Uber vs Lyft: Which One is Better and Pays More in 2024?

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More people are turning to rideshare services as a means to earn extra income. But which pays drivers better – Uber or Lyft?

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Uber vs Lyft: two of the leading rideshare services in 2023. Most users have one if not both of the apps downloaded to their smartphones. For a prospective new driver, how are you to know which app will make you the most income?

Admittedly, the amount of money a new driver will make depends on a variety of factors like location, schedule, weekly driving hours, etc. But there are advantages and disadvantages to each rideshare app. Let’s dive into which app will make you more money.

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Uber Overview

Uber is based in San Francisco, CA, and was founded as a technology company in 2009. It’s since expanded into the well-known rideshare service that it is today. As of 2020, the company employs roughly 22,800 people in the corporate sector. They offer transportation, restaurant food delivery (UberEats), and connect freight carriers and shippers.

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Uber also has an ATG and Other Technologies segment that is working to develop and commercialize autonomous, self-driving vehicles and other ridesharing technologies.

Lyft Overview

Lyft was actually founded before Uber in 2007. It was originally founded by Logan Green under the name “Zimride” with the intention of offering long-distance ridesharing between college campuses. In 2012, Lyft launched in San Francisco as a service under the umbrella of the Zimride company. Lyft drivers adhered large fuzzy pink mustaches to the front of their cars, making them easily recognizable.

Lyft is somewhat of a smaller company than Uber, only employing 4,680 people in 2020. They offer access to a network of shared bikes, scooters, first-mile and last-mile legs of multimode trips, Lyft rentals, and information regarding public routes.

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Uber Earnings Potential

Time for the nitty gritty. How much can you actually make driving for Uber? According to driver reports, the average hourly income of an Uber driver is $19 per hour but rates can range from $15-$22 per hour. Drivers will make more money if they drive in locations with a higher demand for rides and will make less if they drive in rural areas.

Ofcourse, there are also things to consider like vehicle maintenance and gas mileage that may be deducted from your earnings, but Uber drivers can actually earn tax deductions for their gas mileage.

There are a multitude of ways to maximize your earnings on Uber (link to how much can you really make driving for uber? here). Some other notable ways to maximize your earnings, other than location and driving time, include driving through surges, engaging in promotions, customer service and tips, and taking advantage of the Uber driver referral program.

While the average pay for driving for Uber is $19 per hour, there are several drivers that have seen massive success like Al Castello of New York City who reported earning $6,000 per month driving for both Lyft and Uber. Another driver Gavin Escolar reported earning $252,000 in one year by promoting his jewelry business and turning his rideshare vehicle into a moving showroom.

Are you curious about how much Uber drivers really make driving for Uber? Read these 10 tips to earn more with Uber.

Lyft Earnings Potential

How much you’re able to earn driving for Lyft will depend on the same factors we mentioned when driving for Uber. You’ll want to be thoughtful about the location and time of day in which you are driving. In 2018, Lyft actually calculated and published it’s estimated median earnings for drivers. Figures haven’t changed significantly since.

First, Lyft defines working time two different ways; when a driver is online, driving toward a passenger, and driving a passenger versus when a driver is driving toward a passenger and driving a passenger.

When a driver is online waiting for a request, driving towards a passenger and driving a passenger, they can earn a median income of $18.83 per hour or $21.08 per hour in the top 25 markets. When a driver is driving toward a passenger and driving a passenger, they can earn a median income of $29.47 per hour or $31.13 per hour in the top 25 markets.

Similar to Uber, there are several ways to maximize your earnings on Lyft like engaging in bonuses and promotions, driving luxury service tiers, the Lyft rewards program, and the Lyft driver referral program.

Do you want to know how much you can possibly earn with Lyft? Read our article for tips on how to boost your earnings with Lyft.

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Uber Pros and Cons

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Lyft Pros and Cons

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Why not drive for Uber and Lyft?

If you’re still stuck between Uber and Lyft and can’t decide which to drive for, why not consider driving for both apps? Most seasoned drivers have more than one ridesharing service they drive for.

This way drivers can maximize their earnings and flip between apps when one is experiencing a lull. This is an efficient use of time and decreases the amount of downtime between riders. Afterall, the more riders you’re picking up the more money you’ll make.

Trying both apps might also give you a better idea of which app interface better fits your needs and goals as a new driver.

Final Thoughts

Whether you decide to drive for Uber or Lyft, the amount of money you make for either app is totally dependent on your driving habits – where you drive, when you drive, how you drive, and how you use each app’s perks to your advantage.

One perk to each app that you won’t want to neglect is the new driver referral programs. Use our Uber driver referral link to sign up as a new driver here or use our referral link to sign up as a returning driver for extra rewards.

Not sold on Uber? Use our new driver Lyft referral link to sign up here.

You get free rewards and can use your own individualized link to encourage friends to sign up for even more rewards. There are pros and cons to each rideshare service but no matter what decide, we wish you happy driving and earning in 2023.

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