How Much Do Truck Drivers Make a Year?
When considering a career as a professional truck driver, the most commonly researched question is usually, “how much do truck drivers make a year?”. Although the average truck driver salary in the US is about $70,363 per year (base pay) according to Indeed.com, what a driver can actually make depends on several key factors. The main factors that help determine how much truck drivers make annually are the specific type of trucking job you have, how many years of experience you have, potential bonuses/incentives, what certifications/endorsements you have, and if you are in the specialty hauling category. Now let’s dive in and get a better understanding of the question, “how much do truck drivers make?”.
How Much Do Truck Drivers Make?
Unlike the payment structure of other careers, truck drivers are usually paid on a cents per mile basis, rather than hourly or salary. In California, the average truck driver is paid between $0.40 per mile on the low end and $1.79 per mile on the high end – depending on the type of driver you are, how much experience you have, and what company you work for. But to get a better idea of how base pay works for truck drivers, let’s look at an average-based example. Since most solo full-time drivers travel up to 3,000 miles per week, on average, solo drivers base pay is commonly around $1,200 per week and $62,400 per year. However, as seen below, team drivers and owner operator drivers make closer to $3,160 per week and $164,300 a year.
Endorsements and Certifications
Receiving endorsements and certifications representing additional levels of training can also increase the amount of money you can make and allow you to surpass the average truck driver salary. Some of the main endorsements truck drivers strive to achieve when looking to advance in their careers is a HAZMAT (transports hazardous material), Tanker (hauling liquid), and oversized hauler (load taller than 13′6″ or wider than 8’6) endorsement. Due to the level of danger that comes with these jobs and the training it takes to confidently transport the given materials, companies compensate drivers with these certifications more handsomely.
Incentives, Bonuses, Benefits
When determining just how much do CDL drivers make, it’s important to look at the whole picture. In addition to base pay, many companies also offer drivers various incentives, bonus opportunities, benefits, and guaranteed weekly minimum pay rates in hopes to recruit the best talent. These incentives are also getting better and better as the driver market continues to become more competitive. Some of the main incentives and bonuses drivers are being offered are the following:
- Signing Bonuses (often between $2,500 – $7,000)
- Relocation Bonuses (when applicable)
- Guaranteed Weekly Minimum Pay (often between $1,000-$1,350 per week)
- Full Compensation Packages (varies from company to company)
Furthermore, in order for trucking companies to effectively recruit and keep good drivers, having a strong benefits package is a must. Although the benefits a given company offers varies, some of the most common benefits companies offer and drivers look for are the following:
- Tuition Reimbursement
- Pet-friendly
- Health, Dental and Vision insurance
- Life and Disability Insurance
- 401(k) Retirement Plan
- HSA and Health Programs
- Paid Toll Fees
- Prepaid Fuel Cards
- Stock Opportunities
The above are just a few of the benefits you might see when researching what company to work for. For a more concrete list of benefits, be sure to look at the given companies official website.
As discussed above, to truly understand what your CDL driver salary could be, you have to look at the entire picture and consider the potential base pay and incentives, bonuses, and benefits. Only then, will you know how much truck drivers make and how much you could make. Regardless, as long as you are a reliable and hardworking individual, there are plenty of opportunities to make good money in this industry. And you will only make more if you gain experience and endorsements. Ready to become a truck driver? Contact the Truck Driver Academy to find out how to get started today!