One of the most important concerns on your mind if you’re thinking about becoming a truck driver is definitely, “How much money do truck drivers make?”
That question has a succinct answer: “It depends.”
While working as a truck driver can offer a wonderful chance to earn a competitive salary and perks, there are numerous aspects that may affect your earnings.
Truck Driver Salary Average
The average annual wage for drivers, according to the survey, is $43,680, or almost $21 per hour. Three years ago, the top 10% of drivers earned over $65k annually, while the worst 10% earned less than $28,160. This indicates an increasing tendency, which is predicted to last.
A typical truck driver’s annual salary ranges from $25,740 to $70,000, with a median income of $39,520.
Many companies pay their truck drivers by the mile – The average truck driver’s pay per mile is between 28 and 40 cents per mile. Most drivers complete between 2,000 and 3,000 miles per week. That translates into average weekly pay ranging from $560 to $1,200. If you drove all 52 weeks in a year at those rates, you would earn between $29,120 and $62,400.
The company a truck driver works for, whether they are independent contractors, team drivers, or solo drivers, affects their average compensation. The type of truck you drive—whether a tanker, flatbed, or refrigerated—also affects your pay.
Solo refrigeration business owners make between 44 and 49 cents per mile. An average week’s mileage for a driver for a refrigerated company is between 2,400 and 2,800 miles, and their pay ranges from $1,128 to $1,316. The total amount they would earn if they traveled the same distance for the full 52-week period would be between $58,656 and $68,432.
Drivers for flatbed solo companies make 46 cents per mile. Similar to the previous example, a flatbed driver typically logs 2,200–2,600 miles per week and makes between $968 and $1,144. Earnings would total $50,336 to $59,488 throughout the course of 52 weeks.
Drivers for tanker alone companies make 51 cents per mile. Earnings would vary from $882 to $1,078 each week and $45,864 to $56,056 over the course of a 52-week period if the driver completed the normal 1,800 to 2,200 miles per week.
Different Types of Truck Driving Jobs
Tow Truck Drivers
There are numerous possibilities if you’ve ever wondered how much tow truck drivers make. It is conceivable for a tow truck driver to work more than the standard 40 hours per week. Drivers are always on call throughout the winter since they are frequently called to accident scenes or cars that are trapped in the ditch. Call volume tends to rise around long weekends and holidays. So, tow truck drivers can anticipate earning an hourly rate of about $15.
The average tow truck driver earns $36,920 per year. With an estimated 22% federal tax rate, he could expect to take home $36,920. This translates into a $1,538 paycheck per month. The calculator considers a bi-monthly pay period and uses federal and state tax tables from 2018. This does not account for the costs of Metro-specific taxes. If you have towing experience, you can expect to make at least half of this figure.
Semi-Truck Drivers
Owner-operators can earn more over $60k a year, despite the fact that trucker salaries might vary greatly. But bear in mind that your route and revenue will determine how much money you make. Here are some suggestions for boosting your income. First, look for a trucking job that is not too far from your existing residence.
Even though many trucking businesses give their workers comparable benefits, you should learn more about each one. While incentives and bonuses are widespread, you can also discover that every business has its own particular advantages. You can be qualified for incentives in addition to base salaries, such as paid time off and other benefits. Your wage rises as your experience increases. Furthermore, the more dispatched miles you complete, the higher your pay.
Garbage Truck Drivers
When it comes to garbage truck drivers’ wages, New York comes out on top. The top 10% of earners earn $22 or more per hour, with the typical hourly salary being $16. Even though there is a great need for garbage truck drivers, New York pays more than most other states for the same work. Garbage truck drivers in New York City can make up to $112,000 a year. Even if there isn’t much of a difference, New York has a great job market and garbage truck drivers typically earn more than the national average.
The national average salary for garbage truck drivers is $43,319 per year. The average bonus is $2,500, which represents about 6% of the overall salary. 100% of garbage truck drivers report receiving bonuses. Salaries vary depending on location and experience, but the San Francisco garbage truck driver earns the highest salary in the nation, at $60,979 per year. Additionally, garbage truck drivers make about $13 per day on average.
Monster Truck Drivers
Monster truck drivers’ pay is influenced by a variety of things, including their popularity and level of expertise. Even though the wealthiest drivers may earn a lot of money, the majority of them keep their salaries a secret. They also spend a lot of time away from home for shows, so the pay is extremely variable. While some monster truck drivers hire a staff, others perform the mechanical work themselves. Monster truck drivers can earn incentives and side gigs in addition to their regular earnings.
Depending on how many shows a driver puts on, monster truck drivers earn varying average wages. An entry-level driver might anticipate earning between $2,000 and $6,000 every show, with the sum rising as they develop more expertise and notoriety. The operational costs of the truck, travel expenditures and other costs related to the monster truck circuit are typically covered by sponsors for monster truck teams. A new driver will make more money than this, but in order to live comfortably on the wage, he or she should also work a second job.
In order to make a monster truck driver’s salary, you must first acquire a driver’s license. There are several ways to get your license. For example, you can volunteer at monster truck events or work on the pit crew. These contacts will help you match the right truck to the right driver and procure the necessary sponsorships. You can also start driving your monster truck when you’re a teenager. You may even be able to get a license as early as fourteen.
See more about How Much Does An Ice Road Trucker Make
Things That Affect Company Driver Income
First things first, an OTR driver’s typical compensation in the trucking sector can vary greatly — by as much as 35%! The examples in the preceding paragraph illustrate how significantly the salaries of the most compensated and lowest compensated truck drivers differ. The amount of money a truck driver can earn and take home to their family depends on a variety of factors.
Some factors are in the driver’s control such as education, experience, and job types such as regional drivers, team drivers, dedicated drivers, and high-risk professions such as ice road trucking. Team drivers are two drivers in the same truck working together by taking turns behind the wheel instead of a dedicated driver that is assigned a specific route and truck. Other factors are not as controlled by the driver such as starting pay, the amount of work available, and adverse weather conditions which would affect a driver’s ability to work depending upon the type of work.
Typically, truckers are compensated per mile, per hour, per day, or per trip. Truck drivers that are paid per mile have the option of driving more to increase their earnings. Local work is typically compensated hourly for drivers. Companies will set a daily minimum wage for their drivers so that their compensation is always predictable. With the firm they are driving for, drivers who are paid each trip typically receive a predetermined percentage of the trip’s earnings.
Other Pay Incentives
Are you wondering how to become a successful truck driver? Over the past few years, salaries and other bonuses that are earned on top of the driver’s base pay, such as referral bonuses, have continued to rise, giving truck drivers more control over their take-home pay. Here are a few more compensation options that employers provide to their staff.
Referral Bonus
To give drivers more opportunities to contribute more money to their checks, businesses have developed several mechanisms. Due to the industry’s present labor shortage, programs like bonuses provided for referring new recruits to the company are popular. The business offers drivers who refer their friends and family a bonus of $2,000 for the first six months of the new employee’s employment.
Safety Bonus
Safety is not only crucial but also a top priority for everyone working in the trucking sector, including the CEO, dispatcher, and drivers. Companies will provide safety bonuses that allow drivers to obtain a bonus in addition to their salary provided they can demonstrate that they are maintaining the equipment properly and abiding by all established laws and regulations. In addition to a safety bonus, the corporation rewards its drivers up to $300 per instance if they pass inspections! This will guarantee that when they are stopped by patrol, they won’t be concerned about the condition of their tools or logs.
Performance Bonus
A performance bonus was developed to provide corporate drivers with additional motivation to meet a goal set with the employer regarding a specific amount of miles to hit that week or a monthly mileage bonus. This benefits the salary of truck drivers, as well as giving them a target to work toward and a sense of satisfaction when they achieve it. An additional bonus given to truck drivers is a fuel economy bonus, which rewards them for operating their vehicles efficiently. Other ways to compensate drivers for their time spent at shippers and receivers include detention pay and layover compensation.