So you’ve decided to be a rideshare driver. You’re ready to make extra money and enjoy the perks that come with the flexibility of the gig economy.
There’s just one big question. Should you drive for Uber or Lyft?
The following gives you a rundown of what to consider if this is the decision you’re in the process of making.
Invite Codes and Sign-Up Bonuses
First and foremost, let’s face it, driving for a rideshare service is a way to make extra money, so the financial elements are probably what you’re most focused on.
If you’re debating between which option is best for you, they both often offer driver invite codes and sign-up bonuses. One company might be offering something better than the other at any given time, and both Uber and Lyft offer bonuses up to $1000 in certain cities.
Do some research as you’re getting started, and see if any irresistible deals are going on in your city.
Okay, so beyond the initial driver sign-up codes and bonuses, who makes more overall, Uber or Lyft drivers?
A survey released this year by the loan company Earnest showed that Lyft drivers make just a bit more than Uber drivers.
According to their research, Lyft drivers have median earnings of $210 per month, while Uber has median earnings of $155 a month. The research also showed that the average for Lyft drivers in a month is $377, and for Uber drivers, it’s $364.
Of course, those aren’t huge differences, so when it comes to earnings, for the most part, the two main rideshare services are pretty similar.
One reason for the differences in earnings may be because Lyft charges a bit more for Uber, so drivers ultimately make more as a result and Uber tends to take a larger percentage of fares than Lyft.
One place Uber tends to excel in Lyft is overall availability and coverage areas. You may be more likely to find more opportunities with Uber as a result, and this service is available in more cities than Lyft for the most part.
Uber is constantly expanding as well, while Lyft tends to lag behind in this area.
Customer Service and Job Satisfaction
So what about customer service, from the perspective of a driver? While this is a pretty subjective area of comparison, it seems like from looking at antidotal evidence from real drivers that they are more satisfied with Lyft here.
Lyft tends to have more responsive customer service in a lot of instances, and Lyft drivers also report having high levels of overall satisfaction with their experience driving for the company.
If you’re still trying to weigh which is better for you, and both Uber and Lyft are available in your area, it might be optimal to try both out. You may find that you just like one better than the other, or have personally better results with one company as compared to the other.
Or, you may even stick with both, which is something a lot of drivers end up doing.
Are you thinking about driving for Lyft or Uber? Share your thoughts and comments below.