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Seems off, this must be taking into account wear and tear on the vehicle. Most drivers don't care about that bc these jobs are for side cash and temporary.
Uh yea? My first post said I make 21/hr gross and 10/hr net (after taxes and expenses). Theirs said 3.37 net expenses but pretax.
You can easily do the math to see what the MIT think is gross since they provide a revenue/mile, expense/mile and net wage per hour.
Revenue/mile= .59
Expense/mile= .30
Profit/mile= .29
Net Wage(profit)/Hour= 3.37
Miles/Hour= 11.6
11.6 Miles/hr x .59 revenue/mile= 6.84/hr Gross
So the Standford study (who actually has the data) is saying 21/hr gross while the MIT "study" (asking people numbers they aren't tracking well) is saying 6.84/hr gross.
Also keep in mind, I disagree with MIT's expense per mile at .30. I assume the standard mileage rate of .545 which is .245 more than what they have.
So their revenue and expense numbers are pretty bad. Like I mentioned, the only statistic they have pretty accurate but they don't directly say is the miles/hour of 11.6. I just looked at mine and it's 11.68.
Exactly. This is a problem that would work itself out if just left alone. Removing eligibility of government benefits would also work to this end as well because that's what allows so many people to work at artificially low rates. Instead of raising minimum wages remove the factors that lead to people working for artificially low rates.This.
If the market is oversaturated with drivers then the drivers will quit which will raise the wages
Hey, so I'm just curious -- in your shithole country do they actually check references or is a Juan on the spot enough?
I mentioned it because the gender gap study doesn't account for the Uber service fee while the wage study is speaking only to drivers after that service fee has been removed so that self-reported figures will naturally be 20-25% lower.
Also, the gender gap study is giving the average while the wage study is using a median value. Given that there is a floor on Uber compensation, $0, but no ceiling it's possible that the average number could be much higher than the median. Probably because a few markets could be highly profitable and skewing the averages since high earners will continue driving while the low earners will gradually drop out (which is what the 6 month attrition rate suggests is happening - 2/3 of drivers quit by 6 months).
So I can believe that both numbers are true. The average per hour compensation is $21/hr before all of the expenses, including Uber's cut. But half of the driver's are making less than $4.00 hr with some undetermined percentage (maybe following the 80/20 rule) doing very well, possibly exceeding $15/hr after Uber's cut.
I'm highly skeptical of this survey's result.I asked my Lyft driver last night how much he makes an hour. He told me he averages 15 dollars working for Lyft which is to be fair a different company.
Ditto. I work uber nights/weekends in a college town and I clear $12-16/hr after factoring out 20% for taxes plus fuelEh I'm a little skeptical of this. At least with Uber here in Toronto, not sure about other places. Maybe this is just for the US. But why the hell would people quit their jobs to drive for Uber full-time if they're making such a low wage? Because I've talked to quite a few drivers who have told me that's just what they've done. I mean how is Uber still around if 1/3 of the drivers are losing money doing it?? There's some Hollywood accounting going on here, or it's a case of "lies, damn lies, and statistics".
Read the methodologyQuick someone tell me about the wonders of the unregulated market and how competition works for everybody.
And while, you're at it, make sure to dump on the medallion system that allowed cabbies to make a living for generations.
https://www.npr.org/sections/thetwo...g-a-median-profit-of-3-37-per-hour-study-says
Quick someone tell me about the wonders of the unregulated market and how competition works for everybody.
And while, you're at it, make sure to dump on the medallion system that allowed cabbies to make a living for generations.
https://www.npr.org/sections/thetwo...g-a-median-profit-of-3-37-per-hour-study-says
what are your thoughts on working amazon flex? Im trying to make some extra cash.I don't do Uber or Lyft but the best way to make the gig economy work for you is to buy a car specifically for the gig.
I drive for Amazon Flex and I use a 2001 Jetta. The car is worth maybe 800 dollars, and at this point, it's paid for itself. But Uber and Lyft are a scam for people driving new cars.
also depreciation happens anyway.