Let’s say Lyft is offering $1,500 weekly guarantees in San Francisco for eligible new drivers’ first four weeks. In this example, eligible new drivers need to be Lyft-approved within 30 days of applying, and then fulfill the requirements for any of the four weeks to be eligible for that week: Give 50 rides, drive for 50 hours, and maintain a 90% weekly acceptance rate.
John applies to drive with Lyft in San Francisco on Wednesday, Jan. 1, by clicking on a Facebook advertisement about Lyft’s weekly guarantees. He completes the application process (after filling out the online application, completing a Mentor Session, and passing his background checks) on Saturday, Jan. 25, which is within 30 days of his original Jan. 1 application date. So far, he’s eligible for San Francisco’s $1,500 weekly guarantees.
His first $1,500-guarantee week begins at 5 a.m. on the first Monday after Lyft approval. For John, that means Monday, Jan. 27. He has from 5 a.m. on Monday, Jan. 27 until 4:59 a.m. on Monday, Feb. 3 to fulfill the requirements for that week. John gives 50 rides and spends 52 hours in driver mode that week, all while achieving a 97% weekly acceptance rate. He didn’t give any rides during some of those 52 hours, but that doesn’t matter, as long as he gives at least 50 total rides that week. This means he’s eligible for the first week’s guarantee. During the week, he makes $1,000 in ride payments and tips — that’s a $500 difference from the $1,500 guarantee. After removing the applicable commission rate (20%, in this example), we’ll bonus John $400. He’ll see the extra bonus listed in weekly summary on Tuesday, Feb. 4, and will receive the funds in that week’s direct deposit.
John can repeat this process for each of the four weeks. If he only drives for 45 hours during the second week, he won’t be eligible for that week’s guarantee, but can still give it another try during the third week. Let’s say he fulfills the requirements for the fourth week and makes $1,600 in ride payments and tips — in this case, we wouldn’t need to bonus him an additional amount, because he achieved the guaranteed amount on his own.