Central Oregon Truck Company has announced a new pay structure for drivers that guarantees a minimum number of miles per week with a minimum salary.
The weekly minimum gives drivers an effective salary base of $65,000 per year with experienced drivers potentially earning more than $90,000 per year, according to Rick Williams, CEO of COTC. The company is guaranteeing at least 2,430 miles per week, with a minimum weekly salary of $1,250.
“For drivers who want more home or rest time, this provides a stable living wage,” said Williams. “But, for other drivers who want to run more miles, this program is great too. If a driver runs 3,000 miles for the week, that salary would increase to $1,575 – escalating up to $2,000 a week for solo drivers.”
Team drivers have the opportunity to earn even more, between $2,350 and $3,345 gross per week.
COTC also offers medical/dental and vision insurance – paying 100% of employee premiums. It also pays 100% for short-term disability and passenger insurance, and offers flexible spending accounts and health reimbursement arrangements. COTC does not charge to enroll in per diem. Through Weekly Driver Salary Pay, per diem is paid at a flat $68 per day for five nights out each week.
“The goal was to simplify it so that a driver would know exactly what his or her check would be each week the minute the payroll cut-off hit,” said Williams. “Now, all our drivers have to do is track their miles. Overall, this means a $10,000 to $15,000 a-year jump for our drivers. We also offer ‘loyalty pay,’ which is an additional one to three cents per mile driven.”