Ridesharing has become a big business. As of 2021, the industry’s market value was $85.8 billion. And in 2022, 36 percent of Americans had used rideshare services. The big gun of ridesharing is Uber. It has 93 million monthly active users compared to Lyft’s 18.6 million.
But when you’re ordering your Uber, do you ever wonder who the driver is? Sure, you want someone safe, but look at the person driving. You might be surprised.
Older Uber Drivers
Approximately one million Uber drivers operate in the United States. Of those million drivers, 32.8 percent are between 61 and 70 years old. The next biggest age bracket for a driver is age 51 to 60, which is 29.2 percent of Uber drivers. The smallest percentage is 18–30. That age consists of 1.5 percent of Uber drivers.Other ages are 31–40 years, 9.4 percent, and 41–50 years are 16.7 percent. Even the 71 or older age bracket beats out the youngest demographic: it’s 10.4 percent of Uber drivers.
Why Older People Drive for Uber
But why are there more older Uber drivers? It’s a flexible way to make a living or a little extra income. Many retirees either aren’t ready to slow down orneed the extra income. Uber driving is a great alternative to a full-time job, part-time job, or temp job, or seasonal employment.Other older Uber drivers are trying to put more money away before they retire. They have a full-time day jobs, but spend some evenings a week as a driver.
Drivers can set their own schedules. They drive only when they want or have the time. Although there are some rules to follow, you’re basically acting as your own boss regarding your time.
Disparity in Drivers’ Payments
There is a disparity between older drivers and their younger counterparts. Younger males tend to make a bigger paycheck than women or older drivers. For example, a 30-year-old makes about 10 percent more than a 60-year-old.Why Younger Uber Drivers Make More Money
On the surface, this may look a little discriminatory. But the disparity is due to the times younger and older drivers are on the road.Younger drivers tend to be on the road later. They also are the ones who stay up and drive the partiers home on New Year’s Eve. Many younger drivers will work the bar districts that older drivers avoid. And older drivers tend to be more prevalent during the day and evening.
It also comes down to how many rides a driver can pack in an hour. And many drivers benefit from bonuses and surge pricing.
For example, Uber sometimes offers incentives if, during a certain time, a driver picks up passengers in a populated area.
The timeframe is important. Friday and Saturday nights are lucrative, but some older drivers don’t want to work after 10:00 p.m. on the weekend. Younger drivers tend to take advantage of these high-paying peak times.
Why Fewer Young Drivers
There’s a reason for only 1.5 percent of Uber drivers being between 18 and 30 years old. The requirements to be an Uber driver are strict. Although 18 is the minimum age, younger drivers under 23 must have three years of driving experience with a valid license. And they must have a clean record.Many cities also have a minimum age. For example, in Boston, the minimum Uber driving age is 21.
A driver must also own a four-door vehicle that’s 15 years or newer. Younger people tend to have two-door vehicles.Some busy cities may require a newer vehicle than 15. For example, an Uber driver can’t drive a vehicle older than six years in New Your City.
Also, fewer 18 to 24-year-old adults have a valid driver’s license. Forty percent of 18-year-olds and 20 percent of 20–24-year-olds don’t have a valid license. In 1983, that number was 20 and 10 percent, respectively.
How to Become an Uber Driver
The first step to becoming an Uber driver is to fill out the application. This can be done either on their website or through its app. You'll have to upload the following:- valid U.S. driver’s license
- proof of residency in your state
- proof of auto insurance
- car registration
- profile photo in a passport format, not a driver’s license photo
After 10 days, and if your application is successful, you will have your driver’s status enabled to driver mode in the app. You'll be able to accept rider requests on your smartphone.
Double Check Auto Insurance
It depends on your state as to what type of auto insurance you’ll need. Uber offers some limited coverage, but only when you’re logged into the app and driving customers.Check with your insurance agent to ensure you are appropriately covered.
Older People Driving People
You don’t have to be young to be an Uber driver. Most drivers are over 50. The reasons they’re driving are varied. But, ultimately, they have a part-time or, in some cases, full-time job where they have flexible hours and extra income.The Epoch Times Copyright © 2022 The views and opinions expressed are those of the authors. They are meant for general informational purposes only and should not be construed or interpreted as a recommendation or solicitation. The Epoch Times does not provide investment, tax, legal, financial planning, estate planning, or any other personal finance advice. The Epoch Times holds no liability for the accuracy or timeliness of the information provided.
