Growing demand an aging labor force competition for workers from other industries and lost productivity due to government regulation will likely result in increased driver wage and benefit costs as fleets strive to keep their experienced workforce and recruit additional drivers the report saidSurvey respondents indicated that average truck driver pay per mile was 462 cents in 2014 which is a 5 increase over the 440 cents reported in 2013 In terms of hourly wages the 2014 CPM figure translated Thinkstock

NTI: Driver pay changing faster than it has in years

Institute calls trucking industry is experiencing unusually aggressive and volatile movement in driver pay, which is evidence that the market may be headed into a significant driver shortage that will have all trailer types struggling to find drivers

Truck driver pay is changing faster than it has in three years, according to the National Transportation Institute (NTI), which recently released a supplement to its Quarterly National Survey of Driver Wages report. According to the 4Q 2017 supplement, the average per-mile pay increase is currently at $0.029.

Due to the extreme volatility in driver pay at the end of the last quarter of 2017, NTI issued a supplement with updated data to provide subscribers with clear, actionable and current data on industry trends. NTI’s quarterly survey reports findings for the prior quarter and contains vital market insights for fleet executives, insurers, consultants, carriers, shippers and transportation equity analysts alike.

“Driver compensation is changing faster than it has since 2015,” said Leah Shaver, NTI’s CEO. “We’re seeing unprecedented movement in drive pay and we wanted to provide our subscribers with the most current and relevant information.” 

According to the 4Q 2017 supplement, the trucking industry is experiencing unusually aggressive and volatile movement in driver pay, which is evidence that the market may be headed into a significant driver shortage that will have all trailer types struggling to find drivers. 

Each quarter, the National Survey of Driver Wages provides its subscribers with comparisons of over 500 national and regional pay packages across 75 specific categories. This gives fleet executives the added ability to drill down on trends in per-mile, hourly and accessorial pay, bonuses, 401(k) plans and other benefits, rider policies, driver down time, and much more.

For more information, to purchase the latest edition and supplement or to subscribe to the National Survey of Driver Wage, click here.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish