How Do Lyft And Uber Drivers Calculate Their Earnings?

How should rideshare drivers like Uber and Lyft drivers figure out their earnings? Join Harry, Sergio and Chris as they talk about how some drivers talk per hour, per mile or something else.

Join the conversation with the Show Me The Money Club with Sergio and Chris live Tuesdays 6pm est/ 3pm pst.

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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.

The RideShare Guy has appeared in The New York Times, The Wall Street Journal, CNN, CNBC, NPR, 60 Minutes on CBS TV, The Washington Post, Wired, Forbes, SFGate, and hundreds more.

The RideShare Guy has interviewed top gig economy leaders such as:

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[HVYBASS]

i average $30 an hour in my market...no one is going to pay a driver that hourly rate for listening to music and drinking Starbucks while driving Julie to the airport...

stop asking for hourly guys !!!

[pesttechDoc]

You guys missed the mark and spoke only about fuel as an expense, what about the car payment? Insurance? Car washes etc??? What the heck guys cmon and figure all expenses and that hourly rate will be much much lower.

[lawbmeify]

Is there an app that will calculate trip earnings before I accept the ride

[williamcarothers]

I don’t worry about the depreciation much. It’s unrealized based on planning to hold the car long term.

[meflyone]

What about ROI? That's the way I measure my income. I can't do hourly or miles. Our markets are too different to compare. I'm sure you guys are very active but out area is only active during student season.

[eldondedon]

4:30 yeah but with a w2 job you would have stable pay for that commute.

[raheemonibudo]

If I make $576.65, and I drove 454 miles, and my deduction is $283.75 (0.625 per mile), and my tax is $87.87 (30%). How much is my take home for the week? Thank you

[williamcarothers]

I don’t do per mile. Sometimes I look hourly. Sometimes per trip. Sometimes I just look at the total because ultimately that what’s matters most. Today I filled up the tank. It was $66 but I wasn’t quite on empty. So let’s call it $80. That should equate to $500. Sometimes I try go for $1 per minute which $60.

[ironwood]

I have a weekly $$ goal. It’s 25% more than I need which covers gas, etc. not too complicated.