Uber is a new company heavily financed that offers anyone the opportunity to become a taxi driver and walks customers through an easy payment system. The website has revolutionized the taxi business in many parts of the world where people have found the system to be part of shared some money-saving car.
Uber is a network of transportation and taxis and a mobile application based company headquartered in San Francisco, California, which now operates in 130 cities worldwide and the company looking to raise another round of funding that could value it at more than $10 billion.
How Does Uber Make Money
The Uber process is simple and clear, the tax driver drive the customer to its destination after that the money Uber driver gets its 80% and Uber gets 20% from each fair.
How Much Uber Drivers Are Really Earning
If a driver normally works 12 hours a day, six days a week – a figure that does not look typical at all – he or she would have make $24.04 per hour. If a driver working 12 hours a day, four or five days a week, the driver would make $36.06 or $28.85 per hour, respectively according to the BusinessInsider report. For a pilot operating normally 10 hours a day – a more realistic figure – and manages four to six days a week, the driver would have to do from an average of $ 28.85 and $ 43.27 per hour.
Uber says its drivers earn $90,000 a year to drive UberX in the city of New York.
However, if we assume a weighted average driver salary $21.90 per hour, which takes into account only a fraction of the cost of the drivers, and assume drivers work 30 hours a week (again, not necessarily typical, but an average range of hours worked by the eight drivers we spoke), we can assume an approximate projected annual $34,164.
As I searching over the web I found that Anonymous Uber Driver claimed that he make $54.5 driving for 12 hours on one particular busy day (that’s only 4.54/hour, far less than minimum wage with no benefits).
He also claim
But I grossed $180 in fares on this day and I made $60 on just one trip that lasted 30 minutes the same day. How is this even possible? It doesn’t make sense. I have posted details that explain the huge difference between gross and net fares below.
As the passenger paid the $60 fare for a 30 minute ride, he probably thought I was way overpaid and maybe even rich. The truth is I’m working long hours for less than minimum wage. The reality is that there is a huge difference between gross fares and net fares.
Uber has certainly served as a controversial company that has seen large-scale protests traditional taxi companies and businesses in places like London, Paris and even San Francisco. When a London taxi union tried to ban the web/application site the government refused for fear that makes the city seem hostile to international business. An intelligent decision of a smart city.
Despite all the controversy further strengthened the company reportedly strong backing from Google and Fidelity Ventures. It entered in the growing Indian market soon grew in all urban areas of the vast country. However, as elsewhere, the drivers were not happy. In a country with the largest number of people on earth with a speed/low class working highly qualified driving cars, buses, vans and rickshaws is seen as a lifeline for millions of people without education. After expanding to over 10 highly populated cities of India and reducing prices by 25% even large and established companies taxis and rentals started to take notice of Uber.
These companies have taken extreme measures Uber lock to operate in India. It was alleged that the Reserve Bank of India accusing Uber of violating the strict laws of foreign exchange due to its payment system.