Despite the challenging freight market for motor carriers, driver wages across the industry continue to increase post-pandemic, according to American Trucking Associations’ latest Driver Compensation Study.
The study provides detailed wage and benefit information for drivers based on a wide-ranging survey that collected data from 120 fleets, more than 150,000 employee drivers, and 14,000 independent contractors, ATA reported.
“While our last study, conducted in 2021, illustrated how drivers benefitted from the strongest freight environment in a generation, this latest report shows professional drivers’ earnings are still rising—even in a weaker freight economy,” Bob Costello, ATA chief economist, said in a news release.
“By offering greater tenure bonuses to their current driver force, many fleets appear to be shifting their workforce priorities from recruitment to retention.”
Among the key findings in this year’s survey:
- Truckload drivers earned a median annual amount of $76,420 in 2023—a 10% increase over the previous two years.
- Linehaul less-than-truckload drivers earned a median annual amount of $94,525 in 2023, while local LTL drivers earned a median of $80,680.
- Median annual compensation for drivers at private carriers has risen 12% since 2021, reaching $95,114 in 2023.
- Leased-on independent contractors for truckload carriers were paid an annual median amount of $186,016 in 2023.
- Carriers offered smaller referral and fewer sign-on bonuses for new drivers in 2023 compared to 2021 but more frequently offered tenure bonuses to their current drivers and with a greater median value.
“Trucking is one of the few roads in today’s economy that lead to the middle class without requiring a college degree and the debt that comes with one,” said Chris Spear, ATA president and CEO. “As this study shows, those pursuing a career as a professional truck driver will find strong earning potential in this field, which remains in high demand and will only continue to grow higher in the years to come.”