If you are thinking about a career as a truck driver, you may have heard both true and false rumors about your potential pay. We are here to help you understand the real pay for truckers per mile and their expected annual wage.
Trucking rates per mile in 2020 might vary significantly and rely on various variables. Still, there are three crucial aspects to take into account: 1) The kind of your employment, 2) your residence and travel patterns, and 3) your level of expertise. What is the rate of pay for truck drivers per mile? Continue reading to learn more.
Owner-Operator vs. Company Driver
Your employment is one of the most crucial elements when figuring out truck driver compensation per mile. We will only examine the two basic categories of drivers—a business driver and an owner-operator—even though several more drivers may have various obligations and responsibilities.
An individual employed by a business to operate a truck that the business owns is known as a corporate driver. In other words, the driver is in charge of following the route and doing the necessary checks before and after the journey, but they are not covering the cost of repairs, oil changes, etc.
On the other side, an owner-operator is in charge of repairs and owns the vehicle. Additionally, they are given greater freedom to decide on their timetable and routes. As a result, they can earn more overall and per mile while taking on more responsibility.
Truck drivers typically earn roughly $58,000 per year, according to Glassdoor (obviously, other factors will play into your salary being higher or lower than the average). But if you own and operate your vehicle, you could make between $100k and $150k annually, or perhaps more. As an owner-operator, your earning potential is much larger, but remember that this comes with a lot of responsibility and a lengthy list of expenditures, so be sure you are ready for everything before leaping.
Location
Where you reside also affects how much money you will earn every mile as a truck driver. As with any occupation, earnings vary according to the cost of living in various locales. Therefore, even if you may earn less on average in certain places, your wage may still be excellent, given the local cost of living.
According to Zippia, North Dakota, Wyoming, and Indiana are the top places for truck drivers to work (based on average pay and cost of living). Contrarily, while the average pay in California is greater, the increased cost of living more than offsets the wage rise. It is crucial to remember that the figures taken into account are only averages and that incomes within a state may vary greatly.
Years of Experience
Your years of experience are the final factor when determining how much you should budget for as a truck driver. You may keep raising your salary as you get more experience, just like in other professions.
You should now have a fair sense of how much money you will earn each mile as a truck driver based on the work you want to pursue, where you reside, and how much experience you have. Visit our Baldwin Park truck driving school if you are prepared to advance in your trucking profession.