There’s been a lot of anger lately over the recent fare cuts from Uber but one of the silver linings has always been the accompanying rate guarantees. In LA/OC, the peak guarantee sits at $26/hr which isn’t too bad considering there’s no pressure to do a ton of rides and you can still make just over $20/hr after Uber’s commission.
But now that pay statements are starting to roll in, drivers are discovering that these guarantees aren’t nearly as good as they once sounded. For one thing, the guarantees are before commission. So if you’re guaranteed to make $20/hr during peak times, you’re actually only guaranteed to make $16/hr.
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We’ve known about this though and other requirements like 90% acceptance rate, online 50 out of 60 minutes and a minimum of 1 trip per hour. But it turns out there is a lot Uber hasn’t told us about how these guarantees work too.
Average Of Your Gross Fares
The biggest hidden requirement is that the hourly guarantee is spread out over an entire pay block. So in order to see if you qualify for the hourly fare guarantee, you need to take the entire amount of money you made during peak hours (for example) and divide that by the number of hours you drove during peak times. That number is then compared to the hourly fare guarantee and if it’s below the guarantee, you’ll get a bonus. If it’s above the guarantee you don’t get anything.