The American Trucking Associations released the results of its latest Driver Compensation Study showing that, despite a currently challenging freight market for motor carriers, driver wages continue to increase post-pandemic.
The study provides detailed wage and benefit information for drivers based on a wide-ranging survey that collected data from 120 fleets, more than 150,000 employee drivers and 14,000 independent contractors.
Among the key findings in this year’s survey:
- Truckload drivers earned a median annual amount of $76,420 in 2023—a 10% increase over the previous two years.
- Linehaul less-than-truckload drivers earned a median annual amount of $94,525 in 2023, while local LTL drivers earned a median of $80,680.
- Median annual compensation for drivers at private carriers has risen 12% since 2021, reaching $95,114 in 2023.
- Leased-on independent contractors for truckload carriers were paid an annual median amount of $186,016 in 2023.
- Carriers offered smaller referral perks and fewer sign-on bonuses for new drivers in 2023 compared to 2021, but they more frequently offered tenure bonuses to their current drivers and with a greater median value.
“While our last study, conducted in 2021, illustrated how drivers benefited from the strongest freight environment in a generation, this latest report shows professional drivers’ earnings are still rising—even in a weaker freight economy,” said Bob Costello, chief economist, American Trucking Associations. “By offering greater tenure bonuses to their current driver force, many fleets appear to be shifting their workforce priorities from recruitment to retention.”
The post Trucking wages continue to rise despite economic challenges appeared first on Floor Covering News.
Trucking wages continue to rise despite economic challenges Posted First on https://fcnews.net
No comments:
Post a Comment