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The average annual salary of truckers

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Kinga Edwards
The average annual salary of truckers

According to ATBS's data, the average annual salary of truckers exceeded $70,000


For the first time since Todd Amen's ATBS firm began tracking wages for fleets and average independent operators, the annual salary of truckers has exceeded the $70,000 mark. The data, announced at ATBS semi-annual virtual report, is based on a massive database of financial information about fleets and drivers. This statistic is a reflection of the benefits that the trucking industry is currently experiencing, following several unprecedented and difficult years.

 

Compiled from records from 135 different fleets, drivers are making a higher revenue per mile every year. According to the ATSB data, this revenue surged by 4.5 percent to $1.55 per mile in comparison to 2020's numbers. Additionally, the report notes that reefer freight, dry freight, independent drivers, and flatbed drivers respectively rose by 2 cents, 5 cents, 11 cents and 15 cents to $1.40, $1.45, $1.75, and $1.94 per mile. All together, these salaries are an average of $70,310, a grand increase of $6,530 from the previous year.

 

Undeniably, the most well-off individuals - the ones topping the ten percent - are garnering an annual income in excess of $225,000. It's an impressive sum, and clearly points to a healthy financial reward for their efforts. This kind of money isn't seen in any other industry, and despite the wages being incredibly high, the truckers sector is still experiencing a lack of personnel. This is an effect of the pandemic, which causes truckers to seek places to rest and take long-warranted vacations. Consequently, trucking companies are always actively trying to recruit new workers, with data showing approximately 60,000 new credentials issued in 2021. Every trucking company in USA is constantly hiring new workers and HMD Trucking is no exception.

 

But this isn't just limited to the fleets. Independent and owner-operators have also seen significant benefits. According to the ATBS data, they have managed to gain a net income advantage of more than $1 per mile when compared to other hired drivers. This is part of the reason why fleets have had such a hard time growing on their own, despite making significant wage improvements. 

 

This wage development not only has a positive economic impact, but it also constitutes an opportunity to encourage more individuals to join the trucking industry. With an exciting potential to earn upwards of $225,000 annually, this field offers stability, liberty, and a prosperous lifestyle. It's definitely worth a deeper look because of the potential it holds. Furthermore, the drives for environmental sustainability and efficiency could be a major incentive for young generations to join this industry and contribute to a more eco-friendly pathway for freight transportation.

 

Truck drivers now have more opportunities than ever before to run their own businesses as a result of recent technological advancements. Many of the key functions associated with trucking can now be completed entirely online, streamlining the process and making the industry more accessible. So many of the typical requirements and procedures can now be completed solely through the internet - making the entire process more streamlined and efficient. Buyers can apply for trucking authority, pay their tax returns, and purchase insurance all from the comfort of their own homes. While having access to this wealth of information has no doubt made truck driving a more viable option for those interested in the industry, there are still several downsides that could potentially leave independent contractors worse for wear. 

 

The primary issue for independent drivers right now is the skyrocketing prices of used trucks. Last summer saw the cost of a truck double overnight, leaving many drivers paying upwards of $2,500 a month to keep the wheels of their vehicle in motion. Maintenance costs have also gone up drastically, with those of a used truck now exceeding 11.7 cents a mile. The rapid increase of these figures has not gone unnoticed, being recognized as a clear indicator that the sector’s good fortune cannot last forever. 

 

The long-term viability of trucking fleets is also up for debate. With drivers able to make an extra $50,000 a year by operating on their own terms, it is of little surprise that many have left the relative safety of a broader fleet for the thrills of working independently. This sudden loss of personnel has meant that those who were previously employed within trucking fleets may now be back at square one when it comes to finding secure employment. 

 

In reality however, this does not paint a full picture of the situation. There are still many drivers who recognize that despite the decreased wages and reduced opportunities, a trucking fleet can still be an excellent place to make a living. This is mainly due to the fact that the differences in wages between fleet drivers and owner-operators is currently very small in comparison to years gone by, potentially boding well for those who have remained loyal to a single employer. 

 

The trucking industry of today has certainly evolved vastly compared to a few years ago. The transformation has been profound, creating a new era for this sector that is surely different from its past. While the advances in technology have enabled drivers to set off on their own journey, there are still many moving parts in play and no one as of yet can be certain what the exact outcome of all of this will be. What can be said however, is that those same fleets still offer hope to many who have opted to remain loyal and stand by them.



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Kinga Edwards
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