Uber Earning Guarantee, is it worth it?
Is the Uber Earning Guarantee a True Guarantee?
You want to drive, how does this benefit you?
The latest Uber earning guarantee strategy may or may not benefit you as a driver. This will depend on the city in which you drive and the number of drives you make. Their old “sign-on bonus” is now an “earnings guarantee” or so they say.
Read more to find out how this will impact your earnings as a new or veteran driver.
Are you ready to enter the world of rideshare? Check why we recommend you drive for Lyft first. Click here.
Heart set on Uber? Continue reading!
So how does the Uber earning guarantee work?
The Uber earning guarantee is supposed to pay a driver after a specific number of rides. Here is the problem: if you complete more rides than the set amount, you get no additional bonus and end up earning less per ride.
See the following example:
Example: Bob signed on to be a new driver and was told he would get his “ Uber earning guarantee” after completing 25 rides. Bob ended up completing 47 rides. This means Bob does not get any “bonus” or “earnings guarantee” but instead gets paid for the drives he made. He out-earned the guarantee!
Fair? eh, not really. What’s more discerning is the staff at Uber is just as confused as are the drivers! Due to a serious lack of communication, Uber staff is often unsure about the difference between a sign-up bonus and the Uber earning guarantee. If even they can’t get it, how can the new or existing drivers understand? In addition, their marketing strategies refer the Uber earning guarantee as a “bonus,” so it’s confusing to say the least.
You’re ready to drive, what’s next?
If you choose to sign-on with Uber, it will help if you know how to make the most of your Uber earning guarantee potential. They won’t make that easy for you but we’ll certainly try. Keep in mind that the Uber earning guarantee policies could very well get worse over time. If you do want to sign-up, now might be the time to do it as the bonuses are still high.
Once you have applied, you will receive some emails from Uber!
You’ll receive emails from Uber and we can’t stress this enough – read them carefully! Big print, fine print…read it all and ask questions if you don’t understand. If you find you’re getting an Uber sign-up bonus or Uber earning guarantee then move forward with signing up. If it is the Uber earning guarantee you’ve been given, then take advantage of short trips!
Why short trips make the Uber earning guarantee great?
While longer trips make more money, you can make shorter trips to earn the guarantee. All you need is a plan. TIP: Seek out rides after working hours when passengers are seeking out a driver to take them on shorter trips to bars, restaurants or hotels. This way you use less gas and time. The result is you will maximize your earning potential as you will be driving less, and earning more.
Driver referral code vs Uber earning guarantee
Another way to possibly earn more money is to sign-up with Uber using a driver referral code or link from another driver. We say “possibly earn more money” because you may or may not get paid more by using a code or link but we’re sure you won’t get any extra money if you don’t. It is important to note that the bonus will depend on the location in which you are signing up. If you signed up and forgot to use a referral code, don’t worry. Often Uber will accept codes up to two weeks after your initial sign up.
Ready to sign up? Click the Uber image on the right, or click here to find out how to get started with the best foot forward.
There are other options for making money as a Rideshare driver:
Lyft: take advantage of BOTH BONUS PROGRAMS.
This is Uber’s competition. It is possible to drive for both companies with careful planning. Lyft is currently growing as a business as are their bonuses. They don’t offer questionable guarantees. You meet the requirement, you get paid. Period.
Like that bonus structure instead? We definitely dig it. Click here for more info!
Uber branched out to a food delivery service. Note that if you are a current Uber driver you will not receive a sign-up bonus. If you’re new to Uber and Uber Eats, you’ll need to complete an online training course. You’ll also need to retrieve an insulated bag from your local Uber headquarters office.
This is a food delivery service. You will work in what are called “blocks” which can be rescheduled. You can also count on tips as well as a base pay.
Drive for this company to make food deliveries and/or make pickups for retail businesses. In some locations the current sign-up bonus is up to $200.
Regardless of your decision, do some simple math to figure out how you’ll make the most money.
Price the cost of gas in your area, figure out the costs involved with vehicle maintenance, be sure to get clear information on sign-up bonuses and per-ride rates.
Be sure to factor in insurance. A little homework and smart strategy on your part will mean more money in your pocket.
Click here to check out for some tax saving tips!