Lyft is increasing pay by 5% but don’t be fooled

1028 Views 14 Replies 11 Participants Last post by SurgeMasterMN, May 14, 2018

BurgerTiime

Discussion Starter · May 1, 2018 (Edited)

2

Fuel has been skyrocketing and is up from $2.28 to $2.62 from a year ago, up 14.9%!
14.9123% increase to be exact (V2−V1)|V1|×100(V2−V1)|V1|×100
(2.62−2.28)|2.28|×100=(2.62−2.28)|2.28|×100
(The irony of a Lyft ad on Gas buddy)

Trip 20 miles cleared 3 trips $12 < fuel 2017 $2.28 - rep by 1 gallon $9.72 - : 20 miles 3 trips (you weren't given extra time you only have so much time to do a trip) Average $.65 increase for 2018 $12.65 - $10.03 increase pay of $.32 cents for each gallon of trips. $6 extra per tank on a 20 gallon tank.
Not including IRS depreciation! Don't get me started on that cause it will show terrible results and I know many of you think you're banking. This is increase pay from a year ago to just $.32 pennies for 1 gallon of average fuel of 20 miles per gallon vehicle. And it doesn't really mater how many trips you're doing, this is a crude (oil, pun intended) for fuel difference with increase of %5 compared to a year ago.
*If you're using anything with less gas economy 20mpg, you're NOT making money period. So those crazy people with pickup trucks, you're doing this for other reasons unexplained.

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Johnnyrock

· #2 · May 1, 2018

I never got that notice of increase.

Kaal

· #3 · May 1, 2018

Check your email. I got it about 1.5 hours ago as well

Immortal

· #4 · May 1, 2018

I got it

Reactions: 1

fairsailing

· #5 · May 1, 2018

Not just gas price. Driver Prime Time has been cut by at least 25% across the board and kept by Lyft in their Platform Fee as flat fare quotes. That is where I am seeing a big drop in income.

Lyft also increased their Service Fee to $2.60 (at least they kept my grandfathered 20% commission). Meh.

68350

· #6 · May 1, 2018

We're paying as much as 2.89 here, no notice of a fare increase. Min fare is 2.62.... Yes we need an increase in AZ.

fairsailing

· #7 · May 1, 2018 (Edited)

Here is the new rate sheet for Minneapolis. Newer drivers will have $0.79/mile instead of $0.84/mile. Interestingly, the minimum rate has not changed.

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Reactions: 2

LubyrDude

· #8 · May 6, 2018

fairsailing said:
Here is the new rate sheet for Minneapolis. Newer drivers will have $0.79/mile instead of $0.84/mile. Interestingly, the minimum rate has not changed.

View attachment 226621

I inquired w/ support as to why I was seeing a lower rate card than the one you posted. Sent a screen grab of the post & in 3 rounds got a lot of boiler plate & "what you sent isn't a rate card for MSP, they all look like yours"

What do you make of that explanation and do you know a way to counter act same?

fairsailing

· #9 · May 6, 2018 (Edited)

As I alluded to in my post, but more specifically here, if you signed up to drive for Lyft on 1/1/2016 or later your commission rate is 25%, if you signed up before, it is 20%. I started driving for Lyft in 2015, so 20% is the commission rate used to calculate the net mileage rate you see on my sheet. If you are seeing something less than $0.79/mile, that would be very interesting, unless of course you did not sign up in the Twin Cities market.

No matter who you talk to at Lyft, this is the definitive policy document for pay:

https://www.lyft.com/terms/driver-addendum

(It is also the notorious document that decoupled driver pay from rider fees, and has given Lyft a windfall increase in revenue. Like almost everything in rideshare, Uber did it first.)

fairsailing

· #10 · May 9, 2018 (Edited)

And from the main Lyft forum, and I just confirmed, if you want to continue to see what Lyft is making on your rides, do NOT download the latest version where "View Earnings Breakdown" now just repeats earnings, all rider payment information is gone.

The driver backlash must be growing.

BurgerTiime

Discussion Starter · #11 · May 12, 2018

Gas shot up and 5% is pretty mush wiped out within the last week!

Reactions: 1

Slyster

· #12 · May 12, 2018

Does Uber adjust with gas prices? Or do we just lose money.

BruiserB

· #13 · May 13, 2018 (Edited)

Slyster said:
Does Uber adjust with gas prices? Or do we just lose money.

The latter. Although the IRS mileage deduction is supposed to move with gas prices. But it basically lags a year as it is set for the beginning of the year based on the previous year's prices. Uber may adjust rates if there is a huge change in gas prices, but they don't have any sort of automatic price adjustments tied to gas prices.

In case you don't know, Uber did also just move up 5%, but it wasn't tied directly to gas prices.

emdeplam

· #14 · May 13, 2018

Should there be an option to return the raise?

SurgeMasterMN

· #15 · May 14, 2018

emdeplam said:
Should there be an option to return the raise?

Still shilling?

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