Most people start driving for Lyft because they want to earn extra cash doing something they love. But there are other ways to make even more money as a rideshare driver: referral and sign-up bonuses.
Here’s what you need to know about both of these bonuses.
Lyft Lets You Choose Your Sign-Up Bonus
One unique thing about Lyft is that they allow drivers to choose their sign-on bonus. Essentially, there are three tiers of bonuses based on how many rides you give in the first 30 days of driving.
- $200 for 100 rides in the first 30 days.
- $100 for 50 rides in the first 30 days.
- $50 for 20 rides in the first 30 days.
Occasionally, Lyft will also run promotions that allow new drivers to earn more cash. For example, drivers may earn an additional $2.67 per ride in the first 60 days, up to $600.
Referral Bonuses are More Lucrative
The sign-up bonus is simple and straightforward, but Lyft also offers a referral bonus that can be more lucrative.
To take advantage of this bonus, you have to receive an invite from an existing driver.
Here’s how the process works:
For New Drivers
New drivers will need to obtain a referral code from an existing driver when signing up. If the driver supplied you with a referral link, the code will automatically be entered for you.
Once the code is active, you’ll need to complete the required number of rides in the first 30 days. Once you meet the requirements, the bonus will be credited to your account.
Ride requirements will vary, depending on your city. In most cases, it’s between 50 and 100 rides. The bonus amount you receive will also be dependent on your city, not the existing driver’s city.
For Existing Drivers
Existing drivers can also earn extra cash by referring friends and family to Lyft. Referral codes can be obtained through the Partner Dashboard by clicking on “Invites.”
Just give the code to friends, and have them enter it when they sign up to become a driver. Each referred driver will need to complete the required number of rides before you can obtain the bonus. Once the ride requirements are met, both you and the new driver will receive credits to your accounts.
Referral Bonus Amounts
The amount earned through referral bonuses can be confusing, especially to new drivers. To make matters worse, Lyft no longer lists the bonus amounts.
Ultimately, the bonus amount depends on the new driver’s location.
Let’s say an existing driver is in Miami. He goes to the “invites” section, and sees that the sign-up bonus is $500. He refers a friend who is also in Miami. They each get a $500 bonus when the ride requirements are met.
Now let’s say that same driver (in Miami) refers a driver who is in Cleveland, and the bonus amount for Cleveland is $300. Both the new and existing driver would get a $300 bonus.
Please note that these are example figures and not the actual bonus figures offered by Lyft.
Bonuses offered by Lyft can range anywhere from $100 to $1,000, depending on location.