ATA Survey: Driver Pay Increased Due To Driver Shortageby Jake Tully - Published: 3/27/2018
Earlier this week the American Trucking Associations announced findings from its most recent Driver Compensation Study with data indicating that driver pay has increased across the country as demand for freight has simultaneously increased.
According to the ATA survey, driver pay has also seen a surge due to a relative lack of drivers in the industry, affording working drivers in the country the opportunity to see more money with more freight opportunities available overall.
Bob Costello, Chief Economist for the ATA reports that in the most recent survey, evidence points to companies providing better resources to drivers in order to retain and recruit them for their fleets.
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"This latest survey, which includes data from more than 100,000 drivers, shows that fleets are reacting to an increasingly tight market for drivers by boosting pay, improving benefit packages and offering other enticements to recruit and retain safe and experienced drivers," said Costello.
The survey from the ATA finds that the median salary for a company driver is currently over $53,000 annually, an increase of $7,000 from the last ATA survey.
Similarly, the ATA found that drivers for private fleets are seeing a gain of 18% in annual pay to over $86,000.
"Our survey told us that carriers are offering thousands of dollars in bonuses to attract new drivers," Costello said. "And once drivers are in the door, fleets are offering benefits like paid leave, health insurance and 401(k)s to keep them.
Costello also reports that data from the survey shows that fleets are more receptive to the current driver shortage and are working towards providing drivers with resources that may help combat the current driver shortage in the country.
Interested parties may purchase a copy of the report from the ATA at the association’s website.