safe to say, in many markets, drivers are earning closer to minimum wage.
In the report by The Information, the number one driver complaint is low pay.
Consider this as an Uber driver: You receive a request for a ride from a passenger 10 minutes away. They want a short drive to the store and you make $3.20 with no option in the app for a tip (who carries cash anymore?). You now wait 7 minutes for another ride and the same scenario plays out. It’s easy to see how hourly earning could be $10/hour minus expenses.
A driver can make more income working weekend nights. Be prepared to have belligerent drunks in your family car with the occasional passenger vomiting.
If you’re lucky, you can have Uber CEO Travis Kalanick in your car as a passenger and curse you out.
Uber was once a great gig to make extra income. For most, the math doesn’t pencil out anymore.