Are Lyft's New Pay Updates A Game Changer For Drivers?

Lyft just announced several updates and changes coming to drivers regarding earnings. Join RSG contributor Sergio as he goes over the new announcements and what to expect. Make sure to share your thoughts and watch Show Me The Money Club with Sergio and Chris Tuesday 6pm est/3pm pst for more with special guest Jeremy Bird, Lyft's EVP of Driver Experience.

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About The RideShare Guy:

I'm Harry, the founder of The Rideshare Guy. I started driving for Uber and Lyft in 2015 and eventually quit my day job as an aerospace engineer to run The Rideshare Guy full time.

These days, I'm a trusted media expert on all things rideshare and have a number of contributors across the country who are all driving for Uber and Lyft and other gig companies like Instacart, Doordash, and Postmates.

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#LyftDriver
#Updates

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[Therideshareguy]

What do you think about these updates?
✔Make sure to watch Show Me The Money Club (10/8 at 6pm est/3pm pst) for special guest Lyft's EVP of the Driver Experience, Jeremy Bird.

[gospelnomadgirl]

I found when in a bonus zone, it’s not a real bonus because it drops the base pay to below $3 per ride. When under incentives, they seem to pay less per ride also—so the incentive isn’t an incentive… it’s the actual pay you should get without the incentive.

[mgicdncer]

What's the point of working at a rate of $20 an hour, when you are typically getting $3.81 every half hour or longer. After doing this, for an hour, you are not getting $21.It's closer to $10.

[scoopflag]

Thank you Sergio! Great that you stand up for drivers. Uber and Lyft need to be held accountable.

[waffen]

The whole business has become a total rip off for the rider and the driver ..At the end of the day we make the uber executives rich and we destroy our cars for no profit at all !

[Ruetheworld]

My city had previously displayed rate per mile for trip requests, which I found useful. Last week it switched to rate per hour, which I find completely useless and think it is purposefully obscuring information under the guide of helping us.

[wickdwzrd]

I'm so tired of them (Uber/Lyft) trying to explain the pay structure in terms of dollars per hour instead of dollars per mile. They make it intentionally confusing.

[seqquim]

I not gonna change how I work..:
I don’t do extra stop or trip with 2 stops.. If the customers add I stop I cancel the trip and ask to get out of the car…
No long trip …

[TrendingHeadlinesTV]

If they just kept it simple and transparent, like when they first started, 80/20; 80% to the driver, everyone would be happy!! They keep blowing smoke!

[buddysteve]

BOTH COMPANIES should be investigated by the FBI! Well, actually the FBI we had 15 years ago when they were top-notch!! These companies should be considered a fraud and a scam!!

[OB-The-Only-]

5% over they just gonna cut the fair of the original price 5% less. I’m going into my 10th year as a driver here in Massachusetts every couple of years we take a big pay cut somehow and it’s so sickening. I only drive part time now to pay for my vacations and automobile payments.

[larryl]

Lyft had to first lower everyone's pay to a ridiculous amount in order to create this preferred driver and give them back what they shaved off over the last few weeks and months. This isn't giving us 5% more this is giving us back the 5% they tookso they could offer us a 5% incentive.

[Luxeinboxinc]

It's insane..today I had my first $2.43 ride....how much lower will it go. We get less than 40% of fairs. Customer gett8ng ripped. We don't even get cancellation fees anymore for some trips. Nothing will change. They have too many drivers.

[TravelSpottermc]

I am actually making solid money on lyft last few months, completely stopped Uber, I love this new feature of hourly pay estimate, I made over $31 an hour using that last two days. Lyft is destroying Uber and I love it

[ismailkhan]

We destroy our cars for no profit at all of Lyft

[kingrick]

All they gotta do is up the mile and minute rate and also give Drivers a ride challenge every week between 40 to 60 rides get between 150 to 250 take that bonus money save that money on car wear n tear and get back money you use on fuel this will solve all the problems

[homerpez]

The problem with ALL of Lyft's "improvements" and "transparency" is that it's still based on their own fuzzy math.

Hourly rates are based on trips taking EXACTLY the estimated time. If you have to wait on a passenger at all, that calculation nosedives quickly.

Most rides are pinging at UNDER the MINIMUM active rate for drivers in New York.

Their so-called "Turbo" has to be the MAXIMUM AMOUNT of 40% just to match what Uber is paying for a similar ride.

They claim to pay extra for "wait time, " when they don't.

I've had trips take more than 5 extra minutes to complete, I've never seen them adjusted upwards.

This is why I only drive for Lyft on rare occasions, usually when I'm desperate.

[whiplash]

Just the video I was looking for. Thanks for this Sergio.

[HES]

Every 5th of the month don't accept rides under $5.00. O 2:34 n every 10th of the month don't accept rides under $10.00. Every day between 5pm-7pm EST Turn off the app. Until Riders start feeling the pain also, Uber / Lyft won't care. Start in November. If you agree like and share.

[buddysteve]

That 5% preferred should be more like 20% which will give you the same pay as what Uber would offer for the same trip!