When to Brake & Shift Gears In Your Driving Career

Join RSG Contributor Jay Cradeur as he helps you reevaluate your career in ridesharing.

Greetings, fellow drivers! As someone who has completed over 30,000 rides, I’ve seen the ups and downs of the Uber driving landscape.?

In this article, I aim to share insights and advice for drivers contemplating whether it's time to reduce their hours or even step away from Uber driving, especially in this challenging economic climate with an increasingly saturated market.?

As of this writing, I have just completed a five-month hiatus. I got back on the road for 10 hours last weekend. My expectations were low, and I had a blast.

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Background?

The gig economy, particularly the ride-sharing sector, has undergone significant changes. With more drivers on the road, unpredictable upfront pricing, and evolving customer behaviors, it's crucial to reassess our place in this ecosystem.?

The decision to continue driving or to explore new paths is not just about earnings but also about personal fulfillment and financial wisdom.

1. Facing the Reality of Market Saturation?

First and foremost, facing the facts is essential: the market is more saturated than ever. Every statistic indicates more drivers are on the road now than a year ago.?

With the economy slowing down, even more folks will realize the flexibility and earning potential of rideshare driving. Couple that with bonuses shrinking, and surge pricing is less frequent.?

This new reality means lower earnings for many. Assessing this shift objectively is vital in making an informed decision about your future in this field. This past weekend, I did not feel the saturation.?

I drove without stopping for two hours. Then, as always, there was a slowdown for about twenty minutes around seven o’clock. Then, it picked back up until I finished driving two hours later.?

Since I drive early in the morning, perhaps the market saturation is not as impactful.

2. Calculating Your True Earnings?

How much are you earning after accounting for all expenses? Consider fuel costs, vehicle maintenance, insurance, and other associated expenses. Often, the net income is lower than anticipated.?

A thorough analysis of your earnings versus costs will clarify the financial viability of continuing as an Uber driver. This is something we all need to keep in mind.?

If I earn $30 per hour from revenue, my earnings are closer to $20 per hour after deducting gas, depreciation, and taxes. Be realistic about your earnings to make an educated decision about your future.

3. Passion for Driving?

Ask yourself, do you genuinely love driving? If the joy of being on the road isn’t there, it might be time to consider other opportunities. Driving, especially for a service like Uber, demands enthusiasm and energy.?

If these are lacking, it could be a sign to explore different paths. During my five months off, I did not think about driving. Nothing excited me about getting back in my car.?

Then, last week, I realized I missed the sunrises, the Starbucks cold brew, and those one or two conversations that would teach me something I did not know. My passion came back. If it had not, I would still be in hiatus mode.

4. Exploring Alternative Passions?

What else ignites your passion? Reflect on your skills, interests, and what you genuinely love doing.?

There may be other careers or side gigs that align more closely with your interests and can offer greater satisfaction or better financial returns. Since my passions are day trading and health, I can pursue each during the week.?

My weekends are free. The key here is to find something you love to do. Maybe driving IS your passion. Maybe not. Or it is, but the money is not good enough for you now. It is always good to have options.

5. Overcoming the Fear of Change?

Fear is a common barrier to making significant life changes. The uncertainty of stepping into a new career path can be daunting.?

However, embracing change can often lead to more fulfilling and sustainable opportunities. It’s crucial to weigh the risks against the potential benefits of a new direction.

6. Vision for the Future?

Having a clear vision of what you're working toward is essential. Whether it’s a different career, more time with family, or pursuing a long-held dream, keep this vision at the forefront of your decision-making process.?

A well-defined goal can provide the motivation and direction needed for a successful transition. This image above is one that I see every day. It is an image of a high-rise condo in Bangkok.?

That is where I will end up. It is as clear of a vision as there can be. It is good to know exactly what you want and remind yourself as often as possible.?

This way, when any decision needs to be made, you can ask yourself, “Does this move me closer to my vision?” If it does, go for it.

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Key Takeaways

While I have been an Uber and Lyft driver for eight years, I have only been actively driving for five of the eight. The pandemic forced me to the sidelines. Then I found new passions, and now driving is part-time.?

We all have our unique relationship with our driving careers. This article invites you to evaluate your driving career and ask if it is still the best use of your time.?

The current market for Uber drivers is more competitive, with less potential for high earnings. A realistic assessment of your actual net income is crucial in deciding whether to continue.

Your passion for driving, or lack thereof, is a key indicator of whether you should stay in this line of work. Explore other interests or passions that could lead to more fulfilling or profitable endeavors.?

Overcoming the fear of change is a significant step in pursuing a new career. Finally, a clear vision of your future goals and aspirations will guide your decisions and actions.?

As drivers in a rapidly evolving market, we must regularly assess our place and satisfaction in this role.?

Whether it's time to reduce your driving hours or shift gears entirely, remember that your well-being and financial stability are paramount. Reflect on these points, and may your journey be fulfilling and prosperous.?

Have safe travels, and best of luck in your future endeavors!

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