How much do taxi drivers make?
If you’re thinking of getting into the taxi business but not sure how much do taxi drivers make, then this guide will serve as your guiding light. Not only will you learn about salary range but also the good and bad sides of this business, the skills you might need to be a great taxi driver and more.
So if you are ready to absorb all the value this guide has like a sponge, stick to it like glue till the end; we’ll share some great insights. That said, let’s dive right in:
So, How Much Do Taxi Drivers Make in the U.K?
Well, this is a question with no sure-shot answer to how much do taxi drivers make. Different factors contribute to the salary of an individual, and according to CheckaSalary; the pay of a UK taxi driver can range from £18,000 to £50,000 per year depending. Here are a few factors that contribute to the income of a taxi driver:
- Working Hours: If someone is driving a taxi part-time, they will make less amount of money than someone who’s on the road throughout the day.
- Job Type: how much does a taxi driver make also depends on whether he’s independent or working with a company. Someone working with a private taxi company may make less, but there’s a guaranteed basic income whether they get a ride or not. Self-employed taxi driver salary in Uk is different; they keep everything they get from a ride, so they may be making more, but the earning fluctuates depending on the number of rides.
- Age/Experience: Younger drivers tend to make less as compared to more mature ones. The reason is experience. People with more experience are more desirable by taxi companies, so they offer better pay to them. However, if you’re an independent taxi driver, experience or age may not be that relevant.
There are a few more factors like the type of taxi, whether it’s a hackney carriage or a private hire, that also affect the overall income.
What Are The Pros & Cons of Being a Taxi Driver?
Since you are searching for topics like how much do taxi drivers make in the U.K per year, it’s evident you’re looking to jump into this industry. If so, it’s crucial you go through the pros and cons of being a taxi driver so you can make a well-informed decision. That said, let’s start:
Pros of Being a Taxi Driver:
Chance to Meet Different Types of People
The typical average age of a taxi passenger ranges from 25 to 35 in ride-sharing services like Uber. So even though you’ll meet different people, they won’t be from very broad age levels. However, if you’re a taxi driver, you can meet people of all age groups.
This can range from a 70-year-old grandma going to visit her grandchildren to a 45-year-old businessman coming from a meeting. So if you’re someone who likes to meet and interact with new people and listen to their stories, being a taxi driver is a great way to do so
You Can Use Your Knowledge:
If you’re an Uber driver, you’re mostly reliant on the GPS to get around the area. They don’t need to have any prior knowledge of possible shortcuts or neighbourhoods.
However, being a taxi driver with a few years on the road will give you the experience to easily navigate through the area and take routes that’ll save your and your clients’ time. Plus, you can still use GPS if you’re in an unfamiliar neighbourhood.
Higher Chances of Getting Tips:
The problem with Uber is that their app doesn’t have much space for tips when the customer is making the payment, which can compromise the tip for your exceptional service. And since most Uber passengers make cashless payments, getting the tip in hard cash has very low chances.
This is not the case with taxis. You are mostly paid in cash and that too, with a good tip if you go an extra mile (no pun intended) with the service.
Being a Part of Taxi Fraternity:
With the rise of ride-sharing platforms like Uber, taxi drivers have suffered a loss in the form of a customer base which obviously directly impacted their finances.
This created a mindset of ‘them against us’ among the taxi community. This means being a taxi driver; you can get to be a part of the camaraderie in the taxi frat that’s not possible with Uber.
Cons of Being a Taxi Driver:
You May Get Beaten by the Price:
Depending on what the ride-sharing platforms’ fares are in your area, you can get some heavy price competition. People have already been brainwashed by such companies that taxis are always expensive, which is why without trying to finding out how much is taxi fare, many may opt for an Uber ride.
However, their surge pricing factor that comes into effect at different times of the day will keep the demand for taxi service steady as well.
No Taxi Insurance Policy:
Ride-sharing platforms have insurance policies for their drivers, but if you’re an independent taxi driver, you’ll have to get one for yourself.
However, if you’re working for a taxi company, your employer might get one for you, saving you some extra quid every month.
Important Qualities Needed for Being a Taxi Driver:
If you’re with us till now, then it means you’re determined to put your foot into the door of the taxi service industry. Well, then before you close this page and watch Robert De Niro’s Taxi Driver to get some tips, go through the things you need in actual life to be a good taxi driver below:
- Excellent Customer Service: This is something you can never compromise on, especially if you want to gather good testimonials and generous tips from your clients. As a taxi driver, you will have to interact with people on a daily basis, so it’s important to be friendly and pleasant every day. It might be a little difficult to maintain that mood, but it’ll become a route soon.
- Reliability: If you’re working as a private hire taxi or someone who takes bookings in advance, then being punctual and reliable is a MUST. You’ll be trusted by clients to pick them up at given times; many will have important, time-sensitive affairs to attend to, you need to be there for them on time.
- Driving Skills: You don’t have to be Dom Toretto from Fast & Furious, but still, you’ll need good hand and eye coordination and excellent focus to protect your passengers and the taxi from any accidents. Being alert is part of the job.
- Self-Starting: You need to be an initiative-taker; there won’t be any bosses surveying your every move. This means leaving home on time and doing your best to get a certain number of rides is mandatory.
- Lots of Patience: People mostly ask how much do taxi drivers make, but they never ask how they do it. Well, they do it not just by driving cars around the roads but by being patient. These guys are superheroes who have to put up with rude and drunk passengers and still not utter a word of disrespect. It’s not like they have to do it. But because it’s part of their job. The better they treat someone, the less hassle, and pointless arguments. Plus, not losing the temper in congestion and heavy traffic is also a skill you need to master.
- Good Eye-Sight: In some states, drivers need to pass a mandatory sight test before they can get behind the wheel. This is necessary to ensure their and their passengers’ safety.
How to Start A Taxi Company?
Last but not least, you can start your own private hire taxi service and make more money. This is a great way to get a big chunk of income from the industry with a size of $9,570 million. However, we won’t suggest you do it right away if don’t have any practical experience.
Spend a few years pushing the pedal, and when you’re experienced, then you can set up your own company, do some marketing and start banking more money. We have a great guide on how to start your taxi service business, read it here.
Wrapping It Up:
Whether you are working as an independent taxi service provider or with a private company, knowing how much does a taxi driver make is a key metric to evaluate whether you want to step into this industry or not.
And if you’ve decided to join this business, then acquire the skills (besides driving) that we’ve mentioned above for quick growth in this career; otherwise, you may get stuck behind the wheel for decades.