The American Trucking Association (ATA) has just released the results of a survey on truck driver compensation, which was conducted among 135,000 employed truck drivers and approximately 20,000 self-employed truck drivers. They were inquired about the rates/salary paid to them as well as the bonuses and benefits they were getting.
In the light of the results, the ATA has concluded that remuneration for truck drivers has increased significantly in 2021 in the context of driver shortage and increased competition among carriers to obtain their services.
Bob Costello, ATA’s chief economist, said: “The data confirms what industry sources have been saying for some time now that driver shortages have been very beneficial to truck drivers, who saw their wages increase last year. Was.”
He says the phenomenon has been generalized across the industry and taking into account various compensation factors, the average salary of a full load driver rose 10.9% last year.
Among the highlights of this survey, we note that:
- The median income for truckload drivers (50% earn less, 50% earn more) was over $69,000, up 18% from the previous survey.
- Over 90% of the full load fleet increased their compensation in 2021, with an average increase of 10.9%. 90% of the fleet offered referral bonuses for new drivers and 54% offered sign-on bonuses.
- All LTL fleets have increased compensation to be paid in 2021, with median income reaching $73,000.
- The median income of a private fleet driver was $85,000.
- Self-employed truck drivers earned an average gross of $164,000 to $235,000, depending on their occupation.
The revenue growth generated by the lack of drivers could eventually help mitigate this.
“These pay increases should debunk the myth surrounding the nature of this work — trucking is one path that could lead to a well-paying career for Americans,” Costello said.