The American Trucking Associations (ATA) reported last week that the median pay for a trucker working a national irregular route has increased by $7,000 yearly — or 15 percent — since 2013.
The report also revealed that salaries of private fleet drivers went up by 18 percent — from $73,000 to over $86,000.
The ATA’s Chief Economist Bob Costello said, “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.”
Costello also said the survey shows that “carriers are offering thousands of dollars in bonuses to attract new drivers.”
“And once drivers are in the door, fleets are offering benefits like paid leave, health insurance and 401(k)s to keep them.”
The ATA’s findings coincide with previous announcements by various fleets of an increase in their drivers’ salaries.
Top fleets announce an increase in driver pay
Earlier this year, three of the top 250 fleets in the U.S. — American Central Transport, Cargo Transporters, and K&B Transportation — announced pay increases for their drivers.
The pay increase was at least partly attributed to better management, efficient planning, and improved market conditions following the implementation of the ELD mandate.
The ATA’s report is supported by data from the Quarterly National Survey of Driver Wages compiled by the National Transportation Institute. NTI’s Chief Operating Officer Leah Shaver said, “Driver compensation is changing faster than it has since 2015. We’re seeing unprecedented movement in driver pay.”
NTI’s survey showed that truckload driver pay rose by an average of 2.9 cents per mile in the first quarter of this year, with pay hikes of 3 cents per mile for flatbed and 3.3 cents per mile for reefer drivers.
The ATA report also comes after the American Transportation Research Institute reported that carrier costs related to driver pay are increasing over the past few years.
Driver pay in 2018
FTR Transportation Intelligence Vice President of Research Avery Vise told that driver pay increase would be the biggest “cost pressure” on carriers this year.
Vise noted that conditions in the trucking market could prompt drivers to seek a substantial pay hike in 2018.
By using feature-rich electronic logging devices and smart fleet management software, carriers are able to minimize operational costs, reduce administrative burden, and increase profits — which allows them to successfully increase their drivers’ pay.
If you are looking for a reliable and feature-rich ELD solution, try KeepTruckin.
If you have any questions, give us a call at 855-434-ELOG or send us an email at firstname.lastname@example.org.