How much does Bolt Pay?

You’re late for something important or just knackered after a long day and want to get home earlier? You might need a ride-hailing app to help you whenever these situations appear. Bolt is one of the most famous services in this context in the UK and worldwide, and you can request a ride 24/7.

Nowadays, more and more people are looking for flexible work schedules that fit their lifestyles. Gig economy jobs offer exactly that: a way to make some extra cash without being tied down to a 9-5 job. And that’s where Bolt comes in, offering a flexible way to earn money by driving passengers around town.

In this article, we’ll look at how much money you can make being a Bolt driver, the factors that may affect your income, weigh up the pros and cons of the job, and how to make your salary go further if you're traveling or transferring money with Wise!

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How much does the average Bolt driver make per year?

Based on the information provided on Glassdoor, the typical Bolt Driver salary is £10 per hour, but it can range from £5-£22 due to the bonuses and fees. An average of 40 hours worked per week and 52 weeks a year would add up to £11,000-£47,000 per year. It’s important to note that these figures are estimations based on the given salary range and assumptions about working hours.¹

The minimum wage you receive per hour depends on your age. If you’re 23 years and older, you’re entitled to the National Living Wage (NLW), which is £10.42 per hour. For people aged 21 and 22, the hourly wage is £10.18, while those between 18 and 20 years old get £7.49 per hour. If you’re under 18 or an apprentice, the hourly wage is £5.28. In this situation, the average bolt driver salary is around the NLW, but it can be way bigger since the value here is estimated.²

How much do Bolt drivers get paid/earn?

A trip price is calculated based on the base fare, which is the pickup price; the minute rate, time from start to end of a trip; and the distance rate, the distance of the journey covered. Other factors influencing this value are the demand for rides in your area, applying dynamic pricing, and airport or wait time fees, if applicable. The rest of your pay comes from any tips or bonuses you may have received. From the ride fee, Bolt charges a 10% to 20% commission calculated automatically and deducted from the weekly earnings. This commission doesn’t apply to tips, bonuses, or additional fees.

A helpful tip to maximize your earnings is to work during happy hour or rush hour, at weekends, or late at night, where you may be able to earn more. Tips and bonuses can also increase over time to significantly boost a driver’s earnings. Bolt passengers have the option to tip their drivers in the app during and after the ride, and you can collect 100% of them.

Benefits of working with Bolt

The most significant appeal of working as a Bolt driver lies in this gig's flexibility and freedom. No more clocking in and out or answering a boss: you decide when you want to hit the road and take on passengers, scheduling your work around your other commitments. If you’re willing to work during peak times, when there’s more demand, and focus on busy areas, you have the chance to pocket some extra dough. Bolt emphasizes that drivers can “earn on your terms,” so you can call the shots on the road. You can control how you provide the service, so you can take the scenic route, crank up the tunes, and make the experience as enjoyable as possible.

But we need to look at both sides of the coin, and there are some areas where being a Bolt driver falls short. One example is the job security and lack of benefits. Since you’re classified as a self-employed driver, you don’t have the same level of job security as traditional employment. You also won’t have access to benefits like sick pay or holiday pay. Another drawback is related to the wear and tear on your vehicle. You’re spending more fuel, maintenance, and depreciation, so you need to factor in vehicle upkeep costs and the impact on its lifespan.

Sending money with Wise

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Please see the Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.

After going through this guide, you should be ready to start working as a Bolt driver. This jobs pros include a flexible work schedule and the opportunity for increased pay during peak hours when theres more demand. However, the cons shouldn’t be ignored, such as the lack of job security and fluctuating income.

Sources used:

Sources last checked on date: 17-May-2023