Requirements to Drive for Uber or Lyft

Requirements to Drive for Uber or Lyft

This article details requirements and qualifications for driving for Uber of Lyft. It also discusses the earning potential for each company, and compares driver satisfaction between the two companies.

Key findings

"Dissatisfaction with pay and the rideshare gig in general still leads to high turnover rates. According to recent report by The Information, only 4 percent of Uber drivers are still driving a year later. Even Uber's own data shows that over 60 percent of drivers quit after a year."

"The survey found that Uber drivers earn an average of $16.90 an hour (which is a $1.00 more than last year) before expenses, while Lyft drivers are bringing in $17.37 an hour. This is a gap of only 47 cents an hour, down from $2.00 an hour in last year's survey... One study found that a driver who collected $62,500 in fares annually (which is not most rideshare drivers) might be left with about $27,600 after taking out Uber's cut, gas, maintenance, car insurance, health insurance and taxes."

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