Since the COVID-19 pandemic began, the demand for truck drivers has skyrocketed, exacerbating the ongoing driver shortage with no solution in sight. Shelves are bare, drivers are scarce, and the economy is uncertain. Even as trucking salaries have risen, the talent deficit remains. It’s common for drivers to feel overworked and underpaid. They’re becoming stressed and homesick. If expanding the pay (sometimes even double) cannot solve the shortage, then what can? How can you attract more drivers as well as keep current drivers?
It seems that the answer could be in the restructuring of trucking salaries. Pay per mile trucking salaries are no longer as desirable as they once were. Signs point to hourly driver pay as the way out of the talent shortage. Let’s look at what this means and how the change could impact drivers.
What Is the Salary of a Truck Driver?
What is the salary of a truck driver? According to the U.S. Bureau of Labor Statistics, the average pay for truck drivers is $47,130 a year. Trucking salaries can vary depending on location, the freight hauled, and logistics. Typically, CDL drivers are paid by their miles and not their actual working hours. Also, truck drivers are exempt from overtime pay requirements. Meaning they do not get paid if they work overtime.
How Much Truck Driver Salary Has Changed in Response to Market Disruption?
Once COVID-19 reached a pandemic status, people spent more time indoors and more time shopping online. As a result, trucking companies needed additional drivers to keep pace with demand, so they increased compensation to entice them.
A simple Google search will show how much truck driver salary has changed over the past two years, some even doubling the trucking salaries. While the 2020-2022 market growth has created an exponentially high demand for truck drivers, supply chain trucking companies are still struggling with a talent shortage even with the salary increases.
How Hourly Pay Could Alleviate Uncertainty Over Driver Salary
Higher trucking salaries don’t necessarily equal long-term employees. Drivers are looking for compensation for their time, not just their miles. What is the salary of a truck driver? Typically the salary is a set rate per mile. The rate per mile excludes expenses, including fuel. This means that truckers are paid for miles driven, not hours worked. When they find and secure dedicated loads, drivers should be compensated for inspecting, wait times, loading/unloading, and all other tasks not included in their per mile pay.
Hourly pay would alleviate many of these issues in trucking salaries. It would compensate drivers for all of their time and work, not just the miles they drive. Drivers frequently work long shifts and should be paid accordingly.
Know the Facts of Trucker Pay and Choose AMX Logistics to Create a Fair and Concise Payment Process for Your Drivers
When researching which partner to choose, remember how and what truckers get paid. Choose a partner who will compensate your drivers fairly. What’s the salary of a truck driver? A truck driver’s salary is compensation for all their work, not just part of it. Payment for their time away from their families, time waiting in lines, hotels, labor, and hard work – not just their miles driven. Keeping drivers happy equals keeping them on the road driving. Request a quote with AMX Logistics today!