How Much Does Lyft Pay the Drivers – So you are thinking of becoming a Lyft driver and find out how much payment Lyft is? When driving with Lyft you can earn money every day with your work time as you want. Average, the Lyft driver makes about $17.5 per hour. By comparison that the Uber driver gained $2 per hour with the same survey. Payment can be released once a week and can use Express pay for an instant.
The popularity of rideshare is growing continually until the company’s drivers run out on the streets, especially for Lyft. In more than a few months, Lyft made a huge breakthrough because it can attract so many drivers. It seems like the money of the company is good for supporting life.
Due to this phenomenon, a survey has been done to dig up the data to answer the most question people asked, How much does Lyft pay the drivers? Here is the discussion dealing with some Lyft facts such as the factors affecting the income, Lyft pay reviews, Lyft bonuses, and its weekly guarantee. The important thing is the facts are derived from the real Lyft drivers.
How Much Does Lyft Pay the Drivers Actually?
A recent survey is conducted to get interesting information about the drivers’ earning. It involves 1,150 drivers who came to collect the data about the amount of their money make in every hour. The result is surprising!
They make about $17.50 per hour on average! It is 2-dollar higher than Uber drivers. There is a note to this result, though. It is the overall income that the drivers include from both average tips and rideshare services.
This survey shows that different income is influenced by the age range. The drivers of 18 to 30 years old tend to make money a bit more than the other age ranges. They make around $18 per hour on average.
It is great but regardless of age, the average wage of Lyft is better than the minimum wage in other states. The estimation is taken based on the fact that more drivers under 40 work in the rideshare industry.
Factors Affecting the Lyft Driver Earnings
The main factor affecting the Lyft drivers’ earnings is the hourly wage variations during a month. It deals with the amount mentioned previously and it does not include the tips. If the profits include tips monthly, the Lyft drivers will earn more money in a month.
Rideshare drivers should work for only one company. According to Ridester, the drivers who work for one company will earn more because the wage median for a rideshare driver is really low.
Earnest reveals that usually, the drivers earn not more than $500 per month with the details: $210 from Lyft and $155 from Uber. It is not specified as business expenses, though.
The median wage is obtained from taking all of the wages from the highest to the lowest amount, or vice versa. Then, take the middle number which has the same distance from the left and the right. The median wage is used to exclude the outlier numbers and it is not the average.
How Much Lyft Bonuses?
Extra money aside the tips from the passengers can be gotten from the prime time driving. The drivers can monitor and take the monetary bonus which is applied to a ride’s final price in a percentage.
The company uses a way to encourage its drivers to granting the passenger demands at that time which is higher than the number of drivers.
Lyft Pay Weekly Guarantee
This product also motivates the drivers driving passion into a settled career. The Weekly Guarantee is earned by completing a certain number of trips within a certain timeframe. The drivers who cannot meet the metric or meet it but earn less than the guaranteed wage will get the promised specified money.
However, if the drivers earn more than the guaranteed earnings, no noteworthy will happen. The announcement of the Weekly Guarantee is sent through the email and states the amount of the money and the number of rides they need to complete. If the drivers meet the qualifications, they will get the bonus amount showing on their promotions tab.
Those are the facts that deal with how much does Lyft pays the drivers. Various paths are given to encourage drivers to earn a lot of money. However, bear in mind that the important thing is to upgrade your ability as a driver. You will get many passengers if you know about the city well, the passengers, or the way to manage your positive mood during the day. The best service earns the big bucks.