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Earning in Tampa Market

My earnings for last week was $706.50 I worked 7 days for a bout 65 hours and put on 1065 miles and that comes out to about $0.65 a mile before expenses... This is was my first full week. How is everybody else doing?

Charles
 

uberguru

Member
I usually do over $700.00 in about 50 hours, the difference is how many surge fares you get and long rides
 
  • Thread Starter Thread Starter
  • #4
So the commercial is a out right lie? But I knew this the first day I was out on the streets.... The fares are really low and the per minute waiting is only $0.13 per minute.... I need the extra money so it works for know. But drivers may have to band together to make surges happen....
 

UberXTampa

Well-Known Member
The rates are ridiculously low.

It is very difficult to make a profit with all the short rides and no surges.
 
  • Thread Starter Thread Starter
  • #6
We need to band together and turn the app off every hour on the hour to push a surge in the market. The $4.00 rides are really $2.60 for us... at least gas prices are down really low....
 

UberXTampa

Well-Known Member
We need to band together and turn the app off every hour on the hour to push a surge in the market. The $4.00 rides are really $2.60 for us... at least gas prices are down really low....
$4.00 - $1.00 (safe rider fee) = $3.00 - $0.60 = $2.40 and not even $2.60

minimum fare as well as time value must change. Time value must be at least $.20/minute.

Many trips are losing us money.
 

themonos

New Member
That's $10-12 an hour how is that good ??. I was making $25 to $30 in 2014 . It's getting less and less here in tampa every year due to more drivers.

My advice drive to Orlando in the weekends it's worth the drive was there 2 weeks ago did $400+ Friday and Saturday working 20 hrs
 

PowerTrip

Active Member
This is just a small sample for Tampa Bay Partners that use SherpaShare.
The average trip would be $9.76. The average income for the 199 drivers is only $102.58 for the week.
IMO not very good.
It also appears that not all 199 drivers using this app drove the same day.


upload_2015-9-26_11-53-52.png
 

Attachments

UberXTampa

Well-Known Member
Today I only had 2 fares since 6 am. Not to mention 1 min fare and other like $10.00 something...

There are a couple more drivers cutting into my territory.

not getting any better lately.
 
  • Thread Starter Thread Starter
  • #11
This is just a small sample for Tampa Bay Partners that use SherpaShare.
The average trip would be $9.76. The average income for the 199 drivers is only $102.58 for the week.
IMO not very good.
It also appears that not all 199 drivers using this app drove the same day.


View attachment 14028
That is a cool app... I have been using Miles IQ to keep my driving record for taxes...
 

PowerTrip

Active Member
Miles IQ (paid) or SherpaShare (free) is a knock off of the other, not sure who copied who. But SherpaShare is more tailored for Driving UBER/Lyft and others.
 

TOMLREED

Member
Uber is on fire. It has a $50 billion market cap and countless happy riders who can readily articulate why using Uber is better than taking a cab or driving their own car, or maybe even owning their own car. And the Uber drivers get to be their own boss and choose the hours when they want to drive.

What’s not to like?

But things start to look differently when you begin to ask some questions:

Who is better compensated — an Uber driver or a crew member at McDonald’s? How much does an Uber driver earn?

Uber drivers do have the freedom to choose the hours they drive. They have this freedom because they are “independent contractors,” not employees of Uber.

But, as it turns out, this freedom is not so free. According to my findings, there are three expensive costs that they incur for this freedom:

♦  No employee benefits from Uber, as the drivers are “independent contractors.” That means no medical insurance, no dental insurance, no vision insurance, no prescription drug coverage, no life insurance, no disability insurance, no unemployment insurance, no 401K, no vacation, no sick leave, no paid holidays, no tuition reimbursement, and certainly no Uber stock options,

♦  No employer-matching Social Security/Medicare tax contribution. Uber does not pay the 7.65 percent of Social Security/Medicare taxes that employers pay for employees, which means the Uber drivers pay an additional 7.65 percent via the Self-Employment Tax (15.3 percent vs. 7.65 percent).

♦  No reimbursement for car expenses. The IRS allows 57.5 cents per mile deduction when using a car for business, which is based on real world costs of operating a vehicle. This is a major expense for Uber drivers directly proportional to how many miles they drive.

Regarding Uber drivers’ earnings, a paper was published in January, co-authored by an Uber economist and titled “An Analysis of the Labor Market for Uber’s Driver-Partners in the United States.”

From the data in that paper one can readily derive the “median” hourly rate of an Uber driver to be $17.71. This figure was computed based on the paper’s summary of median hourly rates across four bands of hours worked per week, including 1-15, 16-34, 35-49, and greater than 50.

Let’s now compute the Uber driver’s hourly rate after adjusting for mileage expenses and the effect of paying the 15.3 percent Self-Employment Tax in place of the 7.65 percent Social Security/Medicare.

Assume that a full-time driver logs 30,000 miles per year. That’s less than 15 miles per hour based on a 40-hour week. Thus, it costs an Uber driver 30,000 x .575 = $17,250 per year for mileage expense. Working full-time for 52 weeks per year (Uber drivers get no paid vacation) at 40 hours per week (2,080 hours), yields an annual gross compensation of $36,837. Subtracting $17,250 for car expense yields $19,587.

Deducting the additional 7.65 percent because of the Self-Employment Tax yields ($19,587 x .0765) = $18,089, which is $8.70 per hour before income taxes.

So, according to my calculations, Uber drivers earn a median of $8.70 per hour.

Published reports say entry-level full-time McDonald’s employees, known as “crew members,” earn an average hourly rate of $8.25 per hour.

They also receive benefits that include medical, dental and vision insurance, prescription drug coverage, educational assistance, vacation, paid holidays, life insurance, short-term disability, 401K, and unemployment insurance. These employee benefits are certainly worth more than 45 cents per hour ($8.70 to $8.25).

So we can conclude that the average entry-level McDonald’s employee makes more than the “median” Uber driver.

From this analysis we can now begin to understand why Uber has a $50 billion market cap. Who knows how many thousands of dollars Uber saves because it pays no benefits to the drivers. I conservatively estimate Uber is saving at least $25,000 per year per equivalent full-time employee.

Because Uber has successfully, until now, been able to burden the independent contractor drivers with much of the expense of doing business, it is valued very highly by investors and venture capitalists. Probably a nice handful of folks are getting very rich, or much richer than they already are, because of this fact, but it sure doesn’t include any of the Uber drivers!

Scott Myers has lived in Lutz for the past 23 years. He is married with four children and recently retired from a 44-year career in information technology.
 

Tampabumpkin

New Member
Uber is on fire. It has a $50 billion market cap and countless happy riders who can readily articulate why using Uber is better than taking a cab or driving their own car, or maybe even owning their own car. And the Uber drivers get to be their own boss and choose the hours when they want to drive.

What’s not to like?

But things start to look differently when you begin to ask some questions:

Who is better compensated — an Uber driver or a crew member at McDonald’s? How much does an Uber driver earn?

Uber drivers do have the freedom to choose the hours they drive. They have this freedom because they are “independent contractors,” not employees of Uber.

But, as it turns out, this freedom is not so free. According to my findings, there are three expensive costs that they incur for this freedom:

♦  No employee benefits from Uber, as the drivers are “independent contractors.” That means no medical insurance, no dental insurance, no vision insurance, no prescription drug coverage, no life insurance, no disability insurance, no unemployment insurance, no 401K, no vacation, no sick leave, no paid holidays, no tuition reimbursement, and certainly no Uber stock options,

♦  No employer-matching Social Security/Medicare tax contribution. Uber does not pay the 7.65 percent of Social Security/Medicare taxes that employers pay for employees, which means the Uber drivers pay an additional 7.65 percent via the Self-Employment Tax (15.3 percent vs. 7.65 percent).

♦  No reimbursement for car expenses. The IRS allows 57.5 cents per mile deduction when using a car for business, which is based on real world costs of operating a vehicle. This is a major expense for Uber drivers directly proportional to how many miles they drive.

Regarding Uber drivers’ earnings, a paper was published in January, co-authored by an Uber economist and titled “An Analysis of the Labor Market for Uber’s Driver-Partners in the United States.”

From the data in that paper one can readily derive the “median” hourly rate of an Uber driver to be $17.71. This figure was computed based on the paper’s summary of median hourly rates across four bands of hours worked per week, including 1-15, 16-34, 35-49, and greater than 50.

Let’s now compute the Uber driver’s hourly rate after adjusting for mileage expenses and the effect of paying the 15.3 percent Self-Employment Tax in place of the 7.65 percent Social Security/Medicare.

Assume that a full-time driver logs 30,000 miles per year. That’s less than 15 miles per hour based on a 40-hour week. Thus, it costs an Uber driver 30,000 x .575 = $17,250 per year for mileage expense. Working full-time for 52 weeks per year (Uber drivers get no paid vacation) at 40 hours per week (2,080 hours), yields an annual gross compensation of $36,837. Subtracting $17,250 for car expense yields $19,587.

Deducting the additional 7.65 percent because of the Self-Employment Tax yields ($19,587 x .0765) = $18,089, which is $8.70 per hour before income taxes.

So, according to my calculations, Uber drivers earn a median of $8.70 per hour.

Published reports say entry-level full-time McDonald’s employees, known as “crew members,” earn an average hourly rate of $8.25 per hour.

They also receive benefits that include medical, dental and vision insurance, prescription drug coverage, educational assistance, vacation, paid holidays, life insurance, short-term disability, 401K, and unemployment insurance. These employee benefits are certainly worth more than 45 cents per hour ($8.70 to $8.25).

So we can conclude that the average entry-level McDonald’s employee makes more than the “median” Uber driver.

From this analysis we can now begin to understand why Uber has a $50 billion market cap. Who knows how many thousands of dollars Uber saves because it pays no benefits to the drivers. I conservatively estimate Uber is saving at least $25,000 per year per equivalent full-time employee.

Because Uber has successfully, until now, been able to burden the independent contractor drivers with much of the expense of doing business, it is valued very highly by investors and venture capitalists. Probably a nice handful of folks are getting very rich, or much richer than they already are, because of this fact, but it sure doesn’t include any of the Uber drivers!

Scott Myers has lived in Lutz for the past 23 years. He is married with four children and recently retired from a 44-year career in information technology.
Rollin in dough!!
 

Tampabumpkin

New Member
Today I only had 2 fares since 6 am. Not to mention 1 min fare and other like $10.00 something...

There are a couple more drivers cutting into my territory.

not getting any better lately.
They also receive benefits that include medical, dental and vision insurance, prescription drug coverage, educational assistance, vacation, paid holidays, life insurance, short-term disability, 401K, and unemployment insurance. These employee benefits are certainly worth more than 45 cents per hour ($8.70 to $8.25).

So we can conclude that the average entry-level McDonald’s employee makes more than the “median” Uber driver.
They also receive benefits that include medical, dental and vision insurance, prescription drug coverage, educational assistance, vacation, paid holidays, life insurance, short-term disability, 401K, and unemployment insurance. These employee benefits are certainly worth more than 45 cents per hour ($8.70 to $8.25).

So we can conclude that the average entry-level McDonald’s employee makes more than the “median” Uber driver.
 

Snowtop

Well-Known Member
There are a couple more drivers cutting into my territory.
Not sure what 'your' territory is. Aren't we free to go anywhere we wish. Maybe these drivers have been with Uber since the beginning and you are cutting into there territory.
 

724999

Active Member
It was easier to make money when uber was illegal or quasi illegal-less drivers-
Not to say it cant be done- anything can be done- i drive the minimum just to keep my status- have a good busy full time job- keeping my hat in the ring in case supply and demand changes
 

PowerTrip

Active Member
Uber is on fire. It has a $50 billion market cap and countless happy riders who can readily articulate why using Uber is better than taking a cab or driving their own car, or maybe even owning their own car. And the Uber drivers get to be their own boss and choose the hours when they want to drive.

What’s not to like?

But things start to look differently when you begin to ask some questions:

Who is better compensated — an Uber driver or a crew member at McDonald’s? How much does an Uber driver earn?

Uber drivers do have the freedom to choose the hours they drive. They have this freedom because they are “independent contractors,” not employees of Uber.

But, as it turns out, this freedom is not so free. According to my findings, there are three expensive costs that they incur for this freedom:

♦  No employee benefits from Uber, as the drivers are “independent contractors.” That means no medical insurance, no dental insurance, no vision insurance, no prescription drug coverage, no life insurance, no disability insurance, no unemployment insurance, no 401K, no vacation, no sick leave, no paid holidays, no tuition reimbursement, and certainly no Uber stock options,

♦  No employer-matching Social Security/Medicare tax contribution. Uber does not pay the 7.65 percent of Social Security/Medicare taxes that employers pay for employees, which means the Uber drivers pay an additional 7.65 percent via the Self-Employment Tax (15.3 percent vs. 7.65 percent).

♦  No reimbursement for car expenses. The IRS allows 57.5 cents per mile deduction when using a car for business, which is based on real world costs of operating a vehicle. This is a major expense for Uber drivers directly proportional to how many miles they drive.

Regarding Uber drivers’ earnings, a paper was published in January, co-authored by an Uber economist and titled “An Analysis of the Labor Market for Uber’s Driver-Partners in the United States.”

From the data in that paper one can readily derive the “median” hourly rate of an Uber driver to be $17.71. This figure was computed based on the paper’s summary of median hourly rates across four bands of hours worked per week, including 1-15, 16-34, 35-49, and greater than 50.

Let’s now compute the Uber driver’s hourly rate after adjusting for mileage expenses and the effect of paying the 15.3 percent Self-Employment Tax in place of the 7.65 percent Social Security/Medicare.

Assume that a full-time driver logs 30,000 miles per year. That’s less than 15 miles per hour based on a 40-hour week. Thus, it costs an Uber driver 30,000 x .575 = $17,250 per year for mileage expense. Working full-time for 52 weeks per year (Uber drivers get no paid vacation) at 40 hours per week (2,080 hours), yields an annual gross compensation of $36,837. Subtracting $17,250 for car expense yields $19,587.

Deducting the additional 7.65 percent because of the Self-Employment Tax yields ($19,587 x .0765) = $18,089, which is $8.70 per hour before income taxes.

So, according to my calculations, Uber drivers earn a median of $8.70 per hour.

Published reports say entry-level full-time McDonald’s employees, known as “crew members,” earn an average hourly rate of $8.25 per hour.

They also receive benefits that include medical, dental and vision insurance, prescription drug coverage, educational assistance, vacation, paid holidays, life insurance, short-term disability, 401K, and unemployment insurance. These employee benefits are certainly worth more than 45 cents per hour ($8.70 to $8.25).

So we can conclude that the average entry-level McDonald’s employee makes more than the “median” Uber driver.

From this analysis we can now begin to understand why Uber has a $50 billion market cap. Who knows how many thousands of dollars Uber saves because it pays no benefits to the drivers. I conservatively estimate Uber is saving at least $25,000 per year per equivalent full-time employee.

Because Uber has successfully, until now, been able to burden the independent contractor drivers with much of the expense of doing business, it is valued very highly by investors and venture capitalists. Probably a nice handful of folks are getting very rich, or much richer than they already are, because of this fact, but it sure doesn’t include any of the Uber drivers!

Scott Myers has lived in Lutz for the past 23 years. He is married with four children and recently retired from a 44-year career in information technology.
I going to burst your bubble some more, as a 1099 IC you will have another 28% to pay to the IRS on top on top what you pay SS.
 
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