How Much Do Lyft Drivers Make?

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Lyft driverAre you looking for a job change and considering driving for Lyft? We can tell you all about what it’s like driving for Lyft. Is Lyft a good way to make money? We’ll cover that too and help you determine if Lyft can help provide income for your household.

How Much Can Drivers Make in Lyft Earnings?

Click Here to Apply to Become a Lyft Driver

Lyft logoWe looked at Glassdoor and Indeed for some statistics on a Lyft driver salary. Please know that neither website gives the same figures, which is why some things are discussed for one source but not the other. Read below to see how Lyft pays.

Average Lyft Income According to Glassdoor

These statistics are based on 68 Lyft driver salary reports.

  • Lyft hourly pay: $17/hour
  • Lyft salary: Average $33,669/year
  • Lyft cash bonus: Average $755
  • Lyft tips: Average $972

Average Lyft Pay Rate According to Indeed

How much can you make with Lyft according to Indeed? The statistics below are based on 556 Lyft salary reports for drivers.

  • Lyft hourly pay: $34.95/hour, which is 64% above the national average
  • Lyft daily pay: $150/day, which meets the national average
  • How much do Lyft drivers make a week? $1,499/week, which is 32% above the national average
  • Lyft monthly salary: $3,911/month, which is 18% below the national average
  • Lyft salary: Average $59,075/year, which is 11% above the national average

So, Do Lyft Drivers Make Good Money?

Remember, the numbers above are averages. Your income as a Lyft driver is going to depend on where you live, where you’ll be driving, and other factors. Larger cities mean more riders. If you look at the stats above from you’ll note that a Lyft driver can make an average of $33,000 to $59,000. Remember, those figures are averages, so there are drivers who make more, and drivers who make less. But considering that the national average wage index for 2016 was $48,642.15, Lyft appears to be a reasonable option for your income needs. Next you’re probably wondering how quickly you’ll be able to access your earnings. In other words, how does Lyft pay? That’s next!

Lyft Pay Structure

How do Lyft drivers get paid? Lyft pays its drivers weekly. Payments begin being processed on Tuesdays at around 5am. Depending on your bank, it may take a few hours, or even days, before the deposit appears in your account.

Express Pay

How does Lyft pay drivers sooner? If you need your money sooner, you can utilize Lyft’s Express Pay. Express Pay lets you cash out your earnings instantly (and according to them, they are the first and only ridesharing company to offer this) as long as you have earned $5.50 or more. How does it work? Lyft partnered with Stripe (a payment platform) that allows drivers to put their pay on a debit card (note: there’s a 50-cent transfer fee to collect Express Pay.) To start, you link your debit account and when ready to withdraw, you tap a button in the “Earnings” tab of your Lyft account. Most drivers will receive instant deposits, however some banks won’t allow funds to appear until next day.

How Much Can You Make with Lyft?

We reached out to actual drivers to find out their stories about how much they earn driving. Granted there are various factors like time of day, peak times and city you live in (see below). But hopefully these first-hand testimonials helps you get a better idea.

I normally drive around 3 or 4 nights a week and earn around $50-$75 per night during the week but on the weekends, its a different story.  Since Nashville is one of the “It” cities right now, there are tourists everywhere and I easily make $200-$300 a night driving on the weekend.  – Gene Caballero, Co-Founder GreenPal (Nashville)

I was happy if I made $50 a night or $150-200 for the weekend. I was looking for full time work and frankly with their auto deposit it sometimes kept our bank account $10-15 above 0 which means we avoided overdraft fees. So the potential to not lose more was huge! – Mike Magan, (Indianapolis)

Is Being a Lyft Driver Worth It?

Ultimately, it’s up to you to decide, but here are some things you’ll want to consider before driving for Lyft (or Uber, check out the differences.)

You may have to work in chunks of time during less-convenient hours. Many rides take place during commute times, which can begin at 6 am and finish up around 9 am. Then again for the evening commute, which starts around 3 pm and finishes up around 7 pm.

Other than commute times, you’ll need to take into consideration any events going on in your city (like sporting events) and any dinner/party times, which can start around 6 pm and finish up around 2 am (depending on bar close times). If you aren’t keen on giving drunk people rides (and potentially messing up your car), you should definitely avoid the bar scene.

A huge positive that people talk about is being your own boss. What we mean is that you get to work when you want to work. While there are definitely better times to drive, ultimately, it’s up to you when you want to “clock in.” If you are sick or have a doctor’s appointment, you don’t have to reach out to a boss and ask if it’s ok to miss work. You work when you want to when driving for Lyft.

How Much Do Lyft Drivers Make in Different Cities?

Click Here to Apply to Become a Lyft Driver

If you’re curious about more specific salary numbers, checkout the stats we’ve collected for some of the major cities below.

Is being a Lyft driver worth it?

About The Author:

Kimberly received her Bachelor of Arts in multimedia journalism from Simpson College. She is one of Exploring Life's Mysteries most experienced researchers. When reviewing products and services her natural curiosity helps her dig deep and unearth the truth behind the marketing.

Kimberly grew up camping at the nearby lake with her family when she was a young girl. It wasn't until she met her husband that she rediscovered her love for the outdoors and began taking regular vacations to the national parks. Some of Kimberly's favorite memories include camping in a tent, hiking beautiful terrains, sitting around a campfire eating s'mores and sipping on a cold craft beer.

After three years of dating and exploring different regions of the U.S., Kimberly's husband proposed to her with the help of Exploring Life's Mysteries' online engagement content that she had researched and written. Not only was he able to design her ring himself, he was able to do so at great cost savings.

Kimberly likes starting her days with a warm cup of Nespresso, and she enjoys going for walks with her family and hound mix, Sally. In the evenings, she likes indulging in a glass of red wine and some dark chocolate while cozying up by the fire pit in her backyard.

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Domnique
December 21, 2017 7:57 pm

I’m thinking about joining Lyft over the holidays to make some spare cash in the new year to pay off some debt. This is very useful thank you for sharing.