Do NYC cab drivers make good money?

$51K. The estimated total pay for a Taxi Driver is $51,161 per year in the New York City, NY area, with an average salary of $48,645 per year. These numbers represent the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users.



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According to data from the Bureau of Labor Statistics (BLS), the median annual salary for taxi drivers and chauffeurs in the US is $30,050. This works out at around $14.50 an hour. Taxi drivers earn much lower than the average salary in the US.

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But the boom in popularity of ride-hailing services, like Uber and Lyft, severely cut into taxi industry profits in recent years. The loans began to inflate because of predatory lending practices and industry leaders' driving up of the medallion prices. This meant crushing debt for owners.

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Tips are big business in New York, as they are in the rest of the US. But sadly you'll be expected to pay over the odds in the Big Apple. 20% of the fee is the recommended amount. If you're paying with card instead of cold hard cash, the amount of gratuity will automatically be added to the charge.

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As a taxi driver you'll spend many hours of your day sitting behind the wheel, and this can cause a lot of stress on your body. Regular physical activity helps reduce the effects of stress by: Encouraging the release of 'feel good' endorphins.

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Yes, taxi cab driver jobs are in demand. Taxi cab driver demand is projected to grow 20% from 2018 to 2028.

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These drivers often work 10–12 hours a day, six days a week (2). Research across various cities has shown that these long hours, combined with the sedentary nature of their work, high stress, and low rates of insurance and healthcare access (3), contribute to poor health outcomes (4–6).

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With the potential to earn a good wage and tips, taxi driving can provide a decent standard of living. While the flexible work schedule is an advantage, it can also be a disadvantage, as taxi drivers often have to work long hours, especially during peak times. This can lead to burnout and a lack of work-life balance.

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For years 20% has been considered a generous tip when dining in at a restaurant, but according to the magazine, 20% is now the bare minimum and anyone who leaves anything less is rude. Additionally, the magazine says you should be leaving $1 whenever you pick up a coffee and tipping at least 10% when you grab takeout.

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