Lyft recently gave their half-a-billionth ride. They’re now giving over a million rides per day, and are available to 95% of the US population, and they’re growing exponentially. It took them four years to complete their first 100 million rides, and they’ve completed 100 million rides in the last three months alone.
There are now more rides available than ever with Lyft, and a lot of drivers like myself are finding that it can be more profitable and economical to drive exclusively for Lyft. The primary reason that is possible, is what we’re gonna discuss today, and that’s the Lyft Power Driver Bonus program.
Joe here with the Rideshare Guy. I have been a driver in the Minneapolis and St. Paul market for three and half years. Check out my video on the Power Driver Bonus, then read the video transcript below if you prefer to read.
For my first two years in rideshare, I wanted to maximize my opportunity for trip requests, so I drove for both Lyft and Uber at the same time. During those first two years, I did maximize trips, and a majority of those trips were with Uber, about 75% versus 25% with Lyft.
Is the Power Driver Bonus attainable?
For a while, I’ve been aware of Lyft’s Power Driver Bonus program, but didn’t think it was attainable, since a majority of my trips had always been with Uber. Then, in the beginning of 2016, Lyft started to really ramp up their guaranteed hourly rates. Since I was going to drive a majority of the hours exclusively for Lyft, I figured, why not give the Power Driver Bonus a try.
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By dedicating all of my time to Lyft, I was able to attain the bonus pretty easily that first week, and for over a year and half now, I have consistently achieved the bonus on a weekly basis. In this video, we’ll explain what the Power Driver Bonus is, we’ll go over the requirements, and we’ll also take a look at my dashboard, and see how I qualify for the bonus on a weekly basis.
What is the Lyft Power Driver Bonus?
The Power Driver Bonus is a weekly bonus, and it is a way to earn back nearly all of your commissions by completing a certain amount of rides for the week. With an emphasis on giving rides during peak hours, hours when demand is the highest. The bonus has evolved over the years. It was originally based on the amount of weekly hours driven, and today it is based on the amount of weekly rides given.
First, the bonus must be available in your region. Your vehicle needs to be a newer model, usually no more than six years old, and you need to maintain an 90% acceptance rate for the week. Finally, you need to meet the ride requirements as shown in your personal dashboard. Those ride requirements are for you personally. They may be different for someone else in your market. They will also vary by market. My market in Minneapolis and St. Paul will be different than many other markets. Let’s go take a look at my dashboard, and see how I qualify on a weekly basis.
Looking inside the Power Driver Bonus dashboard in the Lyft app
Here’s my dashboard. We’ll take a look at my driving history, and you can see that I’ve consistently hit at least 55 rides for many months now, sometimes 60 rides, sometimes 70, sometimes even 80. We can take a look at a specific week, so let’s look at September 11th through the 17th. Let’s quick go look at the bonus calculation details, so you can see which tiers are available for me personally. Again, these will be different for each person, and they’ll be different in each market.
I have bonuses of $60, 115, 165, and 250 that are available. The $60 bonus requires 40 total rides, 25 peak, and 90% acceptance. The 115, which I achieved that week, requires 60 total rides, 25 peak, same acceptance. The 165 requires 80 total, 35 peak, and the 250 requires 100 total, and 40 peak. You can also see how I drove that week. I drove one, two, three, four, five, six, seven, eight, nine, 10, 11, 12, 13, 14, about 15 peak hours. Again, I achieved the 60 ride, $115 bonus.
The Power Driver Bonus can significantly increase your hourly pay
We’ll go back and take a look at my actual earnings for that week. I earned $597.50, I gave 60 rides in about 25.5 hours, ride payments were $552.68, tips were $39, bonuses were $1.68, Lyft fees were $110.86, but I earned all of those back by hitting the $115 Power Driver Bonus. You can also see my daily rides that week. I gave eight on Monday, 26 on Tuesday, seven on Wednesday, four on Thursday, and 15 on Friday. There it is, pretty straight forward. I earned $597.50 in about 25.5 hours. Before the bonus, I was earning about $19 an hour, and after the bonus that goes up to about $23.5 an hour.
Let’s quickly review: The Power Driver Bonus is a weekly bonus based on the amount of rides given for the week. There’s an emphasis on giving rides during peak hours, hours when demand is the highest. Ride requirements are specific to each person, and market. It’s a fantastic bonus, and the reason I now drive exclusively for Lyft.
How to consistently achieve the bonus
As far as some tips to consistently achieving the bonus, one is you want to maximize your peak hours. Those are the hours when you’ll get the bulk of your rides. I also recommend starting peak hours near a downtown, or prime area. You should have shorter wait times, and a closer pickup radius. Also, don’t chase rides, be patient and allow the rides to come to you. I hope this video gives you the confidence to try and achieve the Power Driver Bonus yourself. It is a great incentive, and a way to drive more economically, by earning back nearly all of your commissions. Thanks for watching. Please like, comment, or subscribe, and drive safe!
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