Lyft announced last week that they are adjusting the Western Maryland driver pay rates. They were increasing the per minute amount by 65 percent and decreasing the per mile amount by 16 percent.
Without even doing the math, I approved of these new driver pay rates. I’ve always believed the per minute amount was far too low. I routinely have passengers who want to make a “quick” stop. I don’t mind stopping, I just want to be adequately compensated for the stop.
Most of the trips I drive in and around Hagerstown are the low mileage, high minute variety. Although there aren’t many miles from one end of Hagerstown to the opposite end, it can take time to go from one end to the other. This is especially true if a lot of cars on the road. It’s even worse if there are school buses on the roads dropping off kids and parents who want to speak to the bus driver.
The old Lyft driver pay rates
I wasn’t aware of the fact the penalty for the scheduled trip wasn’t the same as the standard canceled trip penalty. I had to cancel a trip because the rider failed to show up and I received only $7.00.
The New Lyft driver pay rates
The new Lyft diver pay rates went into effect yesterday, December 17.
Everything stayed the same except the per mile amount dropped from $0.96 to $.8025 and the per minute amount increased from $0.1275 to $0.21.
If you apply the old numbers to a hypothetical 5 mile, 10-minute trip, it works out to be:
Base Rate: $1.2375
Miles: $4.80 (5 miles x $0.96)
Minutes: $1.275 (10 minutes x $0.1275)
Apply the new numbers to the same hypothetical 5 mile, 10-minute trip, it works out to be:
Base Rate: $1.2375
Miles: $4.01 (5 miles x $0.8025)
Minutes: $2.10 (10 minutes x $0.21)
I will not see much of a difference in the amount Lyft pays me to drive strangers in my car. If I see any difference, it will be on trips that take longer because the passenger wants me to stop at Dollar Tree to do some quick Christmas shopping. On trips like these, I’ll be making more money than I would have made before.
Want to try your hand at driving strangers for Lyft? Click this link to get started.