Given the industry’s heavy demand for truck drivers, trucking companies are often unable to find enough drivers to fill their positions. As a result, they have increased wages and benefits to increase the appeal of these positions.
In recent years, there has been an increase in truck driver compensation and sign-on incentives for new drivers. As per FleetOwner, even truckload freight volumes and costs have increased recently.
Truck driving employment market on the rise
With freight demand on the rise, truck driving employment is expected to grow by 3.5 million in the next decade. Yet, the market is highly competitive with close to 100% turnover in some regions due to high demand for drivers and an industry-wide driver shortage.
Truck driver salaries
Truck drivers are the backbone of the commercial trucking industry. They drive trucks and other large vehicles, such as tractor-trailers, which require a Commercial Driver License to operate. There is a shortage of truck drivers in the United States.
According to current figures, truck driver pay has increased in recent years, at the very least, salaries have leveled down and appear to be increasing modestly.
This is fantastic news for truck drivers already in the profession. In other aspects, unfortunately, the reality for individuals trying to enter trucking is a little gloomy.
Entry-level jobs for truck drivers
Truck driving is one of the most popular jobs in the United States. It pays well and it is a job of choice for people who want to be their own boss. If you are interested, keep in mind that the truck driving industry is highly competitive. Entry-level jobs are hard to get because of the large number of applicants.
So, what is the truth about the truck driver shortage? The truth is that top professional drivers are in high demand, and there is only a handful available. Yes, most trucking businesses will give anyone off the street a chance to prove they can be a valued asset, but only a small percentage of those who apply really succeed.
Self-employed truck drivers
The truck driving employment market is highly competitive. Some people find it difficult to find jobs, so they start their own trucking business or become owner-operators. This can be done by leasing a truck and using online freight brokers such as UShip or Freightos to find cargo for freight haulers.
Approximately 350,000 owner-operators are currently driving in the U. S. carrying our freight throughout the country on a daily basis. Owner Operators account for 9% of all truck drivers on the road, with an average annual salary of $50,000.
Owner-operators are now earning higher compensation from carriers who are implementing programs to assist drivers in becoming owner-operators with their own vehicles, thanks to their growing demand.
Is there room for career progression?
In addition to providing a distinct lifestyle and work environment, the truck driving sector also provides the option to work in a field with a large number of employment openings.
There’s also room to advance once you have your CDL and start working in the business, as long as you show that you’re capable.
Going forward in the trucking sector is similar to stepping up in any other field: try your best and make it evident that you put the company’s best interests at heart.
From the moment you get your CDL until you retire, give your best and make sure your boss knows if you’re ready to develop your trucking career.