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It started as a simple idea: Tapping your phone for a ride.
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Now, the ride-hailing service Uber has taken off, employing 5 million drivers and delivery drivers who are offering their services at all hours of the day and night to hundreds of millions of people all around the world.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| UBER | UBER TECHNOLOGIES INC. | 29.61 | -0.97 | -3.17% |
Since 2009, the company has been hiring drivers around the world. And the company has since expanded, by offering food delivery, and electric bikes and scooters.
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Moreover, it has become somewhat of a go-to option for those looking for a job with flexibility. The company allows drivers to choose when, where and how they drive, according to the company's blog.
That being said, the amount drivers earn is highly dependent on when and where they chose to hit the road.
It is hard to pinpoint how much a driver earns because of this. However, U.S. drivers earned an average of $21.07 per hour before Uber's service fee of 20 to 25 percent between January 2015 and March 2017, a spokesperson for Uber told FOX Business.
However, the minimum drivers earn in New York City, by law, is $27.86 per hour, according to Uber, adding that this figure is after Uber's service fee is deducted.
However, a driver's payday is significantly affected by Uber's surge pricing. An area will surge when the demand for a driver is higher than driver supply, creating a steeper fee for riders. Although, drivers will make out far better.
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Drivers who drive more, but not during busy times or areas, may make less than drivers who drive less but mainly stick to surge areas.
Uber will always alert drivers when there is a surge so they can head towards that area. What's more, Uber will share trends with the driver, showing them what areas and times usually see a surge so they can plan their trips accordingly.
Aside from surges, Uber noted that drivers can expect the same rates to apply for time and distance.
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June 27, 2020 at 04:05AM
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How much do Uber drivers make? - Fox Business
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