Lyft drivers make $15 – $18 per hour on average which estimates at $600 – $720 for 40 hours per week. This cost estimation excludes tax and other expenses to be covered. However, many factors are put into consideration when calculating how much Lyft drivers make. Driving with Lyft is so flexible that drivers can decide whenever they want to work.
Since the work schedule for Lyft drivers is flexible, how much do they make per hour? This article has everything you need to know about the amount Lyft drivers make, scroll down the paragraphs below for further information.
What to know about driving with Lyft?
Before considering how much they make, let’s discuss how Lyft drivers operate on a day-to-day basis and how they work as their drivers.
It is a rideshare transport services like others, do not pay their drivers an hourly wage or a monthly salary. Drivers get paid as they work as independent contractors and decide when to work and how to work not the company dictating for them. However, for every passenger a driver carries, they get a certain percentage of the transport fare.
How do Lyft drivers work?
Below is a step-by-step description of how Lyft drivers work;
• They sign in to the Lyft app
• Once there is an order for a ride, they accept the ride request and go to the location.
• They deliver the ride and get paid.
The more they work, the more they get paid and vice versa, however, Lyft collects the specified percentage irrespective of how short or far the distance they cover.
How much do Lyft drivers make?
Lyft reports show that the national hourly wage is $18.83 per hour but other private studies and research has it that, Lyft drivers earn $17 per hour on average. They can, however, earn up to $24 per hour including tips and bonuses.
These earnings do not include tax and other expenses. According to Lyft, their drivers are responsible for the proper maintenance of their vehicles, this implies that, from their hourly wage, they pay for their vehicle maintenance and servicing.
Every ride fare includes the cost per mile(distance rate), cost per minute(time rate), and base fare. They takes a commission and a certain percentage of each successful ride and pays the drivers for the miles covered and time spent.
The exact amount Lyft drivers make depends on some factors like;
Several factors determine how much a Lyft will make, daily or weekly wage can either increase or decrease based on location, car maintenance and servicing, tips from customers, and service tiers.
• Location.
Location determines how much a driver earns because each city has its pay rate. Hourly Lyft driver’s rate varies from city to city. Lyft drivers in busy cities like New York, and Los Angeles earn more money compared to those in less busy cities. Busier places naturally have more customers because you always get a ride request.
Drivers in locations with lesser people often underwork themselves because there’s no one to order a ride request. On average, a Lyft should work 40hours/week, anything less than that affects the income.
• Bonuses and promotions.
The company offers a bonus program for their drivers such that if they have 40 rides per week, they earn $500 extra. It randomly schedules promo and bonus periods to give hardworking drivers encouragement. Also, the bonuses earned are 100% for Lyft drivers.
• Daily/weekly working hours.
One important thing about driving for Lyft is that, the more the number of hours you work, the more you earn hourly and vice versa. The drivers who spend more hours driving will automatically earn more than those who spend lesser time.
• Tips.
Lyft drivers often get tips from customers so they don’t have to inform the rideshare company. However, not everyone gets tips, depending on the area where you are you can get tips.
Conclusion
Drivers make up to $18 per hour on average excluding tax and vehicle maintenance. However, they can make up to $24 per hour or more depending on factors like location, tips and bonuses, and weekly working hours. There is no exact amount a Lyft driver can make, it just depends on the factors surrounding such a driver.
How convenient is Lyft driving?
It is a very flexible rideshare app that provides drivers with options to operate at their convenience and even engage in other activities as well. Drivers drive their cars on their time, no one decides for them.
Is driving with Lyft expensive?
Depending on the nature of your vehicle, driving with Lyft can be expensive or not. Vehicle maintenance and servicing, buying of gas, and other expenses often take a huge amount of wage received.
