Black cab drivers in London are referred to as “cabbies” or “taxi drivers.” The Licensed cab Drivers’ Association (LTDA) estimates that a London cab driver has an average annual income of between £30,000 and £35,000. This is only an average, and depending on their unique circumstances, many drivers make more or less than this sum.
Black cab drivers in London may make more or less depending on the number of hours they put in, the time of day, and the location of the city they serve. In general, drivers who work longer shifts during busy periods or in crowded areas of the city will make more money than those who work shorter shifts during slow times or in secluded locations. How Much Money Do Edinburgh Taxi Drivers Make?
Similar to London, Edinburgh’s taxi drivers’ pay may vary based on a variety of circumstances. According to a poll conducted by the Edinburgh Taxi Trade Partnership (ETTP), a taxi driver in Edinburgh typically earns between £25,000 and £30,000 annually. In contrast, many drivers make more or less than this amount based on their unique circumstances, just like in London. How Many Taxi Drivers Do You Think There Are in South Africa? Around 200,000 minibus taxi drivers work in South Africa, according to a research by the South African National Taxi Council (SANTACO). It’s crucial to keep in mind, though, that these drivers behave very differently from black taxi drivers in London and other big cities. In South Africa, minibus taxis are mainly rented by drivers from individuals or small groups of proprietors.
Taxi drivers’ pay in New York City can vary significantly depending on the same variables that affect their pay in London and Edinburgh. The New York City Taxi and Limousine Commission (TLC) said that the typical annual salary for a yellow cab driver in NYC is between $30,000 and $40,000. Nevertheless, depending on the specific conditions of the driver, this number could be much higher or lower. Is Purchasing a Taxi Medallion Valuable?
Taxi drivers may need to buy a “medallion” in various cities in order to drive a taxi. The cost of these medallions can be high; at one point, the price in New York City exceeded $1 million. However, the value of these medallions has significantly decreased in recent years due to the growth of ride-sharing services like Uber and Lyft. As a result, many drivers who purchased medallions are currently having trouble making their payments, and some have even declared bankruptcy.
In conclusion, depending on a variety of variables like location, experience, and hours worked, black taxi drivers’ pay might vary significantly. While some drivers can live comfortably, others can find it difficult to make ends meet. Before selecting whether or not to pursue a career as a black taxi driver, it’s crucial to conduct your research and weigh all of the pros and disadvantages, just like with any other profession.
A NYC taxi medallion is now only worth between $150,000 and $200,000, down substantially from its peak value of over $1 million as of 2021.