I’m an Uber Driver: Here’s How Much Profit I Really Make
Many people are drawn to Uber specifically to increase their income, not to replace it. Uber’s poll determined that most of its drivers work part-time hours and drive nine out of every 13 weeks of a quarter.
Suzi Sellers was working as a part-time fitness instructor in Morgan Hill, California, when she realized she needed another part-time job to make ends meet. In 2018, Sellers was making an average of $2,000 a month teaching step and weight lifting, and her goal was to find an added income that fit around her teaching schedule.
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Sellers said she had heard of other people who used Uber as a side gig, so she decided to try it because it seemed like a quick way to make money.
Saving on Gas
Sellers observed that the Uber app offered options for how many money withdrawals a driver wanted to opt in for daily, with a limit of five. She wondered why people would take out money so many times a day and quickly realized this was due to gas expenses during long periods of driving.
There were discounts offered on fuel at particular gas stations Uber partnered with.
"I typically just used whatever gas station was closest on my route," she explained.
Calculating the amount of money spent on driving out of the way of a route versus how much savings could be had at a partnered gas station was a part of her process.
Set Your Own Hours
After getting comfortable driving for Uber, Sellers began working longer hours.
“Sometimes I worked eight to 10 hours," she said.
Sellers added that 12 hours is the maximum you can drive without a break. After 12 hours, drivers have to clock out of the app and are not let back in for six hours. Uber states that this is for driving safety.
How You Get Paid
Time and distance are how the Uber rides are billed.
“It seems like we get two-thirds and Uber gets a third. People will tip, and it just gets added to your amount. You get the whole tip — there are no taxes on the tips,” Sellers said.
Sellers stated that she was able to double her income within one year of driving for Uber.
“I earned $2,000 a month that way. I would just drive to fill in if we needed an extra amount, like a phone bill due and needed to make an extra $300 over a weekend," she said.
After a year of driving for Uber, Sellers added Lyft to her car, which she said is discouraged by Uber but not disallowed.
“You can make more money because there might be a long trip request where you could make $100 on one app, and you can choose that over the shorter drive where you make less," she said.
Since 2018, Sellers has continuously driven for Uber, and is able to adjust her hours easily and immediately to suit her other work and her schooling. Sellers is currently in school for a bachelor’s degree in community education and leadership and enjoys being able to drive more over summer breaks and less during semesters.
A Flexible Way To Increase Income
Sellers said she is happy with the flexibility that Uber has brought to her finances.
“You make your own hours. And if you keep your info up to date, they’ll message the things that you need to do, [such as] if your car insurance is going to expire, or they need to see your driver’s license again," she said.
Outside of these requirements for drivers, Uber does a background check once a year. Sellers finds the flexibility of the schedule, the ease of receiving payment and the ability to stop and start working at her convenience make driving for Uber a financial gain. Driving for Uber has been, for Sellers, a reliable and easy way to add income to her budget.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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