To attract new talent, the American Trucking Associations reports that many carriers are now offering competitive benefit packages and salaries that far surpass the $44,500 mean annual wage reported last year. According to the ATA’s most recent survey, some companies are now paying truck load drivers an average of $53,000 per year, while some private fleet drivers are seeing $86,000 salaries.
The new survey data reveals an increase in driver compensation as a competitive market boosts driver pay and Benefit Packages.
The data from the American Trucking Associations’ latest Driver Compensation Study, shows driver pay has climbed as rising demand for freight transportation services has increased competition for increasingly scarce drivers.
“This latest survey, which includes data from more than 100,000 drivers, shows that fleets are reacting to an increasingly tight market for drivers by boosting pay, improving benefit packages and offering other enticements to recruit and retain safe and experienced drivers,” ATA Chief Economist Bob Costello said in a press release.
According to the study, the median salary for a truckload driver working a national, irregular route was over $53,000 – a $7,000 increase from ATA’s last survey, which covered annual pay for 2013, or an increase of 15%. A private fleet driver saw their pay rise to more than $86,000 from $73,000 or a gain of nearly 18%.
In addition to rising pay, Costello said fleets were offering generous signing bonuses and benefit packages to attract and keep drivers.
“Our survey told us that carriers are offering thousands of dollars in bonuses to attract new drivers,” Costello said. “And once drivers are in the door, fleets are offering benefits like paid leave, health insurance and 401(k)s to keep them.
“This data demonstrates that fleets are reacting to concerns about the driver shortage by raising pay and working to make the job more attractive,” he said. “I expect that trend to continue as demand for trucking services increases as our economy grows.”
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