Is it worth to become an Uber Driver in Singapore?
Five weeks ago, in March 2017, I signed up as an Uber Driver using a rented car.
Update 4 October 2017: Uber SG starts charging riders who are late at the pick-up point.
Why did I sign up? Simple…
The ads say you can earn S$5000 per month.
News articles say some even earned S$6000 per month.
So how much did I earn?
I drive in sessions of 3 hours between breaks.
In 3 hours, I collected an average total fare of S$70.
Let’s do the maths.
Driving for 10 hours will yield about S$200 (rounded off worst case situation).
Drive for 30 days and you get S$6000!
How much is the car rental? Petrol? Carpark? And Uber’s commission of 20%.
Rounding off the total cost, it’s about S$2,500 per month. Uber’s 20% commission is S$1200.
That means my take-home profit is S$6000 – S$2500 – S$1200 = S$2300.
The calculation does not include the variable incentives earned by driving a certain number of trips and making referrals.
What are the lessons learned from this experiment?
– If an extra S$2300 per month means something, then renting a car and driving for UBER is worth it.
– The earnings will be better if you already have your own car.
Question: Does driving for an extra S$2300 to S$3800 per month mean something to you?
If you decide to make money driving with UBER in Singapore, please use my code: leey2794ue