We recently told you how much Uber drivers really make on the job. What about driving with Uber’s main competitor, Lyft? According to a new survey from loan how Much Earnest Money Earnest, Lyft drivers make slightly more than Uber drivers. Earnest found, however, that if you drive for both Uber and Lyft—which is about a quarter of people in their sample—on average you make slightly more on Uber. This isn’t necessarily because Uber pays drivers more on a per-ride or per-hour basis.
It could be simply because people who drove for both companies tended to put in more hours with Uber. Earnest’s study, which came from loan applications of its users, has no estimates on typical hourly wages. It’s not clear if the earnings cited in the study are net or gross either. As we mentioned in our story on Uber earnings, driver expenses can eat significantly into your earnings. Another recent survey had similar findings about Lyft drivers making more their Uber counterparts. Lyft drivers reported higher satisfaction with their company than Uber drivers too. Three-quarters of the drivers in the survey said they were satisfied with Lyft, compared to slightly less than half for Uber. The difference in tipping policies may have affected both driver earnings and satisfaction ratings at Uber and Lyft.
Uber has since added a tipping option to its app in more and more cities. But anecdotally, he said, some drivers feel they made more from Lyft, most likely because of tipping. Neither Uber and Lyft offers estimates for how much drivers will make, typically. The more you drive, the more you earn. You can drive and earn as much as you want.
We reached out to Lyft, and a representative declined to specify how much it estimates drivers earn on average. Money may receive compensation for some links to products and services on this website. Offers may be subject to change without notice. Quotes delayed at least 15 minutes.
Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. P Index data is the property of Chicago Mercantile Exchange Inc. Powered and implemented by Interactive Data Managed Solutions. How much money do Uber drivers really earn? Since launching in 2009, the company has often changed its fares in the cities in which it operates. The question is further complicated because the studies seeking to answer that question over the years have each taken different approaches.
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So we’ve reviewed several studies to get a handle on how much drivers make. 155 a month — third most among the nine gig platforms surveyed. People working with Airbnb and Lyft tended to earned more. 364 a month — fourth most — suggesting some drivers are taking home the lion’s share of possible earnings. Earnest did not ask drivers to say whether these figures were gross or net. The study also did not factor in how many hours individuals worked to earn this income, so we can’t gauge how much drivers made on an hourly basis.
Here were the totals for all platforms analyzed by Earnest, with Uber highlighted. Campbell recently conducted his own study, which polled 1,150 drivers from both Uber and Lyft. 68 per hour before factoring in expenses like gas, maintenance, and depreciation. 50 per hour before expenses, and reported much higher satisfaction than Uber drivers. Drivers can pick up more passengers and therefore make more money if they’re willing to work during peak-demand periods, which often mean late nights on weekends. Uber charges different rates in different markets, and big, bustling cities tend to have more passengers in need of rides, so it makes sense that driver earnings have also been found to vary widely by city. To get an idea of how an individual driver’s earnings are affected by changing one’s location and company affiliation, Money spoke to a driver who wished to be identified simply as Matt, in his mid-20s.
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He recently moved from Raleigh, N. San Francisco and switched from Uber to Lyft. 6 per hour in North Carolina. 19 an hour in earnings before expenses. Lately, Campbell says the overall mood among Uber drivers is improving. June to make the driver experience better, including the long-awaited addition of an option for passengers to tip drivers through the Uber app. 180 Days of Change’ initiative than they have in a couple years so I’m optimistic that they will continue to improve the driver experience and improve retention.
We reached out to Uber for comment on the findings in these different studies, and have not heard back from the company. Money may receive compensation for some links to products and services on this website. Offers may be subject to change without notice. Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. P Index data is the property of Chicago Mercantile Exchange Inc.
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Laws in your state may be different. Bear in mind, however, that the amount of your earnest money deposit depends primarily on your marketplace and local custom. 00 as an earnest money, the seller would look at you funny and presume you are not serious. Earnest money should reflect your earnest intention to make good on your offer and purchase the home. What Is an Earnest Money Deposit? Earnest money is a good faith deposit that is part of the down payment but should not to be confused with a down payment.
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