(CBS SF) – As San Francisco-based Uber is set to become the most valuable tech startup since Facebook, a reporter goes undercover to find out how much drivers of the ridesharing company get to take home.
Earlier this year, Uber’s internal data showed drivers in San Francisco, New York and other cities earning significantly more per hour compared to chauffeurs and taxicab drivers. The figures don’t take into account the costs that drivers incur such as gasoline and maintenance, and Uber does not reimburse driving expenses.
Last year, The Washington Post reported that the median wage of an UberX driver in New York City working at least 40 hours a week is $90,766 a year.
Emily Guendelsberger of the Philadelphia City Paper described her experiences of driving for the UberX service in Philadelphia and found those high wages can be difficult to achieve, earning under $10 an hour after 100 rides. The reporter subtracted the 28 percent that went to Uber and vehicle expenses to come up with the figure.
“Driving for UberX isn’t the worst-paying job I’ve ever had. I made less scooping ice cream as a 15-year-old, if you don’t adjust for inflation. If I worked 10 hours a day, six days a week with one week off, I’d net almost $30,000 a year before taxes,” Guendelsberger wrote. “But if I wanted to net that $90,000 a year figure that so many passengers asked about, I would only have to work, let’s see…27 hours a day, 365 days a year.”
Uber recently dropped their rates in Philadelphia, upsetting drivers who had to drive significantly more to earn the same amount of money.
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Last week, Uber was reportedly seeking to raise $1.5 billion, which would raise the company’s value to $50 billion.