Driver pay increases have slowed considerably with higher costs and the soft economy.
According to The National Survey of Driver Wages, published by SignPost Inc., only 13.7% of truckload carriers increased driver wages between February and May. This is the third quarterly survey in a row that didn’t record significant changes in driver compensation.
The average increase was just under 1%. Only two major carriers raised starting base pay: Dick Simon Trucking upped its per-mile rate by 5 cents, Transport America raised it a penny.
In the flatbed segment, compensation actually decreased 1.1%. Researchers said that was because the only change recorded was an increase in the amount some solo drivers pay for health insurance. The average increase among reefer carriers that changed pay packages was 1.8%. The average among reefer carriers was 1.9%.
SignPost’s Major Carrier Wage Index, based on information from 61 of the country’s largest truckload carriers, puts the average starting pay for drivers with 3 years of experience at 31.2 cents a mile, up 0.3% from the previous quarter. The average one year ago was 30.8 cents. The average for major flatbed carriers is 31.5 cents, dry van carriers 31.7 cents, and refrigerated carriers 30.3 cents.
Survey results are based on 420 company driver and owner-operator pay packages. For more information on this and other available surveys, go to www.natlsrvy.com.