How about all three? When deciding whether to accept or decline an offer, why not consider time/miles/dollars all together? I know that's a lot of info to glean in the few short seconds the trip is showing......but maybe it's a good idea to train yourself to take it all in. You know.....like speed reading.
I considered time as a primary factor but the problem is one is burning out their vehicle and running up a tax bill, things that will need to taken care of by saving and reducing deadheading. If drivers were concerned about time, they wouldn't be doing ridesharing or deliveries to begin with and I'll post my numbers.
Last year 100,000 odometer miles (way too much, 80,000 better)
Gross 95,000 or .95 cents an odometer mile includes tips
75,000 in costs, including saving for replacement vehicle
30,000 in taxable income, apx. 10,000 for taxes and SSI.
Leaves 20,000 for rent, food and life expenses. No health insurance. Dental out of pocket.
Now to get an idea of time driving,
100,000 miles at average speed in our area is 40 mph or so including wait time
I come up with a rough average of 7 hours a day actually driving every day last year or a pay of about $7 AN HOUR plus $3 an hour average in tips after all costs rideshare related.
So basically if one sticks to the $1 per odometer mile minimum acceptance formula, treats pax well, they should be making the equivalent to an apx. $15 hour job before taxes.
Now here's the catch, I'm online 18 hours a day (5-6 am to 11-12 pm) to get that average 7 hours a day driving. I do Uber from my house as I live in a hot zone so I can rest (and put my feet up to give my leg muscles a rest after sitting) between surges of demand. A big advantage.
So if I'm only making $70 a day over 18 hours that's $3.90 per hour, just barely covers rent, food etc.
The $1+ per ODOMETER mile minimum acceptance rate is easy to calculate in the few short seconds upfront fares gives. Very simply if the two miles given when roughly added up is LESS THAN the compensation you DECLINE. Unless you were going that way anyway and willing to shave a few bucks off the cost of the ride. Tips are cushion.
If you consistently get below $1 per mile including tips, it means it's rideshare, the market is flooded with ants who can't do basic math or those doing it part time, cashing out some equity in their vehicle. Not worth doing as a sustainable income source.
For instance in Miami it's totally blown out, Uber is only covering vehicle costs .79 a mile one way for X and (.79 + .67) both ways for XL (includes time), so those poor fools are only working for tips and declining long trips on X. However in certain areas the volume is near constant and small trips make more because of the base fee + .50 gas charge and of course tips.
OK, so let's come around and figure for time since we have a floor to work from.
How much does one need to gross per hour in order to sustain themselves?
Well if $95,000 gross clears $20,000.
An average of 7 hours a day actually working is $95k/2555 hours is $37 an hour.
So $30 an hour is too low, shoot for $40 an hour. 😂
Edit: $37 an hour for 7 solid hours of driving is $260 a day.