Uber is the most valuable tech startup of the current era. Gone are the days when you had to wait endlessly for a cab to come and then you approach them. Now you can click on a button in your smartphone and you get a cab right at your doorsteps. No hassles, easy payment and quick service, Uber assures you all of that. While being a customer, you get a lot of easy services at your helm. But when you see the other side of the story, it is quite interesting as well.
For those who own cars and want to drive for Uber can earn a good amount of money on the side. Some people have also taken it as a profession and many others have assigned drivers on their owned cars for Uber. You would see a lot of people driving for Uber because it has its own perks associated with it. If you have always imagined how much do Uber drivers make, we have the right answer for you. Although it completely depends on a lot of different factors and variables, there is good money to earn in Uber. The following factors play a great role while you are trying to earn some money by driving for Uber.
The car you own
As you might have noticed, there are different options for those who want a ride. All the different options depend on the car they want to choose. So it depends on the car you own through which you want to ride for Uber. If you own a good car, you are liable for greater earning as the customers pay better for a good luxurious car. The base fares and the per kilometer fare drastically increases as the customers choose a higher end car.
The number of hours you drive
This is a direct factor of how much you can earn through Uber. The more time you spend driving for Uber, the higher you earn, it is that simple. There is also additional bonus if you put more number of hours for continuous days. So, you need to put in as much hours as you can in order to earn a good amount of money. Most of the drivers that work with Uber work as full time drivers which ensures that they earn a handsome amount. There is probably no other service that offers you this much money for the number of hours you put into it.
The city you live in
As we all know, there are different prices for Uber in different cities. So you need to check the prices of Uber in the city you live in. The commission rates for Uber also differs which affects the total amount you can earn. Usually, 20% is taken by Uber as a convenience fee so the driver gets the rest of the amount. Since Uber has also started accepting cash in some cities, it has made more people to come and take a ride through Uber without having to transact through credit or debit cards.
Shorter rides are more profitable
Since the base fares are less for Uber and per kilometer charges start after a time, when you take shorter rides there is more profit that you can make. So, as far as possible, try to take shorter rides. The longer the ride is, the percent of profit goes down significantly. When you take short rides, the base fare adds up and you earn a greater amount. Hence, a bigger share of profit since you haven’t used up much fuel. Although it is not profitable for the customer to take shorter rides but it profits the drivers.
Mileage of the car
Unlike other services, for Uber you need to have your own car and need to fuel it with your money. So a car with better mileage will earn you more than what a car with normal mileage would do. To ensure better profitability you must make sure that your car has good mileage and provides good fuel economy.
Number of rides you get
It also depends on the area you are trying to drive your car. At some places, there might not be people who are choosing Uber so in these cases you have to be idle for that duration. So the time you put in the service gets wasted and you don’t have to do anything. But this is a small factor and there will be very less time when you are unoccupied being an Uber driver.
There are several referral codes that you can put while joining Uber which can help you in getting a joining bonus. The joining bonuses have been claimed to be around Rs. 8000( $120) – Rs. 20,000 ($350) which is a huge sum. So, whenever you are going to start your journey with Uber make sure to use the referral codes so that you get a huge joining bonus. Uber pays you an extra bonus if you drive for 12 hours in a day. This will be a full time job but there is much to earn so most people don’t hesitate from it. Apart from what you make by driving the car, you can get a good amount of bonus every now and then for more efforts.
Final say: How much money does an Uber driver earn each month?
After considering these factors, the total amount that an Uber driver can earn each month ranges somewhere along the lines of Rs. 70,000($1100) to Rs. 1,20,000( $2000). This range can also be below or above since there are many factors that contribute to the final amount. However, it has become one of the highest earning jobs for people who want to drive and earn. The rides are very convenient and comfortable as all of them are AC cab services. So for an average driver in an average month with all the factors in consideration, an Uber driver can easily earn at least Rs. 60,000( $1000).