Urban Company is one of the few aggregator platforms in the gig economy globally, which has been publishing its partner earnings transparently for the last 2 years. We are happy ...
4 min read
Urban Company is one of the few aggregator platforms in the gig economy globally, which has been publishing its partner earnings transparently for the last 2 years. We are happy to present the 6th edition of the UC Partner Earnings Index for H2 CY23, which has been audited by the audit firm JC Bhalla & Company. Links to previous editions of the UC Partner Earnings Index are given below.
Key takeaways:
Service partners who deliver more than 30 services in a month (i.e. 1 service delivery a day), earned an average of INR 33,469 per month, net of all commissions, fees, travel and product costs in H1 CY23 (up by over 3% over H1 CY23). Further, average monthly earnings of the top 20% of UC service partners is INR 42,792, net of all commissions, fees, travel and product costs. These earnings are approximately 50% higher than the average earnings in an entry-level IT job in India (as per Talent.com, the average CTC of IT freshers in India is INR 347,500).
According to the latest NCAER report published in August 2023, gig workers on food delivery platforms earn an average of INR 13,581 monthly net of all costs, after an active long-shift. In comparison, Urban Company Service Partners earn over 82% more than gig workers on food delivery platforms.
Further, as you will notice in the chart below, Urban Company’s partners earnings have risen significantly (13%-18%) over OND 2021 when we first published the Earnings Index.
Our analysis of the hourly earnings of our service partners for H2 CY23 showed that female partners earn 23% more than their male counterparts on the platform. The average hourly earnings of female partners net of all commissions, fees, travel and product costs is INR 363, while the same for male partners is INR 294.
All partners on the Urban Company platform get access to free life, accidental and health insurance cover from the company. In CY23, over 1900 service partners benefitted from the life, accidental and health insurance covers, with over INR 5.51 crores disbursed as insurance claims in CY2023.
We also disbursed INR 31.16 crores worth of loans, including personal loans and service kit loans to Urban Company Service Partners via third-party non-banking financial corporations (NBFCs) in CY23. This is crucial as this allows our service partners to be a part of a formal economic environment that protects them from getting into debt traps with third parties.
In a further attempt to increase the financial know-how of our Service Partners, we continued conducting financial awareness workshops for all our Service Partners in partnership with Knowise Finance Academy. We invested 14,000+ hours in CY23 to train our Service Partners in modern-day finance management techniques, across 12 cities.
Additionally, as part of our wealth creation initiative for service partners, we launched an industry-first Partner Stock Option Plan (PSOP). Till date, over 500 Urban Company service partners have been awarded stock options in Urban Company.
We also conducted a poll to understand the upward social mobility trend among our Service Partners vis-a-vis their increasing earnings. 19,746 Service Partners participated in the poll, of which:
Respect is a cornerstone of job satisfaction, and it’s evident that our Service Partners take pride in their work, delivering exceptional service standards. This respect is a two-way street — as their earnings increase, so does their job satisfaction. We believe that every job, regardless of its nature, deserves dignity, and our ‘Chhota Kaam’ campaign underscores our commitment to narrowing the respect gap between different professions.
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