How Much Do London Cab Drivers Make?

By Anna Duncan

London black cab drivers, also known as licensed taxi drivers or hackney carriage drivers, are a unique breed in the world of transportation. These drivers are known for their knowledge of the city’s streets, landmarks, and shortcuts.

However, one question that often comes up is how much do London cab drivers make? Let’s dive deeper into this topic.

How Much Do London Cab Drivers Earn?

The answer to this question can vary depending on various factors such as the driver’s experience, the number of hours they work per week, and where they operate. According to research conducted by Payscale in 2021, the average salary for a London cab driver is around £30,000 per year. This figure may seem low compared to other professions but it is important to note that a significant portion of their income comes from tips.

The Cost of Becoming a Licensed Taxi Driver

Becoming a licensed taxi driver in London is not an easy task. The process involves passing rigorous tests such as “The Knowledge,” which tests drivers’ knowledge of over 25,000 streets and 20,000 landmarks within six miles of Charing Cross. The cost of taking this test alone can range from £1,200 to £2,000 depending on how long it takes you to pass.

In addition to The Knowledge test fees, aspiring taxi drivers need to fork out for medical checks and obtaining the appropriate driving license. It’s also worth noting that becoming a black cab driver is an investment in time as well as money; the average time taken to complete all requirements is two years.

Tips Are Essential for Earnings

As mentioned earlier, tips form an essential part of a London cab driver’s earnings. On average, it is estimated that around 20% – 25% of their income comes from tips provided by passengers. However, there is no guarantee that passengers will tip, so it can be difficult to predict earnings accurately.

Working Hours and Overtime Pay

London cab drivers are self-employed and have control over their working hours. They can work as much or as little as they want, and many drivers choose to work long hours to maximize their earnings potential. However, it’s important to remember that the more hours worked, the more expenses incurred such as fuel costs.

Additionally, if drivers work over 48 hours per week, they are entitled to overtime pay at a rate of 1.5 times their normal hourly rate.

Conclusion

In summary, London cab drivers can earn an average salary of around £30,000 per year with the potential to earn more through tips. Becoming a licensed taxi driver requires significant investment in both time and money. However, the flexibility of working hours and the ability to be your own boss make it an attractive profession for many people.