You probably want to join Uber and want to become an Uber driver. And you want to know how much is an Uber driver or how much your uber will pay actually per day. Somehow, it is important to know the Uber rates so you know that this job is profitable.
You may earn $10 up to $100 per day, but you will never know about it. Fortunately, Uber gives you a chance to estimate the fare using the Uber app.
For additional information, The Uber driver can earn Uber $25 per hour. This value still under the Lyft driver, they can earn $35 per hour. Then, the Uber also take a commision cut more than Uber. Uber taking 25% of the final cost while Lyft only take 20%.
Uber Fare Estimation
How to estimate the fare of each ride on Uber? If you want to know the Uber rates, you actually can download Uber app and install it on your device.
After that, you just simply choose the destination and then you will see the fare estimate on the app. How to calculate the Uber fare? Anyway, you can check the following explanation about the Uber rates for your information to make an estimation of how much is an Uber driver pay actually.
How much is an Uber driver Earn
This question refers to Uber fare and the final commission after you finish your rides. Meanwhile, we can calculate the Uber rate or fare itself with some criteria such as Base fare, cost per minute, cost per mile, booking fee, Surge Pricing, Tipping (optional).
Photo Credit: rawpixel on Unsplash
What is a base fare? Base fare is a flat charged that will start at the beginning of the ride. Meanwhile, the cost per minute refers to the amount of money that a passenger will be charged in each minute.
Then, the cost per mile refers to the amount of fare charged in each mile. Next, the booking fee is an additional cost that belongs to Uber to cover insurance and safety, but it is not available o UberSUV and UberBlack.
Surge pricing value refers to a multiplier that will be added to the passenger’s fare. Lastly, the tipping refers to a tip that is given by passenger to the driver.
Somehow, if you want to get to know the Uber rate, you can actually use the Uber app that can be accessed by both driver and passenger.
As a driver, you can check how much is an Uber driver earn when you take your passenger to certain destinations. Thus, you can calculate how much money you will earn in one day if you take 10 passengers to the same locations.
The Calculation of Uber Fare
How much is an Uber driver or how much will get paid as an Uber driver? In fact, we can use this formula to calculate the Uber fare. Well, the formula is “Fare= Time = Distance”. So, the passenger will be charged in each minute and it also works on the miles.
As it is explained before, the total fare will be divided into a few variables including Base fare, booking fee, and surge pricing. In this case, the base fare and booking are already determined and they are fixed depending on the destination.
Meanwhile, the surge pricing will be charged just in case there are too many requests in the same location. For your information, the total fare does not belong to the driver overall. The driver may only get %75 of the total fare.
Let us take an example. You may take a ride that is only about 3 miles and you can drive your car with the passenger to the location within 15 minutes.
Let us say that the base fare is $2, the cost per minute is $0.50, and the cost per mile is about $1. Plus the booking fee is $1.20. In this case, the fare will be 2+(0.5×15)+(1×3)+1.20 that equals with $13.5.
But, this total fare does not totally belong to the driver. Because 20% of the total fare will go to Uber and the booking fee also belongs to Uber. In this case, the driver final fare will be 13.5×20% or equals with $10.5.
Meanwhile, the booking fee is $1.20, so the driver’s final fare is $10.5-$1.20 that equals with $9.3 for each ride. So how much is an Uber driver pay actually per day, if a driver can make ten rides every day, so he will earn $93 per day.