I did a quick read of the document. Maybe I missed something. I see that the document describes scenarios for 5 drivers: A, B, C, D and E but I don't see it getting into total income figures for the year for each of the drivers. With that the author could then have worked out net income per hour before tax for each of the driver scenarios which would be a key figure of interest to a prospective driver. But on the other hand the title of the article is Towards A Cost Estimate of A NYC UberX Driver so he didn't say he was going to give the income side.Income tax?????
Right - this paper calculates the costs of "partnering" with Uber.Anyway, without total income for the year you can't calculate income tax. I don't think an analysis such this needs to work out after tax income.
NoRight - this paper calculates the costs of "partnering" with Uber.
The revenue side depends on how much you make per hour vs how many miles you driver.
I can try to estimate this as follows:
- From the paper, the average speed of a taxi is 13.3 mph. It uses this number to estimate total UberX miles/year.
- Unlike a taxi, an UberX driver doesn't have to keep the engine running all the time. Say it takes 4 minutes (0.9 miles) on average to pickup a PAX. Still, you need to factor in the miles to get back from Brooklyn with no fare - so say 1.5 miles added per trip?
- The average trip distance and the average fare. Let's say the average trip is $22/5 miles?
- The number of trips/hour (1.5?)
So, if all these numbers are correct:
- Gross revenue is $22 x 1.5 = $33
- Total miles/hr: 1.5 x 1.5 = 2.25 miles driving "empty" + 5 miles/trip x 1.5 trips/hr = 7.5 miles = about 10 miles/hr
So, if we take $0.4/mile, this amounts to $4/hr for the car.
Net pay (well, without income tax):
- (100%-30.59%)* $33 = $22.9 after Uber, Black Car fund, etc.
- $22.9 - $4 = $18.9 after car costs.
Does this number make any sense?