I've started driving UberX in Sydney as a personal experiment regarding it's viability for me, and done around 44 hours during peak ( price surge ) times only. These hours can see rates going up by as much as x 1.3 to 2.5 times the normal rates due to demand. In the first month Uber is guaranteeing drivers $30 per hour for covering peak periods.
The first 44 hours, I have worked, over 2 weeks [ approximately ] on the road has given me approx. $1684 - so that kinda equals $38 per hour. That looks impressive.
But here are some of the costs, which makes the income look pretty ordinary :
1. Uber fees are 20% - so that is minus $336
2. Fuel - $240 [ my car is probably about 30 % less economical than a normal 4 cylinder vehicle ]
3. Depreciation, cleaning, tyres and maintenance - no real idea here, but say $20 on this figure I earned
4. Insurance and rego - neutral - no additional cost on having a vehicle, but say if you have a dedicated vehicle $20
5. Tolls - you don't get paid for tolls when going to meet a job, only when the rider is in the vehicle and it adds up !! Harbour Bridge, M5 , Hills , Eastern distributor, etc etc, say $80 approximately
$1684 minus $696 costs = $988
Net pay per hour @ 44hrs is $22.45 [ 1068/44 = 22.45 ]
As a pizza delivery guy, I net $26 per hour including typical tips in similar hours.
So the claim by Uber of $30 per hour, isn't the full story. Added to this, is the risk of incurring police fines, the usual demerits caused by additional driving activity, and damage to your personal vehicle, such as passenger damage, drunks vomiting in cars and time and inconvenience rectifying issues.
Anyone care to dispute my figures, share their experiences or give their analysis as to whether it's a really big incentive to drive UberX for a living based on the numbers ?
Thoughts ?
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