Jack Tse, a new Uber driver, saw his first week's net take-home pay reach just $19.41 after 11.13 hours of driving. Tse — who made upwards of $800 at Page A Ride, the last car service he worked, according to the pay stub he showed me — only made enough to cover half the deposit so Uber only charged him $150 for that week.
How does Uber pay drivers? Uber advertises that drivers can make $50,000, $75,000, or even $100,000 a year driving passengers around. But as a NerdWallet analysis showed over a year ago, you’d need to make tons of trips every week to approach those levels of earnings. And that was before Uber cut its rates.
A free inside look at Uber salary trends. 2,140 salaries for 411 jobs at Uber. Salaries posted anonymously by Uber employees.
How do drivers with Uber pay taxes? As an independent contractor running your own business, taxes from your earnings are not withheld by the federal or state government.
Uber’s riders pay the driver in cashless installments using the rider’s credit cards or Paypal. Collection and crediting is done after each ride. For Uber Drivers it is a little different. Each week 80% to 75% of the driver’s share is wired to the driver’s bank account.There are no payments done through PayPal.
That works out to about $7.20 per hour (assuming a 40-hour work week), which would still leave New York Uber drivers ahead, but would seriously cut into Uber’s advantage across the board if costs in other cities are similar.
Salmon and Singer took $90,000 and broke it down by factoring in taxation, vehicle cost (Uber doesn’t supply a car), typical hourly rates, vacation time, and general expenses like gas and car insurance. Their esitmates for Uber drivers’ take-home pay? Between $30,000 and $70,000.
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