Uber is rumored to be announcing a major round of funding soon, which would make them the most valuable startup in the world. Uber lets you hire a car on demand without having to call a cab company. Drivers that work with Uber are generating a handsome salary too!
The media wage for an UberX driver that is working at least 40 hours per week in New York City is making around $90,766 a year. They are making around $74,191 a year in San Francisco. UberX drivers use their own vehicles to give people rides.
Uber generates revenue by taking a 20% cut of fares from the driver. Uber is able to make downtime efficient because they do not have to cruise around looking for riders. They save money by not having to apply for expensive taxi permits and the drivers can set their own hours.
Uber has not revealed the median income for drivers across all 60 U.S. cities that it operates in. However, the potential to generate serious cash from Uber has enticed 20,000 new drivers to join Uber every month since January.