You’re going on a trip across the country, and you’re running late for your flight. You can’t get a taxi to your doorstep. You’d have to walk the whole nine yards to the taxi stand.
Good thing there is Uber. All you need is a tap of your finger, and your private coach comes blazing to your door. Now, I wonder. How much do Uber drivers make that they are so excited to give you a ride?
How Much Do Uber Drivers Make?
It is difficult to determine how much an Uber driver makes for each trip. The base rate changes in every city. Then, there is the booking fee, promotional discounts, and other charges with surge pricing during peak hours. But, if you can complete 20 trips in a week, you can roughly earn an extra $30 on top of your base income, as Uber says on their website. Uber offers a lucrative compensation plan.
Two Ways To Earn With Uber
As an Uber driver, there are two ways you can earn money through the platform. One is driving customers to their desired locations, and the other is making pick-ups and drop-offs for Uber Eats, the company’s food delivery service.
- Get Paid To Drive – As an Uber driver, you earn like a regular cab driver. You get paid by the minute, plus a base fare every time you receive a passenger booking. Different rates apply in different cities.
- Get Paid To Deliver – Uber Eats, Uber’s food ordering and delivery platform, created a second revenue stream for drivers who perform food pick-ups from restaurant partners and drop-offs to customers. With this app, drivers can use any vehicle of their choosing.
Benefits of the Heat Map
A big benefit to drivers is Uber’s surge pricing. As the demand for rides goes up, so does the price to book them. The Heat Map feature highlights areas in red where there is a surge so drivers have the opportunity to take advantage of those higher prices and earn more.
How To Become An Uber Driver
Becoming an Uber driver is relatively simple. Here are the steps you’ll need to take to get started:
- Signup to drive on the Uber website – You’ll need to fill out an online profile with the requested information about yourself and the vehicle you plan to use. If you don’t have access to a vehicle, Uber can help you to rent one. If you need assistance with financing, the Giggle Finance platform is a good resource to employ.
- Upload a current driver’s photo – The photograph must have a good resolution. You cannot use a scanned photograph or your driver’s license photograph. Take a picture of yourself facing forward and centered in the frame.
- Submit the required documents – Be ready with scanned or digital copies of your driver’s license and registration. You will also need to provide proof of residence and insurance if you own your car. Other requirements vary according to your state.
- Complete the online driver screening – Once your profile is set up and you’ve submitted all the necessary documents, you can take the online driver screening. Uber will review your driving record and criminal history. If you pass the test, you are ready to drive.
Every city has its own set of requirements that drivers need to meet to work through the Uber app. Generally, you need to be at least 23 years of age or have driven a four-door vehicle for three years to qualify. A year of licensed driving experience will also suffice in some areas.
Why Become An Uber Driver?
Driving for Uber is a solid source of income, whether you do it full-time or part-time to supplement an existing revenue stream. Here are some of the biggest benefits to this kind of job:
- Flexible Hours – When you drive for Uber, you are in control of your schedule and the amount of hours you work. You could work full-time for eight hours one day, and just three the next – it’s up to you. Many Uber drivers are professionals in other industries who drive for Uber part-time to make some additional cash.
- Instant Earnings – Uber pays its drivers weekly, with all earned income transferred to your bank account automatically. The platform uses Instant Pay so you can cash out when you need to. Instant Pay allows you to discharge up to 5 times a day.
- An All-out Support – The Uber Help Center is a resource dedicated to teaching its drivers everything they need to know about the Uber app. The company also employs a 24/7 support desk to answer all your queries. From customer service to technical support and even financing, Uber has got you covered.
- Meet New People – People from all walks of life use Uber from college students, families, entrepreneurs, and tourists. Driving for Uber allows you to meet different people and widen your social circle.
- Surge Pricing – Uber drivers can earn more during peak hours and the busy season. If the app receives multiple ride requests within the same area, surge pricing or “dynamic pricing,” as Uber calls it, kicks in. It’s an excellent opportunity for rideshare drivers to make more money while providing rides when the demand is up. Riders can see where the highest fares will be through a color-coded heat map. All you need to do is to go these routes and make yourself available for bookings and start to make extra cash.
- Earn Money in Multiple Ways – Uber isn’t just a ridesharing app; the company also delivers food or packages through their UberEATS and Uber Freight programs. Some cities don’t even require aspiring riders to own a vehicle to start delivering. You can use bicycles or scooters to deliver these items! Uber riders can tap into UberEATS and Uber Freight to diversify their income.
- Guarantees – New Uber drivers might qualify for guaranteed earnings if you complete several trips in your area. For example, Uber gives you a $500 bonus after completing 50 rides within 60 days, on top of what you’ve earned with the 50 rides. You can also earn performance-based bonuses depending on several factors. Guarantees and bonuses are a great way to earn extra cash while driving.
- Some Cities Offer a Minimum Wage – New York City requires Uber and other rideshare companies to pay their drivers $17 per hour after including their expenses. The Seattle City Council passed a law that rideshare drivers should be paid a minimum wage of $16.39 per hour. The improved income levels make driving for Uber a more lucrative job. Even though this requirement made Uber increase its prices in targeted locations, both aspiring and existing riders now have an income guarantee to consider.
Becoming Uber Pro
Uber Pro is a rewards program for outstanding Uber drivers. You will get incentives for doing a great job. Here’s how it works.
Collect Extra Points
Uber drivers not only earn money for every successful booking, but they also earn points for each completed trip. Similar to a credit card, as you earn more points for completed rides, you’ll have access to a variety of rewards. Some trips let you earn more points than others. Trips completed during peak hours usually garner extra points.
Provide Quality Service
Uber is a company that is committed to providing excellent service. Uber drivers receive ratings from riders to ensure quality. You’ll be able to increase your rank and earn more rewards as you receive more and more good ratings from your passengers.
Level Up Your Status to Uber Pro
The higher your rank, the more rewards you’ll have access to. Drivers with a rating of 4.85 or higher can unlock Uber Pro rewards such as higher earnings per ride, cash back on fuel, discounts on auto maintenance, and more. Here’s a breakdown of the Uber Pro benefits:
- Priority Bookings – As an Uber Pro, you qualify for better trips. You also get discounts on gas when using an Uber debit card. These incentives vary according to your location and status.
- Roadside Support – When you’re an Uber Pro, you get access to services such as roadside assistance and discounts up to 25% off on car maintenance.
- Full Tuition Scholarship – Uber offers their Uber Pro drivers tuition to earn a degree at Arizona State University. If you’ve already graduated from college, or do not need to take advantage of this scholarship opportunity, you can transfer the reward to an eligible family member.
What’s Next For Me?
If driving for Uber is of interest to you, it’s free to register. Giggle Finance can help you with the funds you need to get started. If you don’t have a car, Uber can help with that, too. If you’re someone who has an entrepreneurial spirit, this could be a great avenue for you to explore. You set your own schedule and can work as much or as little as you want.